Polymer targets to penetrate US market

KUALA LUMPUR: Plastic powder compounds manufacturer Polymer Link Holdings Bhd, which made its debut on Bursa Malaysia’s LEAP Market today, plans to expand its business into the US market.

Group managing director and chief executive officer Eddie Koh Song said to achieve the target, the company intends to rent warehouse premises in the US and try to get customers in the country as well as in Canada.

???The company’s future plans are focused on expanding our customer base locally and internationally, creating new warehouses in the US and enhancing our product reach.

???We also target to secure new customers in the Asia Pacific, involving countries like Australia, China, India, New Zealand, Papua New Guinea, Thailand and a few European countries,??? he said at the listing ceremony of Polymer on LEAP Market of Bursa Malaysia here today.

Polymer started its trading session on the LEAP Market on a positive note, trading at a three sen premium from its initial public offering (IPO) price of 12 sen.

Polymer is the fourth company listed on the LEAP Market this year, which saw 50,000 shares traded when Bursa Malaysia opened this morning.

Polymer is expected to raise RM5.55 million via listing on the LEAP market, of which 51.4 per cent or RM2.86 million will be used for general working capital.

Out of the RM5.55 million, 27 per cent or RM1.5 million will be used for shareholder advances while 21.6 per cent or RM1.2 million will be spent for the listing expenses.

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