Bursa Malaysia Stock Watch
New Hoong Fatt to expand ops in Indonesia
kltrader
Publish date: Fri, 11 Mar 2011, 09:17 AM
kltrader
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New Hoong Fatt Holdings Bhd (NHF), the leading automotive replacement parts maker, plans to expand its operations in Indonesia.
In a statement today, NHF said it has identified Indonesia as part of its growth strategy.
NHF is encouraged by the significant growth and developments within the car industry in Indonesia which includes the launch of new vehicle models and a growing commercial vehicle segment, it said.
It said the recent set-up of PT NHF Auto Supplies Indonesia was another step to bring the company closer to its customers. PT NHF Auto Supplies would focus on marketing, distribution and trading of NHF's extensive range of products, it said.
According to the Indonesian Automotive Industry Association (Gaikindo), 2010 vehicle sales in Indonesia surged 65 per cent to 764,710 units from 464,816 units in 2009.
Gaikindo is forecasting the total industry volume for this year to reach between 780,000 and 830,000 units. -- Bernama
In a statement today, NHF said it has identified Indonesia as part of its growth strategy.
NHF is encouraged by the significant growth and developments within the car industry in Indonesia which includes the launch of new vehicle models and a growing commercial vehicle segment, it said.
It said the recent set-up of PT NHF Auto Supplies Indonesia was another step to bring the company closer to its customers. PT NHF Auto Supplies would focus on marketing, distribution and trading of NHF's extensive range of products, it said.
According to the Indonesian Automotive Industry Association (Gaikindo), 2010 vehicle sales in Indonesia surged 65 per cent to 764,710 units from 464,816 units in 2009.
Gaikindo is forecasting the total industry volume for this year to reach between 780,000 and 830,000 units. -- Bernama
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