Evergreen Fibreboard

What Evergreen Fibreboard does

Evergreen Fibreboard Berhad is an integrated wood-based panel manufacturer founded in 1972 (originally as Evergreen Timber Singapore) and listed on Bursa Malaysia under stock code 5101. The company produces medium-density fibreboard (MDF), particleboard, and engineered wood products, with operations spanning 11 manufacturing plants across Malaysia (7 plants), Thailand (3 plants), and Indonesia (1 plant).

The company operates a vertically integrated production model, including in-house resin manufacturing, using equipment from European manufacturers such as Pallmann, Andritz, Dieffenbacher, Wernhoner, and Burkle. Its product portfolio spans MDF (2.5mm-18mm thickness), particleboard (9mm-30mm with 120,000 m3/year capacity), and value-added sub-brands including Ever-Decor, Ever-Lite, Ever-Ply, Ever-Print, Ever-Mine, and Ever-Prime. The company maintains ISO 9001:2015, EPA, and CARB certifications supporting export-grade compliance.

The business operates on a B2B enterprise model with quote-based pricing, exporting to five continents via five major ports. End markets include furniture manufacturers, construction, fixtures, and joinery. With 846,423,985 issued shares and foreign shareholding of 47.27% as of December 2025, the company shows mature public-company characteristics. Market capitalization declined from approximately RM330 million in December 2022 to RM258.2 million in December 2023, indicating downward equity valuation pressure.

Name

Evergreen Fibreboard

Legal name

Evergreen Fibreboard Berhad

Website

https://evergreengroup.com.my

Company type

Public

Founded year

1972

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Evergreen Fibreboard Berhad is an integrated Malaysian wood-based panel manufacturer producing MDF, particleboard, and engineered wood products from 11 plants across Malaysia, Thailand, and Indonesia for global B2B customers in furniture, construction, and joinery.

Ownership category

akta.pro rank

Product category

Engineered Wood Panels

NAICS

Reconstituted Wood Product Manufacturing (321219), Veneer, Plywood, and Engineered Wood Product Manufacturing (3212), Engineered Wood Member Manufacturing (321215), Prefabricated Wood Building Manufacturing (321992)

SIC

Millwood, Veneer, Plywood, & Structural Wood Members (2430), Lumber & Wood Products (No Furniture) (2400)

akta.pro primary industry

Engineered Wood Flooring Substrates & Panels (IMAMACAL)

Keywords

• Engineered wood panels
• Medium density fibreboard
• Particleboard manufacturing
• Wood-based panels
• Value-added wood products

Headquarters

HQ city

Parit Raja

HQ country

Malaysia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. MDF (Medium Density Fibreboard) Sales: Manufacturing and sale of Medium Density Fibreboard in various thicknesses (2.5mm to 18mm), densities, and grades including standard, HMR (High Moisture Resistance), and FR (Fire Retardant) variants. Sold as bare board to furniture manufacturers, speaker box makers, door manufacturers, and construction applications.
2. Particleboard Sales: Manufacturing and sale of Particleboard with capacity of 120,000 m3/year. Product dimensions include 1220mm x 2440mm, 1830mm x 2440mm, and 1525mm x 2440mm with thickness ranging from 9mm to 30mm. Applications include home and office furniture, shelving, kitchen cabinets, and commercial fixtures.
3. Furniture Products: Ever-Lite furniture line made from quality Evergreen boards using innovative flushing technique combining MDF with Particleboard. Light and easy to carry furniture products targeting consumer market.
4. Value-Added Wood Products: Further processed products including Ever-Decor (Paper/PVC Overlay), Ever-Ply (Veneered Laminated Board), Ever-Print (Direct Print Board), Ever-Mine (Melamine Laminated Board), and Ever-Prime (Coated/Embossed MDF) providing higher margin products.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Evergreen Fibreboard Berhad manufactures and sells engineered wood-based panels — primarily Medium Density Fibreboard (MDF) and Particleboard — together with value-added downstream products such as paper/PVC-overlaid boards, veneered laminated boards, melamine laminated boards, coated/embossed MDF, knocked-down furniture and resin. Output is sold B2B to furniture manufacturers, door and speaker-box makers, construction companies, and commercial and institutional fixture producers in markets across 5 continents, using European and Japanese production equipment from Pallmann, Andritz, Dieffenbacher, Wernhoner and Burkle.

Product overview

Evergreen Fibreboard Berhad is a world-class wood-based integrated panel producer manufacturing Medium Density Fibreboard (MDF), Particleboard, and related wood products. The company operates a diversified product portfolio including value-added products such as Ever-Decor (paper/PVC overlay), Ever-Lite (knocked down furniture), Ever-Ply (veneered laminated board), Ever-Print (direct print board), Ever-Mine (melamine laminated board), and Ever-Prime (coated/embossed MDF). The company also manufactures furniture and resin. Evergreen's manufacturing facilities use leading edge equipment from Europe and Japan including Pallmann Refiners, Andritz, Bison Mende, Dieffenbacher CPS Press System, and Wernhoner & Burkle technology. Headquartered in Johor, Malaysia, the company has seven manufacturing locations in Malaysia, three in Thailand, and one in Indonesia.

