Magni-Tech Industries Berhad (Malaysia)

Magni-Tech Industries Berhad is a company located in Georgetown, Malaysia. It was incorporated on March 12, 1997, and listed on the Second Board of Bursa Malaysia Securities Berhad on April 18, 2000. The company was later transferred to the Main Board (now known as Main Market) of Bursa Securities on April 8, 2003. The Chairman of the company is Tan Sri Dato' Seri Tan Kok Ping, and the Managing Director is Mr. Tan Poay Seng. Initially involved in the packaging business, Magni-Tech Industries Berhad diversified into the apparel business. On November 1, 2006, the company acquired South Island Garment Sdn Bhd, an established apparel manufacturer. This diversification has reduced the company's reliance on the packaging business and contributed significantly to its growth. The company's businesses are divided into two segments: the manufacturing and sale of garments, and the manufacturing and sale of flexible plastic packaging goods and corrugated cartons. The garment business accounted for 91.8% of the company's revenue for the fiscal year ending on April 30, 2023. The garment business is undertaken by the company's wholly-owned subsidiary, South Island Garment Sdn Bhd, which operates locally and in Vietnam. SIG has a reputation for being a reliable and trusted manufacturer of high-quality woven sportswear and exports its products to international markets such as European countries, the USA, China, Asia Pacific, Latin America, and Japan. Magni-Tech Industries Berhad's subsidiaries have manufacturing facilities in Malaysia and have been in operation for over 30 years. The packaging products they produce are primarily used by the manufacturing sector, including the food, beverage, healthcare, rubber-based, consumer household, and electronic sub-sectors. While the packaging products are mainly sold locally, a significant percentage of them are used in the packaging of manufactured products destined for export markets.