LEADING tiles manufacturer and information technology (IT) company YB Ventures Bhd (formerly known as Yi-Lai Bhd) is gearing up to resume manufacturing operations at its Kulai plant in Johor as most of its 600-strong local and foreign workforce have been fully vaccinated.
After having ceased operations for three months, the group now has an order backlog of up to three months to fulfil.
“Resumption of our business activities will enable a return to some form of normalcy, putting us on the right track to move forward and do our part to help boost the economic recovery of the country,” commented YB Ventures’ executive director Datuk Au Yee Boon.
“Our priority now is to fulfil the backlog of orders that have built up since the full movement control order (FMCO) which started on June 1.”
As of today, the group which is allowed to operate at 80% capacity is expected to be fully operational at 100% capacity once some of its operational workers are cleared from quarantine and has completed their second dose of vaccine. The entire cost for the inoculation process was absorbed by the group.
“Our customer’s best interest and our worker’s safety is at the top of the list in these unprecedented times against the COVID-19 pandemic,” Au pointed out.
“In compliance with standard operating procedures (SOPs) issued by the National Security Council and Health Ministry (MOH), RTK Antigen Testing will be made mandatory every two weeks for all employees alongside regular sanitisation and disinfection works.”
Moving forward, Au is optimistic that the property, construction and building material sectors are set to experience a gradual recovery in tandem with positive economic growth slated for 2022.
“Towards 4Q 2021, we have seen pent-up demand for properties, an effective vaccine roll-out programme and low-interest rates. All these are set to bolster businesses that took a hit since last year,” he added.
In this regard, YB Venture’s proprietary flagship product – the Talos Living Tiles – had gained traction by receiving overwhelming enquiries from its potential customers, both local and overseas.
Utilising the company’s ground-breaking Nano Glazing technology, the coated tiles produces and releases negative ions into the air, thus improving indoor air quality and having a healing effect on the body.
This product bodes well with the group’s expansion plan as the booming demand for health-friendly products shows no sign of slowing down amid the high vaccination rate.
YB Ventures has recently raised RM48.4 mil from its irredeemable convertible unsecured loan stock (ICUL) for its expansion in the tiles manufacturing business. More than 90% of the proceeds raised will be utilised to upgrade the existing production lines and to construct four new production lines.
At the close of today’s trading, YB Ventures was down 2 sen or 4.04% to 47.5 sen with 991,300 shares traded, thus valuing the company at RM115 mil. – Sept 20, 2021
