P C House Holdings to manufacture rubber

Shirajiv SIRIMANE

S H M Rishan

P C House Holdings Ltd is looking at diversifying to the manufacture of rubber based products. This would be mainly for the export market.

Chairman PCH, S H M Rishan speaking to Daily News Business said that they are currently on the look out to acquire a manufacturing facility to launch their operations. "Our aim is to have more than 60% value addition for these products to maximize our profits," he said. We would also be looking at putting together leather based products once again targeting the export market.

Rishan also said that the PCH would be obtaining a listing in the Colombo Stock Exchange on Thursday. "Though this may not be an appropriate time, we already have 100 share holders who have requested us to obtain a listing," he said. "I am hoping to sell around Rs 50 million shares depending on the market appetite," he disclosed. Commenting on the global apparel market he said that Sri Lankan manufacturers are now in with a new opportunity. "China is more keen to manufacture electronic products and employees get more 'wages' in those sectors which has resulted in 'Made in China' apparels getting more 'expensive'.

With labour unrest in Bangladesh and new unions agitating for higher salaries, Bangladesh too is now not a 'favourite' among buyers. "Due to labour unrest 'orders' from Bangladesh too have delayed which has given new openings for Sri Lanka.