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Hiap Huat to double production capacity

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Hiap Huat to double production capacity Empty Hiap Huat to double production capacity

Post by Cals Fri 24 Jan 2014, 16:28

Hiap Huat to double production capacity
Business & Markets 2014
Written by Shalini Kumar of the edge Malaysia.com   
Friday, 24 January 2014 13:01

Pulau Indah (Jan 24): Hiap Huat Holdings Bhd is looking to double its production capacity of recycled base oil to 30,000 tonnes per annum with the launch of its third plant in Pulau Indah. 

The plant, called Topmark Petroleum Products Sdn Bhd, will increase Hiap Huat's market share in Malaysia to 50 - 60%, from 34 - 35% currently. 

The investment cost for the Pulau Indah plant is RM32 million. 

Looking ahead, group managing director Chan Say Hwa told reporters the group is on the lookout for more opportunities to expand their exports into overseas markets. 

"We already have a presence in Myanmar, Singapore and Indonesia and about 5% of our base oil is exported there. We hope to increase this to about 30% - 40% in the future," he said. 
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