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14
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FY
20
13
Op
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ear…
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Y13 b
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ste
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an
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Reco
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… c
om
men
dab
le m
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ptre
nd
sale
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m e
xis
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clie
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men
dab
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lpe
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po
rts
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12
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), attrib
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ne
w M
NC
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Au
stra
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ew
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ka
gin
g s
eg
me
nt a
ch
ieve
d n
ew
hig
hOpera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
3O
PE
RA
TIO
NS
RE
VIE
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•F
Y2
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co
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4
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FY
20
14 C
AP
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of R
M1
5-R
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for
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nd
ne
w p
lan
t
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be
utiliz
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for p
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t for n
ew
ma
ch
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prin
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nt to
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Q4
20
14
Daib
och
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ilms C
om
ple
x
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
4M
AN
UFA
CT
UR
ING
FA
CIL
ITY
UP
DA
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S
New
ly-in
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lled
CP
P F
ilm M
ach
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20
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vie
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Settin
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new
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ma
rk…
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et p
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esp
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esp
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in c
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pre
ssio
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pro
ved
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pre
ssio
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be m
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itore
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pro
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13 to
31.1
2.1
3
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3
Ch
an
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vs
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din
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trR
M'm
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13 to
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3
FY
12 to
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2
Ch
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vs
pre
v p
