Press Metal success 'fruit of the last few years' - CEO

The aluminium smelting plant in Samalaju hit full production capacity of 640,000 tonnes per annum last year

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KUALA LUMPUR (Dec 15): Press Metal Aluminium Holdings Bhd's achievement today is the “fruit of the last few years” as the aluminium smelter and extruder reached full capacity amid better market sentiment, group chief executive officer Tan Sri Paul Koon Poh Keong said. 

The Edge Malaysia business and investment weekly in its latest December 18 - 24 issue quoted Koon as saying in an interview both factors have contributed to the Press Metal Aluminium's growth.  

"Make it (Press Metal Aluminium) continue to grow, make it an international player. There is no reason why we cannot do that. We just need to work at it. It is important in this industry that you become a significant player with volume. 

"Our whole team is behind the company. Everything has to work together … with support from friends, banks, states and the market. We have always focused on aluminium as we believe in this metal. We believe aluminium will be used more and more in the future," Koon said ahead of Press Metal Aluminium's inclusion in the FTSE Bursa Malaysia (FBM) KLCI on Monday (Dec 18).

On Nov 30 this year, Bursa Malaysia said in a statement that Press Metal Aluminium and Nestle (M) Bhd would be included in the 30-company FBM KLCI following the semi-annual review of the FBM Index Series. "All constituent changes take effect at the start of business on Monday 18 December 2017 and the next review will take place in June 2018," Bursa Malaysia said.

On Friday (Dec 15), Press Metal Aluminium shares closed at RM4.98 for a market capitalisation of RM19.09 billion. For a better understanding on Press Metal Aluminium under Koon's leadership, kindly pick up and read the latest issue of The Edge.

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