Panasonic plans to expand product range

21 Aug 2023

Panasonic Manufacturing Malaysia Bhd (PMMB) is remaining cautious on growth prospects, amid continued market uncertainty.

Given the uncertainties in both macro and micro economies, triggered by geopolitical concerns, inflation and rate hikes, the company said it is actively managing the supply chain and material cost challenges.

“The company will continue to focus on cost optimisation exercises and efforts to improve operational efficiency while expanding our business,” it said in its annual report.

Chairman Datuk Azman Mahmud said PMMB is focused on expanding the product range of its core businesses by introducing new products and new export markets, while actively seeking investment in new businesses.

“This is to address the loss of the contribution from the termination of our two businesses, namely rice cooker products and small kitchen appliances.

“The company has identified certain water-related products which are currently under the development stage and should be launched within the next financial year,” he said.

Source: The Star