FYE 2023 ASIA FILE REVENUE RM317M, PRE-TAX PROFIT RM43.8M

Engineer entrepreneur, Dato' Lim Soon Huat, major shareholder of Asia File Corporation Bhd, ventured into the filing products business in 1986 and created a global Malaysian brand ABBA files. It has a strong presence in the UK market and Europe. Headquartered in Penang, Asia File has 7 production and warehousing sites in Malaysia, 2 manufacturing plants and one paper mill in the U.K and 2 manufacturing facilities in Germany. Asia File was listed on the Second Board in 1996 and transferred to the Main Board of Bursa Malaysia in year 2000. For FYE the Group reported total revenue of RM317.6 million and pre-tax profit of RM43.8 million. 

Dato' Lim (66) graduated from the University of Melbourne, Australia with a Master Degree in Engineering. He was involved with civil engineering projects before the ambition to run his own business led him to set up Asia File. To create a brand for filing products that has found success in the UK market and globally is a compelling story for a Malaysian. Dato' Lim's two daughters, Lim Chin Chin (42) and Lim Mei Chin (38) are also qualified engineers from the University of Melbourne. Chin Chin joined the Group in 2005 and takes charge of the consumer, food ware and new ventures of the group. Mei Chin joined in 2008 and is in charge of the Soft Plastic Division and Paper Mill Division. They are not on the Board of Asia File. 

Realising that the digital era brings with it an eventual totally paperless world, Asia File diversified into the recyclable food wares and consumer wares in 2018  to expand its product portfolio. Marketed under the brand ABBAWARE, the Group has succesfully penetrated the market. Contribution from this division is 15.6% (RM49.6 million) of total Group revenue. Dato' Lim is confident that the growth of food delivery in the e-commerce economy will augur well for its recyclable consumer ware products. 

Dato' Lim owns 43.14% of the shares of Asia File while Amanah Saham Bumiputera owns 19.4%. He also has deemed interest in 23.69% of listed Muda Holdings Berhad, a paper mill company. 

ACKNOWLEDGEMENTS

1. Asia File Corporation Bhd. 2023 Annual Report. https://www.asia-file.com/ir/agm2023/AnnualReport2023.pdf
2. Star Cherish. Obituary. Datin Khoo Saw Sim. https://www.starcherish.com/profile/obituaries/36636
3. Dato' Lim Soon Huat. Asia File Corporation Bhd. https://www.ey.com/en_my/entrepreneur-of-the-year/ey-entrepreneur-of-the-year-malaysia/2020-top-nominees/dato--lim-soon-huat
4. The Edge. 4 April 2014. https://theedgemalaysia.com/article/interview-filing-products-far-sunset-industry-asia-file
5. MIDF Research. 15 April 2022. https://www.midf.com.my/sites/corporate/files/2022-04/Asia%20File-Pivoting%20through%20Disruptions-Bursa%20Rise-MIDF-150422.pdf
6. Muda Holdings Berhad. 2022 Annual Report. https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=224295&name=EA_DS_ATTACHMENTS