Asia File supports free trade agreements
GEORGE TOWN: Stationery maker Asia File Corp Bhd, which expects its growth to be driven by overseas markets, is supportive of any free trade pacts by Malaysia.
Citing savings of between three and six per cent in duty charges if a free trade agreement (FTA) is inked with countries it does business with, chairman Lim Soon Huat said: "FTAs between Malaysia and any country would support Asia File since they benefit those (companies) that are efficiently managed."
Asia File has manufacturing plants in Penang, Germany and the United Kingdom.
Speaking after the company's annual shareholders' meeting here, Lim said the company expects sales to domestic markets to reduce as it continues to leverage on the aggressive expansion of its products and customer base overseas.
Lim expects 2014 to remain challenging for the filing industry, adding that Asia File is constantly looking for opportunities but did not discount the possibility of more acquisitions.
In April last year, Asia File acquired a second manufacturing facility in the UK.
For its financial year ended March 31 2013, the company's turnover rose to RM323.3 million but profit before tax dipped to RM56.13 million.
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