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80.6
487.2
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eve
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8278.7
511.5
%
11.6
812.7
8(8
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BIT
DA
47.0
143.3
68.4
%
9.3
110.3
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Op
era
ting
Pro
fit37.5
234.4
68.9
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tron
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loca
la
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13
gro
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7-0
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Sh
are
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ssocia
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30.3
328.4
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9.2
010.0
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re-ta
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36.8
633.9
28.7
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412.9
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%15.6
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light
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igh
er
raw
mate
rial
costs
with
time-la
gin
costpass
thro
ugh
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
6IN
CO
ME
STA
TE
ME
NT
67.767.7
73.273.2
67.767.7
75.775.7
68.868.8
70.670.6
65.765.7
73.873.8
73.473.4
69.569.5
87.387.3
80.680.6
4.64.6
5.05.0
4.54.5
5.95.9
5.15.1
6.46.4
6.96.9
6.26.2
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16.8
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New
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ew
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ce 3
Q to
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secu
red
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ce 3
Q to
incre
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co
ntrib
utio
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su
bseq
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arte
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utio
n in
su
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rs…
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2.1
3
3Q
13 to
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3
Ch
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vs
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din
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CK
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2
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Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
7P
AC
KA
GIN
G S
EG
ME
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ap
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au
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As a
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dite
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Rem
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s
Fix
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ssets
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vestm
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& d
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x)
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com
pris
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Associa
te In
vestm
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23.7
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ssets
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capex,
and
new
machin
ery
for
exis
ting
pla
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Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
8B
AL
AN
CE
SH
EE
T H
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LIG
HT
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4.6
