National Panasonic can maintain growth


BY DANNY YAP

NATIONAL Panasonic (Malaysia) Sdn Bhd expects to maintain double-digit growth in profit for the financial year ending March 31, 2003, despite the prevailing global economic conditions. The company registered a turnover of RM863mil last year. 

Its managing director Jiro Tomotani said the company had not seen a slowdown in consumer demand for electrical goods in the domestic market. 

“We should match last year’s performance,” Tomotani told Starbiz after a prize-giving ceremony to Panasonic dealers in Petaling Jaya yesterday. 

Centre front: National Panasonic (Malaysia) Sdn Bhd managing director Jiro Tomotani (centre) and executive director (sales and marketing)rector Sng Kim Huat (left of MD), finance director Ng Chee Keong with contest judges selected from the company and members of the media.

The contest entitled Big!!@Panashop organised by National Panasonic was held from Nov 15, 2002 to Jan 15, 2003 and winners received free holidays to various destinations around the world. 

The contest was held in conjunction with the company’s “Crazy Frenzy” year-end campaign aimed at increasing sales.  

Tomotani said National Panasonic was confident sales would continue to improve despite the possibility of war in Iraq. 

“We have a good mix of white goods and electrical products for different budgets, which is National Panasonic’s bread and butter and we have also seen an improvement in the sales of our high-end products such as home theatres, plasma televisions and digital cameras,” he said. 

Tomotani said Malaysia had a sizeable middle and higher income group of people with strong purchasing power for electrical goods. 

According to Tomotani, generally Ma- laysians now enjoy a higher lifestyle and are prepared to spend on electrical items considered a luxury in the past.  

“They used to spend on special occasions only but now it's more often and sometimes unpredictable spending pattern. But our refrigerators and washing machine are still in good demand,” he said, adding that they were one of the best-selling electrical items of the company. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Lucid to start deliveries of electric cars with range exceeding Tesla's in October
Saudi launches $13 bln plan to turn coastal region into tourism hub
Brent oil dips after topping US$80 a barrel, highest in nearly three years
BlackRock says it is dipping its toes back in to China after rout
GLOBAL MARKETS-Stocks fall, bond yields jump as rate hikes loom
Vote of confidence
Indonesia’s massive 2022 budget gets key approval
China's power crunch dwarfs Evergrande's troubles in investors' eyes
AEON Credit Q2 net profit up 46% to RM75.5mil
MRCB buys out George Kent's stake in LRT3 project joint venture�

Stories You'll Enjoy


Vouchers