Mr. Jimmy Ng Lip Chye
Chief Executive Officer
Rapid fluctuations in raw material pricing and reductions in the price of products and services are becoming the norm in today’s market. This has affected both our sales and profits to a considerable degree. Silverpack has increased market share in the Asean region. Increasing sales volume to counter this effect thereby diluting our fixed cost to provide a flavourable outcome.
The ever-increasing value in Reminbi has affected us significantly. Silverpack has purchased a piece of land in Bentong Pahang, Malaysia to commerce manufacturing in Malaysia to supply to the Asean market to reduce our exposure to foreign exchange fluctuations by third quarter 2016.
The milestone that Silverpack has achieved is testament to the hard work and dedication of everyone who has contributed to our journey. From our humble beginnings, the Silverpack team – past and present – has never lost sight of our co-operative ideals and our people assisting client philosophy.
Silverpack has gained a foothold outside of our main market in mainland China. Growth has been rapid in our export market of Singapore, Malaysia and Thailand. During FY 2015, we have constantly aimed to expand and open up more export market. We have many exhibitions which show our ambition to expand and penetrate out of the Asean Region. Some of the exhibitions are MIHAS 2015, Thaifex 2015, Wofex Phillippines 2015, Australia Fine Food 2015 and Sweets & Snacks Middle East 2015 in Dubai.
Going forward, I am determined to maintain the market leadership position of Silverpack. To achieve our motto of “Your flexible packaging partner” through high quality packaging products and services, we have to remain steadfast in our motto, which focuses on our clients and people.
As we face the uncertain world of change and the exciting challenges of the ever-changing market, we have embarked on ambitious initiatives to move ahead. With an energized management team, Silverpack is set to re-engage the market at an unprecedented level. We look forward to all our clients’ support, our peoples’ commitment and passion to see through our next phase of transformation to make a more nimble and clients orientated Silverpack.