Sunzen Biotech Bhd, slated for a listing on the Mesdaq market on Oct 8, expects overseas sales to contribute 17% to group revenue this year (2008). his is up from 13.6%, or RM3.15mil, achieved in the financial year ended Dec 31, 2007.
It manufactures animal health products, made considerable headway in the overseas market last year (2007). They are currently exporting its products to Taiwan, Singapore, the Philippines, Thailand, Vietnam, Brunei, India and Pakistan. They also penetrated the Hong Kong market in the first quarter of the year (2009).
Sunzen aimed to venture into other markets in the region such as Indonesia and China as well as expand in India. They expect overseas sales to make up 30% to 35% of its revenue in the next three years.
While Sunzen already had a presence in India, it was experiencing some difficulties in marketing its products there due to the size of that country and the high import tariff.
Sunzen manufactures and markets feed additives, nutritional feed supplements, veterinary pharmaceuticals, animal vaccine and other animal health products.
It has also started exporting to South Korea and Iran in the second half of this year (2008).
Sunzen expects to raise RM8mil from its initial public offering exercise. It plans to use RM4.77mil for research and development, RM1mil for overseas expansion, RM43,000 for working capital and RM1.8mil for listing expenses.
27 minutes ago
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