BERNAMA - SCIENTEX LESTARI TO BUY LAND FOR RM299 84 MLN IN JOHOR bernama.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bernama.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR: Scientex Bhd's indirect subsidiary Scientex Lestari Sdn Bhd has entered into a conditional sales and purchase agreement with Seriemas Development Sdn Bhd for the proposed acquisition of six parcels of freehold land in Mukim Senai in Kulai, Johor, for RM299.84mil.
This value chain collaboration enables ocean bound plastic (OBP) to be successfully brought back into circular material stream for conversion to high-quality flexible packaging.
Sabic has collaborated with Scientex in the packaging value chain to enable the manufacturer to develop material for the reportedly world’s first flexible food packaging made based on advanced recycled OBP, using Sabic certified circular polypropylene (PP). The material is being used in a premium brand noodles packaging sold in Malaysia.
Scientex Packaging (Ayer Keroh) Bhd (formerly known as Daibochi Bhd) saw its net profit in the second quarter ended Jan 31, 2022 (2QFY22) fall 22.57% to RM11.69 million from RM15.1 million in the previous year’s corresponding quarter, due to a rise in raw material and freight costs.