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0.0
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6.0
0
12
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2008
2009
2010
2011
2012
2013
Net D
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en
d P
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hare
(sen
)*
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p fro
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pre
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usly
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Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
9D
IVID
EN
D H
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OR
Y
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10.4
8.4
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13.3
15.0
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2009
2010
2011
2012
2013
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pre
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le p
rod
uct m
ix g
oin
g fo
rwa
rd
New
ly e
xp
an
de
d m
an
ufa
ctu
ring
ca
pa
city
to o
ptim
ize
utiliz
atio
n ra
te
Opera
tions
Hig
hlig
hts
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ancia
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vestm
ent M
erits
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11
PR
OS
PE
CT
S A
ND
PL
AN
S
New
ly e
xp
an
de
d m
an
ufa
ctu
ring
ca
pa
city
to o
ptim
ize
utiliz
atio
n ra
teC
PP
film a
nd
me
talliz
ing
utiliz
atio
n ra
te to
red
uce
to 6
0%
from
70
%;
La
rge
r ca
pa
city
to m
ee
t risin
g o
rde
rs
Sh
are
Pric
e @
17
-Fe
b-2
014
RM
4.0
7*
Sh
are
Pric
e @
17
-Fe
b-2
014
RM
4.0
7*
Ma
rke
t Ca
p@
17
-Fe
b-2
014
RM
46
3.4
mil
Tra
iling P
E1
6.7
x
Tra
iling E
V/E
BIT
DA
10
.8 x
FY
13
Div
ide
nd Y
ield
3.7
%
* cum
4th
inte
rim d
ivid
end o
f 4 s
en
to b
e p
aid
on 2
8 M
arc
h 2
014
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
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ora
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rofile
12
VA
LU
AT
ION
S
TH
AN
K Y
OU
Bu
rsa
: DA
IBO
CI/8
21
5B
loo
mb
erg
: DP
P:M
KR
eu
ters
: DP
PM
.KL
IR C
on
tacts
Mr. L
ow
Jin
Wei
E: jin
wei@
daib
ochip
lastic
.com
T: 0
6-2
31 9
779
Ms. J
ulia
Pong
E: ju
lia@
aquila
s.c
om
.my
T: 0
12-3
9092587
Co
rpo
rate
Pro
file
DA
IBO
CH
I PL
AS
TIC
& P
AC
KA
GIN
G IN
DU
ST
RY
BE
RH
AD
DA
IBO
CH
I PL
AS
TIC
& P
AC
KA
GIN
G IN
DU
ST
RY
BE
RH
AD
Exch
an
ge
Ma
in M
ark
et, B
urs
a M
ala
ysia
sin
ce
19
90
(tran
sfe
rred
from
Se
co
nd
Bo
ard
in 2
00
3)
Se
cto
rIn
du
stria
l Pro
du
cts
Co
de
sB
urs
a: 8
12
5 / D
AIB
OC
IB
loo
mb
erg
:D
PP
:MK
Re
ute
rs: D
PP
M.K
L
Sh
are
Ca
pita
lR
M11
3.9
mil (1
13
.85
mil s
ha
res o
f RM
1 e
ach
)
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
15
CO
RP
OR
AT
E IN
FO
RM
AT
ION
Ma
rke
t Ca
pita
liza
tion
RM
46
3.4
mil (R
M4
.07
as
at 1
7 F
eb
rua
ry 2
01
4)
Co
mm
en
dab
le tra
ck re
co
rd in
serv
ing
a w
ide n
um
ber o
f MN
C
Co
mm
en
dab
le tra
ck re
co
rd in
serv
ing
a w
ide n
um
ber o
f MN
C
clie
nte
le in
the F
&B
ind
ustry
with
strin
gen
t qu
ality
co
ntro
l…clie
nte
le in
the F
&B
ind
ustry
with
strin
gen
t qu
ality
co
ntro
l…
•T
he
LA
RG
ES
TL
AR
GE
ST
SU
PP
LIE
RS
UP
PL
IER
of
Milo
packag
ing
inS
.E.A
•T
he
SO
LE
SO
LE
SU
PP
LIE
RS
UP
PL
IER
toN
estle
’sC
hem
bo
ng
co
nfe
ctio
nary
facto
ryin
Mala
ysia
»D
aib
ochi
isals
oth
eO
NLY
S.E
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pan
yon
»D
aib
ochi
isals
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eO
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pan
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egio
nalF
ood
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tyC
om
mitte
e
•S
up
plie
ro
f>>
90
90%%
of
Cad
bu
ry’s
flexib
lep
ackag
ing
inM
ala
ysia
•T
he
SO
LE
SO
LE
SU
PP
LIE
RS
UP
PL
IER
of
Mo
nd
ele
zIn
tern
atio
nal’s
(form
erly
kn
ow
nas
Kra
ft)b
iscu
itsp
ackag
ing
