BANDAR SERI BEGAWAN
South Korean conglomerate Shinwoo Group is planning to build a manufacturing plant here in Brunei that will see mass production of goods in high demand in the region.
Although the product range the facility will churn out is still tentative, the company projected that they may look into producing Halal food and cosmetics.
“The product range depends on the available materials in the country, and so far, we are still weighing on which materials are in abundance and can be utilised,” said Sung Weonwoo, Director of the group’s local extension Shinwoo Brunei Company (SBC).
“We would definitely want to combine our expertise with the Bruneians through this venture,” he added.
Shinwoo holds a portfolio that include duty-free chain operation, construction materials fabrication and logistics related business, with experience accumulated since 1988.
The conglomerate so far has established its presence in other countries in the region, particularly in Hong Kong and China.
Sung said construction of the plant would the final stage of SBC’s “three-step” plan in entering Brunei. The company recently opened a B$5 million duty-free shop at the Brunei International Airport, and that it is looking at setting up more in the capital.
The director said that it may take a few years before it could start development of the plant.
“It’s only natural for us to stabilise our sales and grounds and make enough preparation to move into the next step (of our plan),” he added.
Sung also revealed that the company is looking at bringing in more South Korean companies into Brunei by the end of this year, hoping that they could strike a partnership deal with local businesses and investors.