Stability and growth: G.B. Industries team celebrating its exporter of the year for the mid-tier and large companies segment and the gold industrial products award for mid-tier and large companies segment at the EEA 2023 Gala Night. — YAP CHEE HONG/The Star
DESPITE economic fluctuations, G.B. Industries Sdn Bhd has successfully maintained its export performance in line with expectations, according to the company.
While certain major markets experienced a slowdown due to post-pandemic overstocking, the company’s ability to adapt ensured its continued stability and growth.
Instead of retreating in the face of uncertainty, the established manufacturer of electrical safety products capitalised on opportunities in high-potential markets like the United States, China and South Korea, driving significant growth.
The company identified gaps in the utility and industrial sectors, providing specialised, high-quality solutions that met the precise needs of customers in these regions.
The declining US dollar foreign exchange rate posed a significant challenge but G.B. Industries took proactive steps to mitigate risks, it said.
Through strategic hedging contracts and minor pricing adjustments, the company maintained profitability. Additionally, cost reduction initiatives played a crucial role in cushioning the impact without compromising quality.
Rather than relying solely on existing product lines, G.B. Industries has introduced new offerings tailored for high-growth markets.
These innovative solutions generated an additional RM1mil in revenue, demonstrating strong market reception and reinforcing the company’s commitment to meeting evolving customer needs.
A key differentiator for G.B. Industries in 2024 was its investment in automation and sustainability.
The adoption of robotic arms has significantly improved production efficiency, while advanced heat exchange technology reduced electricity consumption.
The innovations not only optimised costs but also aligned with the company’s long-term environmental goals.
While many industries struggled with supply chain disruptions and trade policy shifts, G.B. Industries remained largely unaffected.
Building on its momentum, the company shared that it is set to leverage automation and increased production capacity to reduce lead times and enhance competitiveness in 2025.
A game-changing initiative will be the introduction of QR technology on all products, allowing end-users to track product lifecycles and customise in-service requirements.
Additionally, the company is exploring a strategic shift towards a business-to-consumer (B2C) model, transitioning from its traditional business-to-business (B2B) approach.
This move aims to foster direct engagement with end-users, providing tailored solutions and strengthening customer loyalty.
The company added that winning at the Export Excellence Awards (EEA) last year was more than just an accolade – it was a validation of G.B. Industries’ strategic direction.
While the global market impact is still unfolding, the award has bolstered employee morale, strengthened supplier relationships, and enhanced the company’s reputation, it said in an interview.
The EEA 2024 is organised by Star Media Group in partnership with Standard Chartered Malaysia, and PKT Logistics Group as a co-sponsor, and Matrade as patron.
It is audited by BDO.
Submissions for the Awards programme will close on Feb 13, 2025.
Interested businesses are encouraged to submit their entries soon.
For more information on EEA 2024, go to exportawards.com.my or email eea@thestar.com.my
