NHFATT ... Jun12

Automotive replacement parts manufacturer New Hoong Fatt Holdings Bhd (NHF) plans to capitalise on the growing automotive market, especially in the neighbouring region. The group would intensify its focus on overseas expansion.

Since the implementation of the Asean Free Trade Agreement (AFTA) in 2010, the group has widened its market reach and seen its export revenue increase steadily year-on-year over the last five years.

In 2011, the group recorded export revenue of RM65.1 million, a 26.1 per cent increase from RM51.8 million in 2010.

It remains committed to grow its market share in Asean countries by establishing ourselves in several countries in the region and have secured a notable position in the international automotive replacement parts market.

NHF set up two overseas subsidiaries in 2011 PT NHF Auto Supplies in Indonesia and Ampire Auto Parts (Shanghai) Co Ltd in China to capture international markets.

On the local front, NHF's branch in Gombak will be consolidated with the Segambut branch in June 2012. Its Segambut warehouse is being expanded to include a RM7 million double-storey warehouse, expected to be completed at the end of 2012.

In 2011 the group recorded revenues of RM215.6 million, down 3.1 per cent from RM222.5 million in 2010, but export revenues increased 26.1 per cent.