GEORGE TOWN: NTPM Holdings Bhd
will leverage on the growing demand for eco-friendly products to expand its business.
In its 2024 annual report, NTPM said it would capitalise on the growing demand for eco-friendly products by providing briefings for customers that promote the group’s green-featured products with recycled and low-carbon contents.
“The group will continue to expand its sustainable recycled grade manufacturing process and maximise the conversion of wastes into valuable products. It will take a new marketing position for recycled grade with eco-friendly products,” the firm said.
NTPM believes its objective of becoming a green company would improve sales and reduce its environmental carbon footprint.
“The personal care products segment remains a vital growth segment with the sustained high level of health awareness about intimate hygiene, and the group will continue to devote resources to develop more high-quality products.
“The group has streamlined its in-house production capacity and sales effort for its personal care products in Thailand and Vietnam.
“It will work on improving its competitiveness and market presence by expanding and improving its distribution channel within and outside Malaysia,” it added.
NTPM will also focus on product innovation by optimising its product mix to increase brand competitiveness and the group’s profit margin.
In financial year 2024 (FY24), NTPM faced challenging conditions because of geopolitical tensions, wars, uncertain US dollar movement, high interest rates, competition from China’s tissue paper products and high sea freight costs. According to NTPM, these conditions are likely to persist.
The group added that in pursuit of sustainable, profitable growth, it would expand its product range and introduce automation to reduce costs. NTPM will also explore new export markets such as the United States and Europe, leveraging the prevailing evolution in the global supply chain.
The group’s annual production capacity in Vietnam and Malaysia is 160,000 tonnes.
NTPM has about 50% unused capacity, which reinforces the group’s market position and allows it to explore new business opportunities and meet customers’ evolving needs domestically and internationally.
The current consumption of tissue paper products in Vietnam was between 1.75kg and two kg per capita, while Malaysia’s consumption is 4.75kg.
The per capita consumption in Thailand and Vietnam is expected to grow by a single-digit percentage in FY25.
According to the Canada-India-based Precedence Research, the Asia-Pacific tissue paper market size, estimated at US$7.60bil in 2023, is projected to increase to around US$10.68bil by 2033, growing at a 3.46% compounded annual growth rate to 2033.
