Written by Bernama
Friday, 02 October 2009 00:36
PETALING JAYA: Cable support system manufacturer UNITED U-LI CORPORATION BHD [] plans to invest between RM40 million and RM50 million over the next three years to set up a new factory in the Klang Valley.
Its executive director Datuk Lee Yoon Kong said the new plant to be located on a site of eight to 12 hectares was expected to be ready by 2012.
“We are buying land in Selangor and we intend to merge all of our existing four plants into one,” he told reporters after the company’s EGM here on Oct 1.
The company’s four factories are located in Seri Kembangan, Balakong, Taming Jaya and Ipoh.
Lee said the project was to enable the company to monitor all the manufacturing process of cable support systems, including light fittings, under one roof.
United U-Li currently exports its products to West Asia, Australia and Vietnam.
At present, the local market makes up 70% of the company’s customer base with the remaining 30% from the export market.
“Moving forward, we are looking to expand our export market to Europe as we believe it provides better margin on returns,” Lee said, adding that the company had already entered the French market.
The products and services supplied by the company are used extensively in the telecommunications, oil and gas, transportation, power generation, waterworks and CONSTRUCTION [] sectors.
Shareholders of United U-Li on Oct 1 approved the appointment of Baker Tilly Monteiro Heng as its new auditor with immediate effect, taking over from Roger Yue, Tan & Associates.
The new appointment was in regard to a court case in which the Securities Commission charged Yue Chi Kin with abetting United U-Li in submitting false information to Bursa Malaysia Securities Bhd.
This was in relation to the pre-tax profit declared by United U-Li to Bursa Securities in its annual report and financial statements for the year ended Dec 31, 2004. The financial statements were audited by Roger Yue, Tan & Associates, in which the accused was the engaging partner. — Bernama
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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