KUALA LUMPUR (Dec 10): Cymao Holdings Bhd said today the group is in the final stage of discussion with several parties on a potential new viable business venture to reduce the plywood maker s reliance on its core business.
In its filing with Bursa Malaysia today, Cymao said that in light of the plywood industry remaining challenging, the group has been exploring new business opportunities to expand its core business or diversify its businesses to reduce reliance on the existing core business as well as to expand the company s earnings base. The management of Cymao is of the view that this new business venture could potentially improve the financial performance of the Cymao Group, the company said.