Scientex wants to list PU adhesives maker Cosmo
Kuala Lumpur, Malaysia-Scientex Incorporated Bhd (SIB) intends to float its 30-percent-owned associate Cosmo Scientex (M) Sdn Bhd on Bursa Malaysia in the next two years to raise funds for future expansion, according to a report in online news source TheEdgeDaily.
SIB’s managing director Lim Peng Jin said Cosmo Scientex has a 50 percent market share in the polyurethane adhesive market for flexible packaging in Malaysia and contributed about 5 percent to group profits for the financial year ended 31 July 2004.
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