Malaysian HeveaBoard, manufacturer of particleboard and modular furniture under the HeveaPac brand, plans investments for the 2016 financial year of MYR 20 million (EUR 4.4 million) for the modernization of its production capacity.
According to local media, roughly MYR 8 million (EUR 1.8 million) of the planned investment is for the particleboard line at the Gemas site and MYR 12 million (EUR 2.6 million) is to be invested on production of RTA furniture in the Seremban site. In the particleboard plant, HeveaBoard plans to improve quality and increase production by 10-15%. In the furniture plant, the product range is will be optimized and diversified by a new children's furniture line.
HeveaBoard utilises rubberwood residues and has subsidiaries producing downstream Ready-to-Assemble furniture manufacturing and other panel products. In 2015 Heveaboard exported about 80% of its particleboard production mainly to China, Japan, South Korea, India. Most RTA items are for Japan, Europe, Australia and the United States.
HeveaBoard was incorporated in 1993 as a private limited company under the name of HeveaBoard Sdn Bhd. The company was converted into a public limited company in 2004 and assumed its present name, and was subsequently listed on the main board of Bursa Malaysia Securities Berhad in January 2005.
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