The edgetv – sizing up future partners scientex and daibochi scientex electricity in costa rica current


By any yardstick, a half century is a long time. To give this some perspective, it took 50 years for man to reach the summit from the time the first photographs set Mount Everest apart as the ultimate challenge. Likewise, it took almost 50 years for cancer research to yield such progress in prevention and treatment from the time US President Richard Nixon signed the National Cancer Act as a challenge to find a cure.

Our story may have begun 50 years ago, but it is only just taking off. After our incorporation in 1968, we made steady progress during the first 40 years. However, our efforts then were fragmented and disconnected. gas explosion in texas We lacked structure and our operations were not consolidated or streamlined. In the immediate years before 2008, Scientex operated 10 business units with 10 different sets of people, all working in silos independent of each other. To use a tug-of-war analogy, we were pulling on our own, but not pulling together.

The last 10 years were a different story. In 2008, we merged our listed entities, bringing two companies together as one. The same year, Scientex celebrated its 40th Anniversary, giving the Board, management and staff a common goal for all to cooperate and collaborate. Looking back, this was a seminal moment. We discovered we could achieve much more in lesser time by working single-mindedly to navigate in one direction. As a result, we formed an executive committee or Exco in 2009 to coalesce our focus and drive the company towards a collective vision and aspiration.

It was during these last 10 years that Scientex came into its own. In that period, we leveraged on our strengths to build capacity. At the same time, we developed our resources in capital, talent and technology that enabled us to undertake more ambitious projects to grow faster and go further. Following this exceptional decade of exponential growth and extraordinary achievements, Scientex is today a RM2.6 billion company with thousands of employees and operations spread throughout Malaysia and beyond.

Based on how far we have come, the tendency is to sit back and enjoy the fruits of our labour. Yet, it is not in our nature to rest on our laurels and let complacency creep in. Instead, we are ready to take on the next challenge, just as mountain climbers continue to attempt summiting Mount Everest and cancer researchers remain resolved in finding new pathways towards cures for different cancers.

This is an ambitious goal, one which is fraught with challenges, internal as well as external. a level physics electricity equations In response, Scientex will remain nimble and responsive to the ever-changing market forces, avoiding the common trap of excessive bureaucracy which commonly afflicts companies as they grow in size. Our corporate philosophy of ‘management like water’ will continue to set us apart through lean management and our agility to navigate the volatile, uncertain, complex and ambiguous world ahead to seize opportunities wherever and whenever they appear.

Given this agility, we will intensify our investment to build capability and capacity. While we had RM620 million in assets and RM350 million in equity 10 years ago, we now have more than 5 times that amount with RM3.4 billion in assets and RM1.8 billion in equity, giving us the financial muscle for investment in new plants for manufacturing and acquisition of new land banks for property development whenever the need arises.

For our manufacturing division, we intend to drive annual capacity up from 450,000 metric tonnes to 1 million metric tonnes over the next 10 years. To reach this goal, we need to grow our market share by: capturing a slice of the rapid growth in demand for our existing products; securing new regional markets for our present offerings; and creating new solutions to penetrate different market segments. As we explore new frontiers to become a truly global player, our challenge is to learn and adapt to different market demands and conditions.

In the case of our custom film segment, we first ventured into flexible plastic packaging for consumer-based products in 2013 following our acquisition of Great Wall companies. This opened the door to new opportunities for Scientex as our quality packaging products play an important role in enhancing packaging integrity to reduce food wastage and spoilage through better quality packaged products. We are now poised to tap into the fast-growing FPP market, which is expected to grow in excess of USD200 billion by 2020. The food and beverage (F&B) segment, which constitutes 70% of this market, will be a key focus for Scientex. By capitalising on our competencies, we will develop customised solutions for these specialised market needs in collaboration with our customers while also keeping pace with emerging trends such as e-commerce, convenience and sustainability. Our latest improvements through the adoption of digital printing technology in our production process are part of the continuous efforts to complement and supplement Scientex’s capabilities to meet changing customer requirements. electricity calculator Our specialty segment leverages on our joint ventures with international partners to produce specialty products such as adhesives and solar films. Through the transfer of skills and technology, we now have the competencies to move into high technology products that can respond to global market trends.

