Sinotruk celebrates six years of growth
The first Chinese truck manufacturer to operate in Malaysia, Sinotruk Malaysia Sdn Bhd has entered its seventh year in Malaysia since its establishment in 2007, and it announced that the company continues to enjoy strong growth since its entry into our market.
Sinotruk Malaysia currently holds over 20 percent market share in the heavy truck segment and is the market leader for trucks above 24 tonnes.
Steven Foster, the director of Sinotruk Malaysia and CEO of its parent company Ten-League Investment (SEA) Pte Ltd said, “We have come a long way since we started here in 2007. In the early years, there were many hurdles and challenges. Initial confidence in Chinese brand trucks were low as compared to the European brands but our determination was strong and our track record today speaks for itself”.
Sinotruk Malaysia was formed in 2008 after a restructuring of the assets of Cycle and Carriage Bintang Bhd which saw Foster assume ownership of the company. Now under new ownership, the company’s staff strength has grown to more than 130, with revenue of close to RM100 million and the company continues to meet new milestones and deliver new products to the market.
With over 100 customers, the company sold 350 last year trucks and earned an estimated RM80 million. Foster explained that Sinotruk’s unique proposition as compared to the European and Japanese brands is its cost advantage while maintaining a high quality.
“From day one, our focus was on ensuring that our customers can reduce their operating costs, making them more competitive in their markets and hence improving their businesses. As a supplier, our job is to help our customers grow” Foster explained. “Having our sister company, Asia Automotive Industries (AAI) to assemble Sinotruk allows us to focus on quality and to keep bringing costs down.”
Initially, Sinotruk Malaysia only offered prime movers, whereby its 6 x 4, 6 x 2 and 4 x 2 HOWOs formed the core product line-up. Now, the company has a wide range in the portfolio that includes prime movers, mixers, tippers and dump trucks.
According to Foster, to-date the company is seeing a healthy order book and has achieved its sales target of 500 vehicles for 2013.
“We are looking forward to another great year in 2014 given the encouraging support of our customers and the healthy economy in Malaysia. We are confident that we can be a significant contributor to the trucking industry as it holds a prominent role in supporting the country’s economy with a strong logistics and transportation backbone”, ended Foster.