Tien Wah ... Jun 09

Printing and consumer goods packaging company Tien Wah Press Holdings Bhd (TWPH) expects its overseas operations to contribute more than 60% to its total revenue this year.

Revenue from overseas markets increased to RM107mil last year from RM47.6mil in 2007 while those from the local operations declined to RM79mil from RM82mil.

It hoped the new exclusive supply contract with British American Tobacco (BAT) will further boost its export revenue. It secured a seven-plus three-year contract with BAT (last year) to supply all its cigarette carton needs in several countries in the Asia-Pacific region, which believe can further enhance its export revenue.

TWPH via its 100% subsidiary, Tien Wah Press (M) Sdn Bhd, also planned to make some capital expenditure in 2009 to increase the production capacity and improve efficiency.

TWPH wanted to fully use its regional manufacturing facilities in Ho Chi Minh City, Vietnam and Sydney, Australia to spearhead its business abroad.

TWPH currently exports to about 15 countries, including Myanmar, Thailand, Vietnam, New Zealand, South Korea, Taiwan as well as the Middle East.

For the financial year ended Dec 31, 2008, TWPH posted a higher pre-tax profit of RM25.1mil compared with RM16.7mil in 2007 while revenue rose to RM186mil from RM129.7mil.