Tuesday, April 26, 2011

Yeo Hiap Seng to allocate RM30m as capex

SUBANG JAYA: YEO HIAP SENG (M) BHD [] plans to allocate RM30mil as capital expenditure (capex) in FY2011 following the consolidation of its Shah Alam and Petaling Jaya plants, its chief operating officer Ong Chay Seng said.

Speaking to reporters after the food and beverage company's AGM on Tuesday, April 26, Ong said this was a significant increase from the RM2 million capex in FY2010.

"This is the highest capex level in the last five years," he said, adding that the funds would go towards new machinery and buildings.

YHS is expected to release its 1QFY2011 results later Tuesday.

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