By Xavier Kong
THE trade war between China and the United States is an area of opportunity for Ancom Bhd, said group CEO Lee Cheun Wei (pic).
During a briefing on Jan 13, he shared his belief that the two countries are too different, based on a report he read, and that China would overtake the US after 2038.
However, this presents opportunities, according to Lee, stating that Malaysia is a country that can trade with both countries, and can stand as a hub for trade between them.
“Malaysia is a relatively stable country in the region, with no concerns of military coups or natural disasters, with room for infrastructural growth as well,” said Lee.
This bodes well for Ancom, considering the company is moving towards a focused growth in its agricultural chemical businesses, via its 47%-owned listed subsidiary Nylex Bhd and its wholly-owned subsidiary Ancom Crop Care Sdn Bhd, of which Lee is also the managing director.
The divesting of the group’s media division is in line with this move towards focusing on its agro-chem businesses. Lee pointed out that the group currently holds only 30% of the media division. The remaining 70% is held by Thai-based Bangkok Transit System Pcl (BTS), through its listed subsidiary, VGI Pcl.
Ancom’s shares were last done at 67 sen at 4.50pm, up three sen, with 1.4 million shares changing hands. Its Main Market subsidiary Nylex (M) Bhd saw its shares last traded at 60 sen, up two sen, with 271,900 shares traded, while its ACE Market subsidiary Ancom Logistics Bhd was last done at 6.5 sen, up half a sen with 100 shares traded. – Jan 13, 2020
