PUCHONG (March 26): AESSEAL Plc, a UK-based industrial pipe seal maker which counts notable Malaysian plantation firms as clients, has no plans to list on Bursa Malaysia.
AESSEAL chief executive officer Richard Pickles said the company, which counts IOI Corp Bhd and Kuala Lumpur Kepong Bhd as customers, was comfortable with its current business structure.
The current business structure of AESSEAL has helped its Malaysian unit achieve financial growth as the group capitalises on its new regional hub here to expand within the Association of Southeast Asian Nations (Asean) region.
According to AESSEAL Asia operation director Koh Choon Siew, the group's new regional headquarters would be an anchor to strategise long-term business development plans for the group's UK and Malaysia businesses.
“We are going to capitalise on AEC (ASEAN Economic Community), which is going for full implementation by January 2016.
“Asean has tremendous growth potential for businesses and AESSEAL is determined to work closely with all our business partners in the East Asian region to ensure we are able to positively contribute to the growth of the people in this region,” Koh told reporters, after the launch of the new headquarters here.