Scanwolf to diversify into construction and construction-related activities

• The company, which is principally engaged in the designing and manufacturing of plastic extrusions, polyvinyl chloride (PVC) compounding, processing of PVC coils and trading of industrial consumables, said it had secured shareholder approval in an extraordinary general meeting.

KUALA LUMPUR (July 3): Scanwolf Corp Bhd (KL:SCNWOLF) is diversifying into construction and construction-related activities.

In a statement on Wednesday, the company, which is principally engaged in the designing and manufacturing of plastic extrusions, polyvinyl chloride (PVC) compounding, processing of PVC coils and trading of industrial consumables, said it had secured shareholder approval in an extraordinary general meeting.

It said the results of the poll were validated by independent scrutineer Asia Securities Sdn Bhd.

Scanwolf’s other activities include property development and investment holding.

The company said that as part of the move, Scanwolf, through its wholly owned subsidiary Scanwolf Properties Sdn Bhd, had entered into a joint-venture agreement with Ratna Bina Sdn Bhd on June 28 for the development of a piece of land in Selangor.

“This collaboration signifies Scanwolf's entry into the thriving Selangor real estate market, underscoring its commitment to pursuing growth opportunities in high-potential sectors.

“The diversification into construction and related activities aligns with Scanwolf's strategic vision to create a more resilient and diversified business model,” it said.

Scanwolf said that by entering the construction sector, it aims to capitalise on growing demand for construction services and infrastructure development in Malaysia.

“This move is expected to provide new revenue streams and enhance the group's long-term sustainability,” it said.

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