FCW aims to improve export earnings from contract manufacturing.

KUALA LUMPUR (Dec 20, 2012): FCW Holdings Bhd aims to increase its export earnings from the contract manufacturing segment to 10% in the next financial year from the current 3%.

Its director Anderson Thor Poh Seng said the increase will be contributed by its new export countries, namely Indonesia and India.

He told a media conference after the company's annual general meeting here today that revenue from the export market was currently less than RM1 million, as it only entered the Indonesian and Indian markets this year.

He said in the financial year ended June 30, 2012, property rental and contract manufacturing for cosmetics and toiletry products, continued to be main contributors to the group's turnover.

"Revenue registered in the financial year by the contract manufacturing segment was RM30.2 million, an increase of 3% from a year ago," he added.

The increase in revenue was mainly due to an improvement in sales order, he said, adding that FCW is eyeing to expand exports by penetrating other Southeast Asian countries next year.

On its property rental business, Thor said the segment is expected to be weaker in the next financial year, due to the expiry of certain lease agreements with tenants.

He added the company also expects to start a re-development project in the Segambut area by next year, but it was still in the planning process.

Source : thesundaily.my