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Ancom Nylex Records New Best-ever RM81.5 Million Net Profit For FY2023/24

Business Today ·  Oct 29, 2024 06:15


Southeast Asia's leading chemical group, Ancom Nylex Bhd, announced that the group achieved another best-ever net profit of RM81.5 million, backed by a revenue of RM2 billion for the financial year from June 1, 2023 to 31 May 2024 (FY2023/24), according to a press statement circulated by the company on Oct 29.

Speaking after the 55th Annual General Meeting (AGM), Managing Director (MD) and Group Chief Executive Officer (CEO) of Ancom Nylex, Datuk Lee Cheun Wei said, "Moving forward, we remain focused on executing our growth strategies, where we are charting good progress with our new active ingredient while also expanding the application of our agricultural chemical products to new crops."

The group's prospects have improved especially with Helm AG's recent establishment as its long-term strategic substantial shareholder in September 2024.

The German-based Helm AG is one of the world's leading independent chemicals marketing and distribution companies.

The group has also appointed Mr. Stephan Schnabel, the CEO of HELM AG, and Ms. Kew Hui Chin, Head of Asia for HELM's Chemicals business, as new directors of Ancom Nylex. Both are seasoned business practitioner with over 25 years of experience in the chemicals sector.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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