FENC Initiates a New Green PET Production Construction in Malacca, Malaysia

Malacca, Malaysia - April 19, 2024 - Far Eastern New Century Corporation (FENC), a leading global manufacturer in sustainable materials, is proud to announce the groundbreaking ceremony for the construction of its green PET resin production facility, FE GREEN PET (M) SDN BHD, located in Malacca, Malaysia. This new construction marks a significant milestone in FENC's commitment to environmental sustainability and innovative solutions for the plastics industry.

Polyester Business Acting President of FENC Donald Fan and Senior Vice President Eva Luo participated in the groundbreaking ceremony together with Chief Minister of Melaka State.

FENC is investing in a food-grade recycled PET resin line at FE GREEN PET (M) SDN BHD, with operations expected to commence by mid-2025. The facility will have an annual capacity of 50,000 metric tons, reinforcing FENC's position as a global leader in sustainable materials production.

Since its inception in 1995, a member of Far Eastern Group, Far Eastern PET FAR EASTERN (M) SDN BHD, based in Johor, Malaysia, has been supplying PET food-grade preforms to local beverage brands and exporting to numerous countries worldwide. This new construction of food-grade recycled PET resin capacity in Malacca enhances vertical synergy, integrating upstream and downstream products with PET FAR EASTERN (M) SDN BHD. This strategic move strengthens FENC's position as a comprehensive provider of sustainable packaging solutions. Next Monday, April 22nd, happens to be Earth Day, a day when people of different nationalities promote and practice environmental conservation concepts in various ways. As one of the world's largest manufacturers of polyester products, we has long been dedicated to green and eco-friendly industries.

FE GREEN PET (M) SDN BHD employs cutting-edge technology to utilize locally sourced PET bottles as raw material. Through advanced processes including sorting, cleaning, decontamination, and pelletizing, high-value recycled PET resin is produced, ensuring both environmental sustainability and product quality. This meets sustainability goals and aligning with the Malaysian government's mission to increase PET bottle recycling rates and environmental sustainability.

Far Eastern New Century ranks among the top three global food-grade recycled PET resin enterprises, supplying renowned brands such as Coca-Cola, Pepsi, Suntory, Fiji Water, and local brand such as F&N, Nestle, Etika and Pokka. With expansions into markets including Japan, the United States, Vietnam, the Philippines, and Malaysia, FENC is committed to meeting the growing demand for sustainable packaging solutions worldwide.

In response to the challenges of global climate change, Far Eastern New Century is taking proactive measures. Through technological innovation, energy-efficient equipment, and carbon capture technologies, FENC aims to reduce carbon emissions by 20% by 2025, 40% by 2030, and achieve Net-zero by 2050.

As we break ground on this momentous expansion project, Far Eastern New Century Corporation reaffirms its dedication to sustainability, innovation, and global leadership in the plastics industry. We look forward to a future where sustainable materials drive positive change for generations to come.