APP mulls diversifying into property development

By THE EDGE

APP Industries Bhd, a manufacturer of ceramic gardenware, pottery and ornamental products, is mulling the possibility of diversifying into the property sector.

“We are looking into property development in Malaysia as we feel that this sector is still robust,” its group executive director Chan Chun Keong said.

Speaking to reporters after its AGM here yesterday, he added that any venture into the property industry was likely to be via an acquisition of a property development company.

Chan also said that it may expand its operations in China, where production costs were lower, to mitigate the effects of the strengthening ringgit on its revenue.

“We need to look for more competitive sources of production. However, our Malaysian operations will be focused towards producing more high-end niche products, which are customised, with special shapes, colours and glazes,” he added.

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