It plans to venture into the original equipment manufacturing (OEM) activities in 2012 to produce automotive spare parts and components. The company would target both local and international automotive makers.
Securing businesses from automotive makers would be important as they provided a steady inflow of revenue as they normally had long-term contracts with the OEM suppliers.
Under the OEM venture, all Triumphal local activities under wholly-owned subsidiary USG Products Sdn Bhd, would be shifted to China. USG Products manufactures and sells heavy machinery and spare parts and its activities would be taken over by TAS’s wholly-owned subsidiary China-based Triumphal Precision Engineering (Zheijiang) Ltd.
The company would consolidate its operations in Malaysia and Singapore with
subsidiaries in the two countries to focus in trading and distributing of spare parts for heavy machinery, equipment and wire ropes.
Despite the new development, the company would continue to focus on its niche area – the after-market for spare parts and components for automotive and heavy machinery and equipment.
The company’s wholly-owned subsidiary M.T.T.S. Pte Ltd’s subsidiary companies – Beijing USG Machinery Co Ltd, Wuhan Shengchang Machinery Co Lt and USG Far East International Trading (Shanghai) Ltd are involved in development, manufacturing and trading of spare parts, earth moving equipment, engineering tools, machinery components and floating seals.
For the financial year ended Dec 31, 2009, Triumphal recorded RM5.36mil net profit on RM139.46mil revenue against RM9.48mil net profit and RM156.16mil revenue registered in FY2008 respectively.
Wednesday, June 30, 2010
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