inM
ala
ysia
•M
AJO
RS
UP
PL
IER
of
flexib
lep
ackag
ing
toP
ep
siC
o’s
Ch
ian
gM
ai
pla
nt
for
po
tato
ch
ips
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
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vestm
ent M
erits
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ora
teP
rofile
16
RE
GIO
NA
L P
RE
SE
NC
E
Pep
siC
o’s
Ch
ian
gM
ai
pla
nt
for
po
tato
ch
ips
man
ufa
ctu
ring
•O
ther
majo
rb
ran
ds
su
pp
lied
Inte
rnatio
nally
Inte
rnatio
nally
--certifie
d p
rod
uctio
n fa
cilitie
s th
at c
om
ply
with
certifie
d p
rod
uctio
n fa
cilitie
s th
at c
om
ply
with
all fa
cto
ry a
ud
its b
y M
NC
clie
nte
le…
stre
ng
th
all fa
cto
ry a
ud
its b
y M
NC
clie
nte
le…
stre
ng
th in
in
inn
ovatio
nin
no
vatio
n
•A
cc
red
ited
an
d w
orld
-cla
ss p
rod
uctio
n fa
cilitie
s
»A
ttain
ed
ISO
:90
01
an
d IS
O:1
40
01 c
ertific
atio
ns
»H
aza
rd A
na
lysis
Critic
al C
on
trol P
oin
ts (H
AC
CP
) co
mp
liant to
en
su
re a
dh
ere
nce to
foo
d s
afe
ty
co
mp
liant to
en
su
re a
dh
ere
nce to
foo
d s
afe
ty
req
uire
ments
•W
ell-e
qu
ipp
ed
lab
ora
tory
tes
ting
fac
ilities
»To
en
su
re o
ur p
rod
ucts
co
nsis
tently
exce
ed c
usto
mers
’ p
ackagin
g b
arrie
r, rete
ntio
n a
nd
mig
ratio
nre
qu
irem
ents
»R
ece
nt b
rea
kth
roug
h in
pro
du
cin
g 2
-laye
r film to
po
tentia
lly re
pla
ce c
on
ve
ntio
nal 4
-laye
r film
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
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ora
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rofile
17
PR
OD
UC
TIO
N F
AC
ILIT
IES
Inte
gra
ted
en
dIn
teg
rate
d e
nd
--toto--e
nd
packag
ing
pro
cess…
eq
uip
ped
with
en
d p
ackag
ing
pro
cess…
eq
uip
ped
with
sp
ecia
lized
insp
ecia
lized
in--h
ou
se
ho
use c
ap
ab
ilities
cap
ab
ilities
Th
eo
nly
pla
ye
rw
ithin
-ho
use
cylin
de
r-mak
ing
,an
do
ne
of
the
few
with
meta
llizin
gan
ds
ea
ling
ca
pa
bilitie
sfo
rq
ua
litya
ss
ura
nce
an
dc
on
sta
nt
imp
rove
me
nt
at
ke
ys
tag
es
Pre
pre
ss
Pre
pre
ss
Cylin
de
r C
ylin
de
r M
ak
ing
Ma
kin
gG
ravu
re
Gra
vu
re
Prin
ting
Prin
ting
La
min
atio
n
La
min
atio
n
(Ex
trus
ion
/ (E
xtru
sio
n /
Dry
)D
ry)
Slittin
g /
Slittin
g /
Ba
gg
ing
Ba
gg
ing
CP
P F
ilmM
eta
llize
r
Up to
9-c
olo
ur 2
-sid
ed p
rintin
gIn
-house c
apabilitie
sS
olv
ent-b
ased/fre
eC
apabilitie
s in
clS
tandin
g P
ouch
Opera
tions
Hig
hlig
hts
Fin
ancia
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vestm
ent M
erits
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ora
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rofile
18
PR
OD
UC
TIO
N F
AC
ILIT
IES
(CO
NT
’D)
CP
P F
ilmM
eta
llize
r
To b
uild
hig
h b
arrie
rsP
olyp
ropyle
ne s
ealin
g film
s
Div
ers
ified
clie
nte
le o
f lead
ing
bra
nd
s…
a s
tron
g te
sta
men
t to
Div
ers
ified
clie
nte
le o
f lead
ing
bra
nd
s…
a s
tron
g te
sta
men
t to
ou
r ind
ustry
rep
uta
tion
an
d q
uality
ou
r ind
ustry
rep
uta
tion
an
d q
ualityO
pera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
19
CL
IEN
TE
LE
Fo
od
Be
ve
rag
eF
MC
GS
pe
cia
lty
Lead
ing
flexib
le p
ackag
ing
so
lutio
ns p
rovid
er, w
ith e
nvia
ble
L
ead
ing
flexib
le p
ackag
ing
so
lutio
ns p
rovid
er, w
ith e
nvia
ble
re
pu
tatio
n
rep
uta
tion
exceed
ing
40
exceed
ing
40 y
ears
years
……
2010
–O
bta
ined L
ette
r of V
alid
atio
n fro
m U
SA
for e
lectro
nic
packagin
g
2011 –
Acquire
d h
igh-s
peed p
rintin
g m
achin
e; A
cquire
d m
eta
llizer
to p
roduce u
ltra h
igh b
arrie
r films;
Accre
dite
d w
ith IS
O:1
4001
2012 –
Set u
p C
leanro
om
for b
aggin
g p
rocess
2013 –
Supplie
r to P
epsiC
o T
haila
nd (C
hia
ng M
ai p
lant);
Win
ner o
f the T
op O
vera
ll Corp
ora
te-G
overn
ance A
ward
2013 in
Mid
-Cap C
ate
gory b
y Min
ority S
hare
hold
ers
Watc
hdog G
roup
2001
–In
corp
ora
ted
Au
stralia
n su
bsid
iary
; Accre
dite
d w
ith IS
O:9
00
1
2009
-A
cqu
ired
9th
prin
ting
ma
chin
e; O
bta
ine
d H
ALA
L Ce
rtificatio
