CCP, as reflected by the name, commenced operation
as a manufacturer of corrugated carton products. Since
its incorporation, it has grown steadily culminating
in its listing on the Second Board of the KLSE on
8 November 1991.
In
December 1994, CCP was involved in a reverse takeover
exercise whereby Pangkalan Bekalan Kemaman Sdn Bhd
(PBKSB), an asset owned by the Terengganu
State Economic Development Corporation or better known
as Perbadanan Memajukan Iktisad Negeri Terengganu
(PMINT) was injected into CCP. PMINT,
with 40% shareholding after the injection, emerged
as the largest shareholder of CCP.
CCPs
listing was promoted to the Main Board on 11 August
1995. The Company changed its name to Eastern Pacific
Industrial Corporation Berhad (EPIC) on
5 March 1996 to better reflect the purpose of EPICs
existence as a catalyst for the development in the
Eastern Corridor.
In
line with that objective, the Group underwent a series
of rationalisation exercise whereby the corrugated
carton business was disposed in November 1998, 2 of
its dormant companies namely Corrugated Carton Products
(Kulim) Sdn Bhd and Primasuri Hygienic Products Sdn
Bhd were disposed to PBK in December 1999 to prepare
the Group for business expansion. On 30 April 2001,
EPIC disposed its 70% shareholding in EPIC-Babena
Sdn Bhd as it was a single purpose company for the
construction of the State Stadium Project which was
shelved in the year 2000. Since then, the Group has continuously
been on the lookout for new business opportunities
that would enhance shareholders value. |