Page 11 - Retrading Business N101 2022-02
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Although Tai admits that the last few years have been something of a challenge, mainly to secure banking facilities, he now says that exceptional support from both shareholders and customers has enabled the company to slowly turn the business around. “Our sha- reholders have supported us by providing us with capital injections to help cover our debts, but our customers, many of whom have been working with us for years, have also been very supportive on payments as well as continuing to produce good quality products. We have been very fortunate in this regard.
“Of course, the pandemic has not helped, and in addition to industry-wide supply chain issues, we were forced to close ope- rations intermittently and at times had to operate at half capacity. But these were unavoidable, and we have been working with various agencies to get back to full operation.”
FOCUS ON DOMESTIC MARKET
regain its local and regional customers and so is currently focusing on re-establishing itself in the domestic Malaysian market as well as in Asia for the time being, although the company will not ignore any suitable opportunities globally. “Of course, we are constantly on the lookout for good partners to develop the local market,” he added.
GIIB’s headquarters in Nilai, Malaysia
A key aspect of this strategy will be to work with existing suppliers to help develop ne- xt-generation compounds for the retreading market, not only in terms of performance, for retreaders.
Although the current priority for GIIb is to get the business back into shape, Tai did point out potential future opportunities in the retreading of tyres for the construction sector as well as the intention to work with the Point S network, which currently focu- ses on car tyres, to see whether there is any scope for developing potential in the truck sector.
“Akeyaimforusisthatwewanttobeseen as a preferred provider to the independent retreading sector,” he said. “There is big role to play and plenty of growth opportunities in this area. We want to promote good per- formance and safe retreads and to bring their businesses,” he concluded.
“We want to promote good performance and safe retreads and to bring retreaders to fleets in order to help support their businesses.”
Inside the GIIB tread rubber plant
COMPANY
Report
“We want to be seen as a preferred provider to the independent retreading sector”
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