PRESTAR RESOURCES BHD
KLSE (MYR): PRESTAR (9873)
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probability
14,481 posts
Posted by probability > 2017-05-31 20:48 | Report Abuse
(PRESTAR, 9873, Main Board Industrial Products Group) is actively expanding its business reach to the ASEAN market with a population of 600 million, while looking at a number of major road fence supply projects.
Hongda Resources Director Dato 'Du Youping said after the shareholders' meeting that the company had an office and warehouse in Indonesia four years ago and was responsible for the distribution of Malaysian products. In view of this, the company has expanded its business to Thailand this year And set up an office in the area.
The next goal is to enter the Philippine market
He pointed out that the next goal of Hongda Resources is to enter the Philippine market.
Du Youping pointed out that Hongda resources to withdraw from the Vietnamese market, because the local business environment is full of challenges, despite the low wages, but the Vietnamese dong is a serious devaluation, almost 30%, plus bank interest up to 18%, far more than the Malaysian interest 5 to 6% high.
"After considering, as long as the strengthening of automation in Malaysia, can still save costs, therefore, will decide to transfer the Vietnamese manufacturing industry back to Malaysia."
Du Youping said Hongda Resources currently does not plan to open manufacturing plants in markets outside of Malaysia and will focus on the marketing business of the ASEAN market.
25% of the turnover of Hongda Resources is from the steel processing business, the remaining is the downstream manufacturing business; steel processing business mainly for the domestic market, downstream manufacturing business, export market turnover contributed 15%.
Du Youping pointed out that Hongda Resources is one of the largest fence suppliers in Malaysia with a market share of more than 50%.
He said Hongda Resources also has operations in East Malaysia and is responsible for supplying fencing rails on Pan Borneo Avenue and participating in the West Coast Highway project.
He pointed out that the company also has a bid to supply the road fence.
Duyou Ping believes that the steel market is still challenging, mainly by fierce competition, high prices and rising staff salaries and other aspects of the challenge, but still optimistic about the development prospects of Hongda resources.
Du Youping also said that the company's business involves the middle and downstream, therefore, can play a leverage, assuming that the price of steel raw materials, the middle reaches of the business will be good, on the contrary, the downstream business will benefit.
Du Youping pointed out that with a number of different suppliers pick up, will make the raw material prices more competitive, and cost savings.
In addition, the small shareholders who do not want to be named, pointed out that Hongda resources involved in the manufacture of auto parts, customers, including Proton, the second domestic car, etc., and in Puteng and China Geely alliance, the management believes that will be able to drive the business growing up.