New high for Dagang NeXchange Bhd
KUALA LUMPUR: Ni Hsin
Resources Bhd is expecting China to become its largest export market and take over the pole position from Japan.
"We are expecting 50% of export sales to come from China in three years and this would add to our earnings," its managing director Chen Shien Yee said on Monday.
Japan is presently the biggest export market for the company's cookware.
Ni Hsin had on Monday signed an exclusive distributorship agreement with China's Mingkeda group to export its kitchenware there.
Just last week, Chen said Ni Hsin was eyeing to enter the China market with its in-house cookware brand, Pentoli, in a bid to broaden its revenue source.
His upbeat outlook that Ni Hsin would be able to grow its topline by more than 10% this year was due to the renewed manufacturing contracts and the growth potential in new markets.
Its cookware products contribute about 50% of its revenue, while the remainder is from clad metal and convex mirrors.
The company’s in-house brand Pentoli for stainless steel cookware products was introduced in late 2015 through a joint venture with MyAngkasa Holdings Sdn Bhd.
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