Alcom sets to sustain recovery

Aluminium Company of Malaysia Bhd (Alcom) says it will be able to sustain its recovery after being hit by soft demand for its products globally last year.

The company has been affected by the US and eurozone economic crisis, regional impact of the earthquake in Japan, political crisis in the Middle East and North Africa as well as severe flooding in Thailand.

Newly appointed managing director Tom Boney said Alcom would begin to build a higher-value product portfolio while broadening and deepening its customer base and relationships.

“We will further enhance our cost management, operating performance and productivity levels, which will be essential for margin preservation and to deliver a strong financial performance,” he said after Alcom AGM.

“We will also continue to work towards creating opportunities out of the challenges arising in order to derive maximum benefits and create value to stakeholders in financial year 2013,” he added.

Alcom remained profitable in the financial year 2012. It achieved a consolidated pre-tax profit of RM2.4mil compared with RM8mil previously.

It was one of the winners of the Novelis EHS-GOLD Award for Outstanding Achievements in Environment, Health and Safety. The Novelis Group operates from 29 plants in 11 countries located in four continents.

Chairman Tunku Tan Sri Imran Tuanku Ja'afar said financial year 2013 remained challenging in view of the gloomy outlook of the global economy and uncertainties from the volatility of the ringgit, higher oil and metal prices as well as energy cost hikes.

“Alcom will respond with tight mitigation measures and continue to remain profitable,” he said.