New Hoong Fatt eyes growing China, Indonesia auto markets

KUALA LUMPUR: Car replacement parts manufacturer and distributor, New Hoong Fatt Holdings Bhd (NHF), expects the outlook for the next year to be positive and China a target for its products.
In
a statement today, its managing director, Chin Jit Sin, said NHF was
confident China would be a major market in years to come.
"With China as the world's largest car market, we see strong market growth for the industry coming from China," he said.
He said NHF has set up its overseas units in Shanghai and Jakarta this year.
"NHF will continue to aggressively seek new markets. China's car market is growing and we plan to capitalise on this," he said.
Chin said the company would also continue to develop the Asean market.
"As
Asean nations and businesses continue to grow, the company expects the
Asean Free Trade Area will continue to assist by means of easing the
process of trade between member countries," he said.
He said
currently, NHF continued to develop its export market, recording a
continuous growth in export sales compared with previous years.
Chin said the world faced several challenges this year.
"However,
we are positive that 2012 will be a growth year for NHF as we continue
to manufacture car replacement parts for existing motor vehicles on the
road," he said.
He said the company's export division, NJ Manufacturing Industries Sdn Bhd participated in the recent Automechanika Shanghai, the expo for car parts and accessories.
"Automechanika
Shanghai is one of the largest car trade fairs worldwide and it has
provided us with a great platform to showcase our products and boost
relationships with potential customers from all over the world," he
said.
Chin said the company received a better response this year at the fair. - BERNAMA