CHINA’S JADI TONER PLANT STARTS OPS

[Anonymous]

Jadi’s China toner plant to start ops next month
KUALA
LUMPUR: Jadi Imaging Holdings Bhd will launch its wholly-owned unit in
China, Jadi Imaging Technologies (Suzhuo) Co Ltd (Jadi Suzhou), next
Monday, said executive chairman and group chief executive officer Liew
Kim Siong.He said Jadi Suzhou, which is operating the group’s first
overseas plant in the Suzhou Industrial Park, would start production of
toners next month. “Jadi Suzhou will allow us to penetrate deeper into
the rapidly expanding Chinese toner market by providing better services
to widen the local customer base,” he said after Jadi’s debut listing
on Bursa Malaysia second board yesterday. To boost revenue and net
profit, the company also plans to add a fourth production line in
Malaysia. “We are confident of hitting net profit and revenue of
RM10.9mil and RM63.5mil respectively this year, leveraging on our two
new production lines,” Liew said, adding that the company expected to
record RM79mil in revenue next year. The additional production lines
would almost double Jadi’s annual capacity to 4,400 tonnes from the
current 2,300 tonnes. For the year ended Dec 31, the company posted a
net profit of RM8.54mil from a revenue of RM44.8mil. Jadi’s plant in
Shah Alam has three production lines that manufacture only black
toners. “Next year, we plan to make colour toners to meet the projected
growth in demand for colour printers globally,” Liew said. Jadi shares
opened yesterday at 20.5 sen, 0.9 sen higher than their issue price of
19.6 sen. The counter touched a high of 22.5 sen and a low of 20 sen
before closing at 21 sen, with 35.4 million shares traded. It was the
second most active counter. 

[Author]

May 12, 2006 at 11:18 AM