KUALA LUMPUR: South Korea-listed Coway Co Ltd, whose net profit and revenue are set to hit fresh record highs for the financial year ending Dec 31, 2018 (FY18), will ramp up investments for its Malaysian operations, which may include establishing a manufacturing facility and an initial public offering (IPO).
“Setting up a manufacturing plant in Malaysia is a logical move in the long term and we are still considering it. Maybe we’re able to announce our decision in one or two years,” he told Malaysian journalists in Seoul last week. Currently, the group operates three manufacturing plants in South Korea and one in China.
“Setting up a manufacturing plant in Malaysia is a logical move in the long term and we are still considering it. Maybe we’re able to announce our decision in one or two years,” he told Malaysian journalists in Seoul last week. Currently, the group operates three manufacturing plants in South Korea and one in China.
Last year, Coway (M) Sdn Bhd’s (Coway Malaysia) revenue rose 54.9% to RM790 million from RM510 million in 2016. It sold 295,000 units last year, up 39.8% from 211,000 units in 2016.
“We will run a massive marketing campaign [for ‘Ombak’] starting this month,” Jung said, adding that Coway is expecting RM15 million in media value via its promotional efforts on television, radio and digital. The leading water and air purifier maker in South Korea invested RM360 million into its Malaysian operations last year.
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