KUALA LUMPUR: Decorative surface solutions provider Topmix Bhd has officially launched myRuma, a digital renovation platform aimed at addressing trust and reliability issues within the fragmented renovation industry.
Managing director and myRuma chief executive Teo Quek Siang said the platform – which the company describes as a “high-growth, technology-driven platform designed to enhance transparency, accountability and confidence throughout the renovation journey” – is expected to enhance the company’s net profit margins in about a year’s time.
“We are expecting an increase of approximately 10% in our net profit margin from this platform,” he told StarBiz.
Earlier at a press conference, Teo pointed out that post-lockdowns, the income levels and lifestyle choices of individuals had changed.
He said people are increasingly looking at home renovations as a way to upgrade their lifestyles, and hence, demand for renovations is growing.
Teo said myRuma brings together financing, quality assurance, risk protection and verified professionals under one integrated ecosystem to address the common challenges faced by homeowners in their renovation journey.
Under this digital ecosystem, RHB Bank
Bhd will be offering tailored home and renovation financing solutions.
The collaboration with Topmix shows the lender’s commitment to support homeownership and lifestyle goals, RHB head of consumer finance Sien Vee Loc further noted.
He said the bank is also open to financing renovations alone, without requiring a mortgage.
“This financing type is fairly new for us,” Lee said, declining to reveal the type of margins it could possibly yield.
Under myRuma, Topmix is also working with property developer S P Setia Bhd, marking the platform’s entrance into the developer’s residential township segment – the Setia EcoHill 2 development.
Setia EcoHill 2 divisional general manager Koh Sooi Meng said the collaboration complemented the developer’s efforts to enhance the homeowner experience beyond property ownership, by connecting residents with “reliable design-and-build professionals and solutions that promote greater transparency, quality and confidence”.
Meanwhile, myRuma has also introduced the Reno Playbook – which it said is Malaysia’s first renovation quality manual to promote greater consistency and ensure renovation works adhere to professional construction standards.
“Together, these initiatives collectively strengthen myRuma’s commitment to enhance quality, accountability and transparency throughout the renovation journey.
“To further reinforce the reliability and operational integrity of the ecosystem, myRuma has partnered with independent quality assurance providers, insurance specialists, syariah-compliant financing institutions and brand partners to deliver a comprehensive and trusted renovation experience.”
Teo said while the company’s initial rollout of the platform will focus on the Klang Valley, he is confident that its growth will pave the way for expansion into more regions across Malaysia.
At last look, Topmix, which is listed on Bursa Malaysia’s ACE Market, closed unchanged at 42 sen apiece.
