LTKM ... Sept09

An egg producer, said processed glass production could become its number one business in the future following its move to diversify.

The company may slot in as the "second or third" largest processed glass producer once its factory in Klang is ready in seven to eight months.

LTKM has set up Lumiglass Sdn Bhd headed by Alexander Akguel for the operation that involves an investment of RM15 million on equipment and machinery. About RM12 million is to come from borrowings.

As with any new business, there will be gestation period before it can become significantly profitable.

LKTM's egg business, he said, had become saturated as more players have entered the market. This was compounded with the flat growth of the local egg consumption in the past five to 10 years, despite the growing population. Nevertheless, at an average of 278 eggs one consumes every year, Malaysia is one of the top egg-eating nations in Asia, he added. Japan, France and China are among the world's top egg-consuming nations..

LTKM produces 1.3 million to 1.4 million eggs a day from its farm in Air Keroh, Malacca.