KUALA LUMPUR: Chemical Co of Malaysia Bhd (CCM) plans to expand its presence significantly in South-East Asia and other markets soon.
“Our international business is fairly small and we want to go all out,” said executive director Amirul Feisal Wan Zahir after the company’s AGM yesterday.
He said Malaysia, with its estimated 27 million population, was tiny, especially for the company’s pharmaceutical business.
“Indonesia, the Philippines and Vietnam will be the key markets for expansion. Also, we have submitted 10 pharmaceutical products for registrations and approvals in Saudi Arabia.
“We hope to obtain the approvals in the first half of next year. Once that happens, we should have easier access to other GCC (Gulf Cooperation Council) countries,” he added.
Amirul Feisal said the Middle East would be a new growth market although the company was now serving the region through agents.
He added that CCM also wanted to capitalise on its halal products’ expertise and perhaps, form alliances with international partners in the food industry.
On the company’s chemical business, Amirul Feisal said the renewable energy sector was a potential new market. “We are looking at supplying chemical products to solar panel or battery manufacturers.”
On its fertiliser business, he said there was strong demand for compound fertilisers from the palm oil industry due to weather conditions and rising labour costs.
He also pointed out that the company’s new fertiliser plant in Lahad Datu, Sabah, would be operational in the next few months to serve the Borneo market.