Its Myanmar aluminium can business has hit the snag due to political uncertainty. The first loss making entity in aluminium can, US is another loss making operations too.
@treasurehunt With a result like that, and with high gearing, and the experienced president leaving, the future is bleak for the group if run by Yeoh family. I will be surprised if their financiers will not be concerned.
Yeoh did exceptionally well in trading and marketing business. He disposed 60% stakes in KingKoil for RM 116 million and condensed milk operations for RM 900 million in 2016. The biggest joke was he went into headache can manufacturing business through acquisition of Kian Joo.
Yeoh made big fortune out of his investment in Can One and Kian Joo. But the guys who helped him left. Whether he and his family have enough expertise to run the business is questionable. The new finance team seems to only know how to kitchen sink it seems….
The can factories in Kian Joo are far more diversed than original Can One. Production of cans ranging from exploiting high speed machine and low speed junks for big cans. Complex and messy. Being a CEO in CanOne is a life suffering job. Hahaha
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treasurehunt
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Posted by treasurehunt > 2023-12-01 10:06 | Report Abuse
Able global do well in tin can manufacturing even if the operation is much smaller than CanOne.