Malaysia’s Supportive to set up toy plant in Vietnam

Malaysia’s Supportive International Holdings Bhd will expand its toy manufacturing business to Vietnam early next year, local media reported.

The company would initially lease a 10,000-sq-ft plant (929 sq metres) in Ho Chi Minh City , Group executive chairman Lee Kuang Shing said, adding that about 5 million USD will be injected into the facility, which will create 300 to 400 jobs.

“The rationale for going into Vietnam is that we are finalising a deal with IKEA, the Swedish-based toy and furniture retailer, to obtain a three-year, 15 million USD contract to manufacture wood and plastic-based toy products,’’ the Star online quoted Chairman Lee as saying.

“The move will also bring us close to IKEA’s operations in Vietnam,” he added.

VNA

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