n;
1999
–S
upplie
r to N
estle
M’s
ia
2002
–A
cquire
d m
eta
llizer
with
Pla
sm
a T
ech to
pro
duce h
igh-b
arrie
r films;
Reg
ion
al S
up
plie
r to N
estle
in S
EA
2008
–A
cquire
d w
ide w
eb p
olyp
rop
ylene film
makin
g m
achin
e
2007
-R
eceiv
ed G
old
Aw
ard
for th
e C
olo
rpak
Packagin
g E
xport
Aw
ard
at A
ustra
lian P
ackagin
g A
ward
s2004
–A
cquire
d M
’sia
’s 1
st5
-laye
r-blo
wn film
machin
e to
pro
duce
transpare
nt b
arrie
r films
2003
–T
ransfe
r to M
ain
Board
(now
Main
Mark
et); A
ccre
dite
d w
ith H
AC
CP
Reg
ion
al s
up
plie
r for B
AT
2010
–O
bta
ined L
ette
r of V
alid
atio
n fro
m U
SA
for e
lectro
nic
packagin
g
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
20
CO
RP
OR
AT
E T
IME
LIN
E
1994
–A
cqu
ired
faste
st extru
sion
lam
ina
tor in
SE
A
1996
-M
ov
ed
to cu
rren
t pre
mise
s with
>3
25
,00
0sq
ft bu
ilt-up
are
a
1990
–A
cquire
d m
eta
llizer
to p
roduce in
-house m
eta
lized film
s; L
iste
d o
n 2
nd
Board
of K
LS
E (B
urs
a M
’sia
)
1987
–A
cquire
d p
olyp
ropyle
ne film
-makin
g m
achin
e to
pro
duce in
-house film
s
1984
–S
tarte
d in
-house p
rintin
g c
ylinder m
akin
g
1972
–E
sta
blis
hed in
Mela
ka w
ith 1
0,0
00 s
qft
pla
nt; M
oved to
larg
er p
rem
ises w
ith 1
65,5
27 s
qft
Wid
e ra
ng
e o
f packag
ing
so
lutio
ns fo
r vario
us p
rod
uct
Wid
e ra
ng
e o
f packag
ing
so
lutio
ns fo
r vario
us p
rod
uct
fun
ctio
ns…
fu
nctio
ns…
Co
nsta
ntly
C
on
sta
ntly
inn
ovatin
g fo
r ch
an
gin
g
inn
ovatin
g fo
r ch
an
gin
g re
qu
irem
en
tsre
qu
irem
en
ts
Film
Typ
eA
pp
lica
tion
s / U
se
Hig
h P
erm
ea
bility
Ba
rrier / P
erfo
rma
nc
eC
offe
e, N
uts
, Po
tato
Ch
ips
Co
st E
ffec
tive
Ba
rrier
Sn
acks, B
iscu
its, W
afe
r, Ch
oco
late
, C
ake
s
Ge
ne
ral P
ac
ka
gin
gO
ute
r Pa
ck, N
oo
dle
s, B
iscu
its, W
afe
rs
Sp
ec
ialty
Ap
plic
atio
nL
ab
ellin
g, Ic
e-c
rea
m, F
roze
n F
oo
d,
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
21
PR
OD
UC
T A
PP
LIC
AT
ION
S
Ce
rea
l Pe
el S
ea
l, Se
aso
nin
g O
il, P
ow
de
r / Liq
uid
De
terg
en
t,
Sh
ow
er F
oa
m, T
ob
acco
, Pe
t foo
d
Exp
erie
nced
man
ag
em
en
t with
ind
ustry
exp
ertis
eE
xp
erie
nced
man
ag
em
en
t with
ind
ustry
exp
ertis
e……
Th
om
as L
im S
oo
Ko
on
, Ma
na
gin
g D
irec
tor
-H
old
s a
degre
e in
Bachelo
r of S
cie
nce In
dustria
l Engin
eerin
g a
nd M
anagem
ent fro
m O
kla
hom
a S
tate
Univ
ers
ity, &
Maste
r of B
usin
ess A
dm
inis
tratio
n d
egre
e fro
m O
kla
hom
a S
tate
Univ
ers
ity.M
aste
r of B
usin
ess A
dm
inis
tratio
n d
egre
e fro
m O
kla
hom
a S
tate
Univ
ers
ity.
-Join
ed D
aib
ochi in
1995, a
nd w
as a
ppoin
ted a
s M
anagin
g D
irecto
r in F
ebru
ary
2005.
-P
layed a
key ro
le in
build
ing G
roup’s
MN
C c
liente
le.
Da
tuk
Wo
ng
So
on
Lim
, Ex
ec
utiv
e D
irec
tor
-A
n a
ccounta
nt b
y tra
inin
g a
nd a
mem
ber o
f the M
ala
ysia
n A
ssocia
tion o
f the In
stitu
te o
f Charte
red S
ecre
tarie
s a
nd
Adm
inis
trato
rs.
-H
as a
n e
xte
nsiv
e e
xperie
nce a
nd k
now
ledge in
the fie
ld o
f accountin
g, fin
ance, c
onsulta
ncy, c
orp
ora
te fin
ance,
manufa
ctu
ring a
nd p
roperty
develo
pm
ent. In
stru
menta
l in lis
ting o
f the C
om
pany.
Lo
w C
ha
n T
ian
, Ex
ec
utiv
e D
irec
tor
-H
old
s a
degre
e in
Bachelo
r of E
ngin
eerin
g fro
m th
e U
niv
ers
ity o
f Weste
rn A
ustra
lia.
-H
as w
ide e
xperie
nce in
manufa
ctu
ring, p
roperty
develo
pm
ent, b
usin
ess a
nd fin
ance.
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
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vestm
ent M
erits
Corp
ora
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rofile
22
KE
Y M
AN
AG
EM
EN
T
-H
as w
ide e
xperie
nce in
manufa
ctu
ring, p
roperty
develo
pm
ent, b
usin
ess a
nd fin
ance.
Lo
w J
in W
ei, E
xe
cu
tive
Dire
cto
r
-H
old
s a
degre
e in
Bachelo
r of C
om
merc
e (M
ajo
r in F
inance &
Mark
etin
g) fro
m U
niv
ers
ity o
f Sydney, N
SW
, Austra
lia.
-P
rior to
this
, Mr.
