Scientex Berhad is a flexible plastic packaging (FPP) manufacturer and an affordable home developer. It was incorporated in 1968 and listed on Bursa Malaysia in 1990. Its manufacturing facilities span across Malaysia, Vietnam, and the United States. In 2018, it celebrated its 50th anniversary and launched a new Vision 2028 which aims to increase its FPP production output to 1,000,00 metric tonnes as well as build 50,000 affordable homes by 2028.
In November 2018, Scientex announced a proposed acquisition to purchase a stake in Daibochi – a player in the FPP industry. Scientex is no stranger to acquisitions and fully acquired Klang Hock Plastic Industries in May 2018. The proposed acquisition sparked my interest in Scientex. I decided to attend its extraordinary general meeting to know more about the company.
Here are seven things I learned from the 2019 Scientex EGM:
1. Scientex intends to buy a 42.4% stake