Voir considers expansion into construction, logistics

KUALA LUMPUR: Fashion apparel company Voir Holdings Bhd is mulling over a plan to expand into the construction and logistics businesses to diversify the company’s income base.

According to the company’s chairman, Datuk Zarul Ahmad Mohd Zulkifli, the final decision on the rationalisation plan including the proposal tthat will determine the future direction of the company will be made within this year.

He said the company was also likely introduce a dividend policy to benefit shareholders.

“One of the things that will be considered is how my private business can fit into Voir to enhance the shareholders’ earnings. I have my construction and logistic businesses. We are looking at the possibility of Voir venturing into the two areas, subject to relevant authorities’ approval,” Zarul told reporters after the company’s AGM here.

He said the paper on the rationalisation plan would be presented to Voir’s board.

“This will decide on the direction we are going and how it will impact Voir’s shareholders,” Zarul said, noting that the company would present the business plan to shareholders once a decision is made.

“I believe we should be able to have a dividend policy because I think we should move towards becoming more transparent,” he added.

Zarul, who emerged the biggest shareholder of Voir over a year ago after acquiring a 50.71% stake in the company through a private vehicle Vista Lestari Sdn Bhd, hoped Voir would have a bigger market capitalisation in the future.

Zarul is involved in several infrastructure projects including the undersea tunnel and three paired roads jobs in Penang through Consortium Zenith BUCG Sdn Bhd, a property development and construction company. He is also linked to Asia Freight Rail Sdn Bhd which is pursuing a licence to operate rail freight.

According to Zarul, Zenith is awaiting approval from the Department of Environment before embarking on the construction of major highways in Penang.

On the company’s apparel business, Zarul said while Voir would scale down the division, it should not be construed that Voir would terminate the business.

“There are areas in the apparel business which are still profitable and they have the potential to grow. We will maintain the businesses that are viable,” Zarul said.

In a statement, Voir said it would continue to explore new product lines to target different market segments in the retail sector.

This strategy would include expanding the sub-labels under the existing brands and/or diversification into other lifestyle products and services.