UMS HOLDINGS BHD, a distributor of mechanical power transmission products, hopes to maintain last year's turnover of RM45.2mil for the year ending Sept 30, 2003, according to its managing director Billy Ng.
Ng said with the advent of Asean Free Trade Area (Afta), the company hoped to take advantage of the lower tariffs for mechanical components imported from Asean nations.
We hope to source our parts from our principals who also have plants in Indonesia, Singapore and Thailand and through this we can lower our costs, he said, adding that Malaysian buyers would be able to look forward to cheaper power transmission products.
UMS distributes conveyor belts and chains, gear motors, rollers and complementary products used by large factories all over the country.
With Afta, import taxes will be reduced from 30% to only 5%, Ng said. In addition to Asean, the company also sources from its principals in China and Korea.
Ng said in the long run, the company hoped to invest in the distribution of complementary products so as to expand its business. Right now we are strengthening our balance sheet with emphasis on prudent credit and being up to date on debt collection.
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