Kaneka plans to ‘top up’ RM1b in Pahang

11/22/2013 — http://www.btimes.com.my/Current_News/BTIMES/articles/21KANEKA/Article/

KUANTAN: Kaneka Corp plans to invest another RM1 billion to strengthen its position as a key manufacturer of high technology products used in modern gadgets and facilities.

Kaneka has already invested the same amount to build five plants in Gebeng with the latest addition, Kaneka Apical Malaysia Sdn Bhd’s (KAM) factory, scheduled to begin operation in January.
Kaneka president and executive director Kimikazu Sugawara said several areas the Osaka-based company will focus on are electronics, plastics, synthetic fibre and bio-technology.
“We are studying several projects. Most likely, the projects will be implemented in Kuantan, which is strategically located and has a pool of skilled workers and excellent facilities,” he said after the KAM launch at the Gebeng Industrial Area, here, yesterday.
Present were East Coast Economic Region Development Council (ECERDC) chief executive officer Datuk Jebasingam Issace, Kaneka managing executive officers Toshio Nakamura and Minoru Tanaka, and Kaneka group of companies in Malaysia managing director Masahiro Kozai.
Sugawara said the Kaneka group is expected to see a rise in its sales revenue to RM1 billion annually in the next three years.
The group’s sales revenue for this year is expected to exceed RM500 million.
KAM’s plant, which costs RM200 million, should contribute RM140 million next year.
Meanwhile, Jebasingam said Kaneka’s new subsidiaries in Gebeng will help boost the downstream industries.
He said several companies from the United States, United Kingdom and Japan have expressed their interest to invest in Gebeng due to the presence of Kaneka and other high technology companies.
ECERDC has so far attracted RM53.8 billion in investments and created 40,000 jobs for the locals since its inception five years ago, Jebasingam said.