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Nikkei Markets

Malaysia Heveaboard Estimates Fungi Project To Add Up To MYR10 Million In Revenue-Official

By Gho Chee Yuan
Nikkei Markets
KUALA LUMPUR (Jul 28) -- Malaysian furniture maker Heveaboard estimates its new fungi cultivation project could boost revenue by up to 10 million ringgit ($2.3 million) in the first year, while demand from Japan for its mainstay products could pick up in the months ahead, its managing director said.

Heveaboard plans to spend 10.5 million ringgit out of its total budgeted capital expenditure of 48 million ringgit this year to build new climate-controlled gourmet fungi cultivation facility, Yoong Hau Chun told Nikkei Markets. However, bulk of the capital spending will go towards a new factory for its core furniture products, he said.

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