ABM Fujiya to expand into S. America

  • Business
  • Wednesday, 24 Jul 2013

KUALA LUMPUR: Automotive battery maker ABM Fujiya Bhd aims to expand its wings to South America next year and was already identifying target customers there.

Deputy managing director Datuk Tay Tze Poh said that Chile, Argentina, Brazil and Mexico were potential markets the group was eyeing for further expansion.

The group, which makes the Fujiya and Challenger brandS of batteries, has already ventured into Europe, Indochina and the Middle-East.

“We are already sourcing possible customers with the contacts we have now, and once we establish contact we will knock on their doors,” he told reporters after the company’s listing on the Main Market of Bursa Malaysia yesterday.

ABM Fujiya debuted at 65 sen for a premium of five sen over its initial public offering price of 60 sen.

The Kuching-based company IS already present in Myanmar, Cambodia and Vietnam and is planning to expand within the region in the future.

Tay said overseas operations contributed 48% to the group’s bottom line.

Besides expanding abroad, the group also aims to grow its domestic market share by next year.

“We are planning to increase our domestic market share which currently stood at 7.9%,” he said.

In view of the positive economic outlook, coupled with the group’s competitive strength and business plans, Tay was optimistic of the company’s performance in the coming financial quarters.

ABM Fujiya registered a pre-tax profit of RM2.01mil and revenue of RM32.34mil for the first quarter ended March 31, 2013. — Bernama

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