Low
was th
e M
anagin
g D
irecto
r / Pro
ject D
irecto
r of G
lassK
ote
(Mala
ysia
) Sdn B
hd fro
m 2
005 to
Septe
mber 2
010.
Gro
win
g in
stitu
tion
al fo
llow
ing
Gro
win
g in
stitu
tion
al fo
llow
ing
……
No
. of s
ha
res
(‘mil)
Pe
rce
nta
ge
*(3
1.1
2.2
013)
Lo
w C
ha
n T
ian
, ED
10
.10
8.9
%
Lim
Ko
yP
en
g8
.62
7.6
%
Ap
ollo
Asia
Fu
nd
Ltd
8.4
97
.5%
Da
tuk
Wo
ng
So
on
Lim
, ED
6.9
26
.1%
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
23
MA
JO
R S
HA
RE
HO
LD
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S
* Exclu
din
g 4
6,2
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hare
s b
ought b
ack b
y th
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om
pany a
nd re
tain
ed a
s tre
asury
share
s a
s a
t 31-D
ec 2
013
Gro
wth
in fle
xib
le p
ackag
ing
to b
e le
d b
y th
e A
sia
n re
gio
n…
G
row
th in
flexib
le p
ackag
ing
to b
e le
d b
y th
e A
sia
n re
gio
n…
p
en
etra
tion
into
new
pro
du
ct c
ate
go
ries to
brin
g n
ext
pen
etra
tion
into
new
pro
du
ct c
ate
go
ries to
brin
g n
ext w
ave
wave
••F
lex
ible
pa
ck
ag
ing
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rke
t, wo
rth
Fle
xib
le p
ac
ka
gin
g m
ark
et, w
orth
$
58
.3
$5
8.3
bil
bil
in 2
011
, es
tima
ted
to
in 2
011
, es
tima
ted
to
rea
ch
$2
31
re
ac
h $
23
1 b
ilb
ilin
20
18
in 2
01
8(S
ou
rce
: Th
e F
utu
re o
f Glo
ba
l Fle
xib
le P
acka
gin
g to
20
16
” an
d “T
he
Fu
ture
of
Global c
onsu
mer fle
xible packaging
consu
mptio
n by re
gion, 2
011
(% sh
are by volume)
(So
urc
e: T
he
Fu
ture
of G
lob
al F
lexib
le P
acka
gin
g to
20
16
” an
d “T
he
Fu
ture
of
Glo
ba
l Fle
xib
le P
acka
gin
g to
20
18
” by S
mith
ers
Pira
)
–F
avo
ure
d fo
r its v
ers
atility, c
om
pa
rativ
e lo
w
co
st a
nd
po
ten
tial fo
r inn
ova
tion
.
–G
row
th in
Asia
’s fle
xib
le p
acka
gin
g s
ecto
r le
d b
y In
dia
an
d C
hin
a in
tan
de
m w
ith
eco
nom
ic d
eve
lopm
ent a
nd
urb
an
izatio
n
••In
du
stry
tren
ds
ind
ica
te o
ng
oin
g
Ind
us
try tre
nd
s in
dic
ate
on
go
ing
e
vo
lutio
ne
vo
lutio
n(S
ou
rce
: Pa
cka
gin
g W
orld
, Ap
ril 20
13
)
–M
ore
“ea
sy-o
pen” p
acka
gin
g d
em
an
ded b
y
Opera
tions
Hig
hlig
hts
Fin
ancia
l Revie
wIn
vestm
ent M
erits
Corp
ora
teP
rofile
24
IND
US
TR
Y IN
SIG
HT
–M
ore
“ea
sy-o
pen” p
acka
gin
g d
em
an
ded b
y
cu
sto
mers
be
gin
nin
g to
be
ma
tch
ed b
y
ad
va
nced m
ach
inery
–In
cre
ased p
en
etra
tion in
to n
ew
foo
d
ca
tegorie
s (e
.g. b
ab
y fo
od
, so
up
s, h
ea
lth
an
d b
ea
uty
pro
du
cts
, fertiliz
ers
)
