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Teckwah
granted International Procurement
Centre and Bonded Warehouse Status
for its operations in Malaysia
These two approvals will enable
the company to expand its current
value chain management services to
multinational companies in Malaysia
SINGAPORE,
3 July 2003 - Mainboard listed
value chain management services provider,
Teckwah Industrial Corporation Ltd
("Teckwah" or "the
Group"), today announced that
its associate company, Teckwah Value
Chain Sdn Bhd ("TVCSB" or
"the Company"), the company
jointly owned by KLSE listed Public
Packages Holdings Bhd ("PPH")
and Teckwah Industrial Corporation
Limited, has been granted the International
Procurement Centre and Bonded Warehouse
status in Malaysia from Malaysian
Industrial Development Authority (MIDA).
The International Procurement Centre
and Bonded Warehouse status will enable
the Company to expand its value chain
business across Malaysia to serve
the needs of multinational corporations
in the country. With the approval
to assume the role as an International
Procurement Centre, the Company can
now procure and kit the components
or parts into the main products for
its customers. These products can
then be stored in the bonded warehouses
pending export to its customers globally.
Commenting on the developments today,
Mr Thomas Chua, Chairman of Teckwah
Industrial Corporation Ltd says: "we
are very honoured that these two prestigious
status have been given to the Company,
especially in view of the stringent
regulations relating to the award
of these status. Supported by both
the international procurement centre
and bonded warehouse, the Company
is poised to expand its value chain
services to customers across Malaysia."
Corresponding to its move into focusing
on providing value chain management
services in Malaysia, Teckwah will
be consolidating its traditional printing
and packaging operations to its plant
in Malacca. The factory in Johor will
be used to serve the procurement,
kitting and assembling activities
of the Group.
Teckwah Value Chain Sdn Bhd was established
in 2000 as a joint venture between
PPH and Teckwah whereby each party
owns 50% of the shares of the Company.
The objective underlying the establishment
of this joint venture is to expand
Teckwah's supply chain capabilities
into Malaysia and make further in
roads into the market by tapping into
PPH's resources and network in the
country.
Presently Teckwah serves the value
chain needs of major MNCs in Singapore
and the Asia Pacific Region. In 2002,
its value chain services business
contributes about 55% of the Group's
total revenues. The Group's value
chain services operate under a Technology
Licensing Programme from its subsidiary,
Teckwave Media Services Pte Ltd (Techwave).
"Having spent the last twelve
years in Malaysia, we are repositioning
our printing and packaging business
in the country. Going forward, we
expect that our value chain services
business in Malaysia will continue
to increase, especially in light of
the latest developments." Said
Mr Thomas Chua.
On 1 July 2003, Teckwah also announced
the establishment of its joint venture
company in Thailand, Teckwah Value
Chain (Thailand) Co. Ltd. Teckwah
owns 49% of the equity and the balance
51 % is held by some Thai nationals.
Techwave has granted the technology
license to Teckwah Value Chain (Thailand)
to enable it to serve the needs of
MNC in Thailand.
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About Teckwah Industrial Corporation
Limited
Teckwah was established in 1968 as
a producer of packaging boxes. Over
the years, the Group's businesses
have evolved into an integrated value
chain provider. The Group currently
employs more than 900 employees. Singapore
serves as the business and operational
headquarters for the Group. Outside
of Singapore, the Group's network
spans 6 Asian countries including
Malaysia, China, Indonesia, Korea,
Taiwan and Thailand. The shares of
Teckwah are traded on the SGX-Mainboard
of the Singapore Exchange Securities
Trading Ltd ("SGX-ST").
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