On the property front, Scientex has long been entrenched in the southern part of Peninsular Malaysia, providing affordable housing to the masses for the past 20 years. In line with our corporate philosophy, we continue to search for new ways to deliver affordable housing by tapping into our expertise and efficiencies in order to derive greater cost savings which are then passed on to our buyers. A decade ago, we were building at a rate of 500 units per annum. Today, Scientex is building 5 times the number of units at 2,500 per year. All in, we have delivered nearly 17,300 units of quality affordable homes, with high occupancy rates recorded for all our Johor and Melaka projects. To achieve our next 10-year aspiration, we need to look beyond our existing markets by crossing boundaries and extending our trademark of developing affordable housing in previously uncharted territories. Since last year, we have expanded from our traditional bases in Johor and Melaka northwards to Selangor and Perak as we strive to deliver 50,000 affordable homes by 2028.

As with both the manufacturing and property development divisions, going where we have never been before comes with a host of challenges. Here again, our people would need to push the envelope as they contend with new rules and regulations, different market sentiments as well as intense competition from established players with home ground advantage.

Economically, Scientex’s robust business performance in recent years has significantly contributed to the financial growth and greatly improved the livelihoods of our stakeholders, from our shareholders, partners and associates to our employees and vendors. gas x directions To reduce the impact of our operations on the environment, we have diligently adhered to the 3Rs programme of Reduce, Reuse, Recycle in every aspect of our manufacturing and property development activities. In addition, our quality packaging solutions have gone a long way to reduce food wastage for our customers by extending the shelf life of packaged food products. In property development, Scientex’s commitment to providing affordable housing has helped to put a roof over the heads of tens of thousands of Malaysians.

At Scientex, we are firm in our belief that sustainability drives growth, by generating opportunities and optimising resources in capital, assets and people while also harmonising our activities with the communities and environment within our considerable sphere of influence. To us, sustainability is a business imperative with the potential to ensure we can meet all our aspirations and achieve all our goals on a continuous and consistent basis.

Wong Chin Mun received the Teacher’s Certificate from the Ministry of Education of Malaysia in 1966 and graduated with Bachelor of Business (Accounting) Degree and Bachelor of Business (Secretarial Administration) Degree from Curtin University, Western Australia in 1972 and 1974 respectively. He is a Fellow of Australian Society of Certified Practising Accountants as well as associate members of Institute of Chartered Secretaries and Administrators, UK and Malaysian Institute of Accountants.

Wong Chin Mun worked as the Financial Controller/Company Secretary in Yeo Hiap Seng Bhd from 1974 to 1975. He then joined Nylex (Malaysia) Berhad (“Nylex”) as the Financial Controller/Company Secretary in 1976 and became the first local General Manager/Director of Nylex in 1980. gas house He was promoted to the position of Managing Director in 1985 and left Nylex at the end of June 1994 to found TEC Asia Centre (now known as Vistage Malaysia Sdn Bhd), an international organisation which aims to help chief executive officers and entrepreneurs to manage change and grow their businesses. He had served on the National Export Council under the Ministry of International Trade & Industry (“MITI”) from 1989 to 1992 and was appointed to the National Branding Taskforce of MITI 2006 to 2009. He also served on the Board of Trustees of Malaysian Rubber Export Promotion Council from 2000 to 2002. Currently, Mr Wong is the Senior Independent Non-Executive Director of Sunway Berhad as well as the Independent Non-Executive Director of Khind Holdings Berhad. He serves on the Board of Trustees of Scientex Foundation since 2008. He is also the Chairman of the FMM-MIER Business Conditions Survey Committee and a Member of the FMM Strategic Policies Committee.