The corrugated board industry is however facing declining growth in an age where products are becoming smaller. Growth for the group used to average an annual 9 per cent in the late 80s but this has since fallen to around 3-4 per cent in the past few years. Industry in Singapore is becoming more hi-tech and the use of packaging is declining,'' said Mr Wong. There is not much we can do about it because we are a supporting industry. Plans are currently underway for the group to build a 35,000 sq ft factory in Shah Alam, Kuala Lumpur, which will be operational by June next year.
China is also a possibility.
We are looking at setting up two to three factories in China. Fujian is a definite possibility. We are in the midst of negotiations there,'' said Mr Wong. The Enterprise 50 list, compiled by Andersen Consulting and The Business Times, and supported by the Economic Development Board, ranks the top 50 most enterprising privately-held local companies. Far East Packaging Industrial is ranked 43rd on the 1995 Enterprise 50 list .