From packaging to property, Malaysia’s Scientex eyes ‘affordable homes’ in Indonesia, Thailand

[KUALA LUMPUR] BURSA-LISTED Scientex, which made its name on the global manufacturing stage for its flexible packaging, is taking a bolder step to expand its property division to different parts of South-east Asia.

Last month, the 55-year-old company announced that its wholly-owned subsidiary Scientex Quatari had entered into a joint venture (JV) with Japan’s Creed Property and Indonesia’s Mustika Land for its maiden foray into Indonesia.

This marked Scientex’s property division’s second venture into the regional property market. Last year, it took a minority stake in a separate JV with Creed Group and Thailand’s Altitude Development to develop a project in Bangkok.