Differentiator

Problem solved

Functional benefit

Brands

• Ever-Decor: Paper/PVC Overlay MDF/PB product line.
• Ever-Lite
• Ever-Ply
• Ever-Print
• Ever-Mine
• Ever-Prime

Products and services

• Medium Density Fibreboard (MDF) Engineered wood composite board sold as an alternative to solid wood and plywood for furniture, speaker boxes and doors. Produced in thicknesses from 2.5mm to 18mm with HMR (High Moisture Resistance) and FR (Fire Retardant) variants, and formaldehyde emissions meeting CARB P2/EPA, E0, E1 and E2 classifications.
• Particleboard Wood-based panel with a smooth, compact and homogeneous surface for veneer, laminate, melamine and paper overlay applications, used in home and office furniture, shelving, kitchen cabinets, and commercial and institutional fixtures. Thickness 9mm to 30mm in dimensions 1220x2440mm, 1830x2440mm and 1525x2440mm; annual capacity 120,000 m3; meets EN 312-3 P3 (UF/E1) and EN 312-5 P5 (MUF) grades.
• Ever-Decor Paper/PVC overlay product applied to MDF and particleboard substrates to provide a ready-finished decorative surface.
• Ever-Lite (Knocked Down Furniture) Light, easy-to-carry ready-to-assemble furniture line made from Evergreen MDF and particleboard using an innovative flushing technique that combines MDF with particleboard to reduce material cost and wood content.
• Ever-Ply (Veneered Laminated Board) Veneered laminated board that applies a natural wood veneer surface finish to an engineered wood core, sold as a finished panel for furniture and interior fitments.
• Ever-Print (Direct Print Board) Direct print board with decorative patterns printed directly onto the board substrate, eliminating the need for separate overlay lamination.
• Ever-Mine (Melamine Laminated Board) Melamine laminated board offering a durable melamine surface finish on an engineered wood core, used for furniture, cabinetry and interior fitments.
• Ever-Prime (Coated/Embossed MDF) Coated and embossed MDF product with specialised surface treatments that deliver enhanced aesthetics and texture for decorative applications.
• Resin Resin produced internally as part of the integrated wood-based product manufacturing process, supporting the company's binder needs for MDF and particleboard production.

Quantifiable outcome

• Particleboard capacity of 120,000 m3/year
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators6 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Dongwha Enterprise: Korean-listed MDF and specialty wood panel manufacturer with strong Asian distribution and value-added melamine product lines. Comparable MDF-centric product portfolio and downstream value-added focus.
• Samling Group: Malaysian timber conglomerate with MDF, particleboard, veneer and value-added panel operations serving global furniture manufacturers. Comparable scale, integrated upstream-to-downstream model, and similar Southeast Asian manufacturing footprint as Evergreen.
• HeveaBoard Berhad: Malaysian listed MDF, particleboard and downstream panel producer that, like Evergreen, uses rubberwood as its primary fibre source and serves furniture and construction customers across Asia. Direct, in-country competitor with overlapping product portfolio and end markets.
• Robin MDF (Robin Resources / Panel Plus): Malaysian/Thai MDF and panel producer with operations across Southeast Asia focused on furniture and construction end markets. Direct competitor offering comparable thickness ranges and value-added laminate/melamine products.

Broad incumbents

• Kronospan: Global private leader in wood-based panels (MDF, particleboard, OSB) and value-added surfaces serving furniture, construction and flooring markets worldwide. Larger, broader incumbent competing especially in European and Asian export channels.
• EGGER Group: Austrian family-owned producer of MDF, particleboard, OSB and laminated panels serving furniture, construction and flooring customers globally. Broad incumbent with overlapping value-added product lines and similar downstream brand strategy.
• Arauco: Chilean global forest products major producing MDF, particleboard, plywood and engineered wood serving construction and furniture markets worldwide. Larger, broader portfolio incumbent competing with Evergreen in commodity panel export channels.
• Duratex S.A. Brazilian integrated wood products and MDF manufacturer serving construction and furniture segments across the Americas. Comparable integrated panel business model with downstream value-added divisions.
• Sonae Arauco (Sonae Indústria): Iberian-based MDF, particleboard and engineered wood producer with European manufacturing footprint and downstream value-added panel lines. Larger incumbent with comparable product mix focused on construction and interior fit-out.

Others

• West Fraser Timber: Canadian-listed global forest products company with engineered wood (OSB, LVL) and lumber operations supplying North American building and construction markets. Adjacent peer in engineered wood categories rather than a direct MDF/particleboard competitor to Evergreen in Asia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/evergreen-fibreboard-bhd-evf-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Evergreen Fibreboard