Asia File Corp Bhd (Malaysia)

Asia File Corp Bhd produces and supplies stationery. The company also produces and supplies plastic related products. The Group started as a family business and operated a bookshop with a small scale manufacturing facility producing files, selling textbooks and stationery items to retailers. On November 1987 ASIAFILE was incorporated to take over the manufacturing activities of the family business. The main products are paper and board files, which distributes through South East Asia. The Company has also been appointed by foreign OEM customers to manufacture files under international brand names that are not sold locally. The Group has two factories and a head office in Penang with distribution centers cum sales offices in Kuala Lumpur and Johor Bahru respectively. The Company has also set up subsidiaries in the UK and Singapore as representative offices. During the FY 2006, the group completed the construction of a new assembling and distributing plant situated in Puchong, Selangor. During FY2007, ASIAFILE was expanding its existing plant at Permatang Tinggi, Prai, which would have an additional built up area of 9,000 m.sq. On 1st January 2008, the Group completed the acquisition of 100% equity interest of Plastoreg Smidt GmbH & Co and Plastoreg Smidt Verwalt GmbH for a total of RM67.2Mn cash. Both the companies are leading German dividers manufacturers in Europe. As a result of these acquisitions the Group will expand its distribution network in central Europe. ASIAFILE also acquired 20.36% equity interest in Muda Holding Bhd (MUDA), which is involved in paper milling, paper packaging and trading for RM44.5Mn cash. The high quality grey boards produced by Muda are being used as one of the main inputs for the production of ASIAFLE's board filing products. The Investment provides synergistic benefit to ASIAFLE via its participation in profitable business activity involving upstream products. Asia File Corp Bhd was incorporated in 1994 and is based in Ipoh.