One of Malaysia’s top packaging companies is investing an initial P500 million to boost its presence in the Philippines, a move to further expand its footprint in the Asean region.
Silverpack Sdn Bhd. is planning to set up a sales office, a warehouse, and eventually a manufacturing facility in the Philippines to cater to a wide range of food industries here, the Embassy of Malaysia Trade Office (Matrade) Manila said in a statement issued Tuesday.
“Instead of setting up their own packaging division, the food manufacturers in the Philippines can focus on their main line of business, if they will tap Silverpack for their packaging needs,” Matrade commissioner Nyaee Ayup said.
The plan is to initially set up an office and warehouse in the Philippines in the next three to four years.
Silverpack regional sales director Jeffrey Ng said the manufacturing plant will be put up in two to three years, enough time to create a market.
“We are expanding because companies are also expanding. When they do well, we will do well as well. Right now, we’re talking to large food manufacturing companies in the Philippines. We will export [our] product first,” Ng explained.
He said the company wants to develop the Philippine market to pave the way for a more aggressive operation in the Asean region.
“Our plan is to set up manufacturing plants in the Asean in 10 years time… We already have a factory in Malaysia and China. We have sales office in Singapore, Sri Lanka and Thailand. We need to set up sales offices in the entire Southeast Asia,” Ng added.
Currently, Silverpack’s clients from the Philippines are mostly small- and medium-sized enterprises (SMEs). Total importation from these SMEs was deemed “quite small,” estimated at P3 million to P4 million a month.
Silverpack’s packaging materials can be used by a wide range of industries, such as coffee, tea, confectionery, milk products, snacks, biscuits, instant food, oil, seafood, pet food, fruit drinks, and even personal care.