PETALING JAYA: Ornapaper Bhd
is proposing to diversify its existing businesses to include property development and property investment.
In a filing with Bursa Malaysia, the company said it is currently involved in the manufacturing of corrugated boards and carton boxes (paper packaging), paper-based stationery products as well as the provision of logistics services in Malaysia.
“The group recorded minimal revenue growth over the financial years under review and its financial performance in recent years has been volatile and is highly dependent on the supply and fluctuation of the raw materials costs such as paper rolls.
“The proposed diversification will facilitate the entry of the group into the property business, which will provide new sources of revenue and income stream for the future growth of the group.”
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