‘Market for condoms expanding worldwide’
KUALA LUMPUR: Karex Bhd, the world’s largest condom manufacturer, said the global market for condoms continues to expand, driven by the need for family planning and protection against sexually-transmitted diseases.
Chief executive officer Goh Miah Kiat said the low per capita consumption of condoms in Asia offered huge potential for growth.
Aggressive marketing via social media is being carried out in several underdeveloped countries.
“Last year, we launched the ‘Nasi Lemak’ condoms and the response was good. Backed by popular requests, we will soon launch our ‘Teh Tarik’ condoms,” he said on the sidelines of the IRGCE 2018.
As the world’s largest condom exporter, Karex produces five billion condoms annually from four factories in Malaysia and Thailand, with the bulk channelled to governments or international agencies for safe-sex drives.
Under the 2016 Budget, the government accorded reinvestment allowance to manufacturers, with up to 60 per cent of the allowed capital expenditure for 2016, last year and this year.
“Automation is key to ramping up productivity. Government incentives, such as raising the limit of reinvestment allowance and extending it beyond this year, is vital for capital intensive businesses such as ours,” said Goh.
Malaysia exported RM436.80 million worth of condoms last year.
Meanwhile, Karex’s “Teh Tarik” condoms attracted huge interest yesterday. Samples of the condoms were quickly snapped up.
“We didn’t expect so many visitors. We have run out of samples,” said Karex client service executive Natalie Ho.