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Malaysian electricity group to expand into leather market

02/06/2004

Malaysian electricity company, MESB Bhd, has said it expects the majority of its earnings for 2004 to be generated by its new branded leather goods business.

 

According to the company’s chairman, Saffie Bakar, the group’s proposed acquisition of Miroza Leather Sdn Bhd is expected to be completed by the end of this month.

 

Miroza Leather operates 30 retail outlets throughout Malaysia and sells goods produced by Pierre Cardin, Alain Delon, Crocodile, Giossardi and Lizard. The company exports goods to Thailand, the Philippines, Vietnam and Dubai. Its profits after tax totalled M$3 million ($789,577) during the financial year 2003.

 



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