“However, the ambitious expansion plans will be anchored in building a strong regional base in Kuala Lumpur first.”
Feilo Sylvania’s initial investment when it set up the Kuala Lumpur office was US$10 million — and more is coming.
“At the moment, our investment in the Malaysian set-up has been utilised for the formation of a Southeast Asia hub, which will help establish our business focus and initiatives in the region,” the company says.
“We will continue to invest as we believe in laying strong foundations to create more value and profitable growth for years to come.”
And despite being a relatively small starting base, it is already shifting into high gear to accelerate its growth. The company is also working closely with local distributor and suppliers such as Pansar Company Sdn Bhd, Stardex Lighting Sdn Bhd and HMG Holdings Sdn Bhd.
“In the last financial year, our revenue was RM23 million and net profit about 8%. We are targeting 20% growth in revenue over the next five years and since we are a new face in the Malaysian market, we believe we can achieve it by acquiring bigger market share,” Swee Aun says.
“Given its strategic location, steady economic growth, presence of major players in shipping and logistics, good regional linkages and strong transport infrastructure, Greater KL has the right endowments to position itself as a regional logistics gateway,” Swee Aun states.
“We will also be able to tap into its growing domestic market and diverse talent pool to expand our services in Malaysia, which is a regional hub for business growth and development in Southeast Asia,” Swee Aun adds.
Indeed, from the get-go, the company was excited about Kuala Lumpur’s potential to transform into one of the world’s top cities. That, in turn, offers interesting prospects for businesses seeking a foothold in Asia.
“There is great potential to grow in this regional hub as there is a large pool of talents who are well educated, a ready workforce and ease of doing business and connectivity due to the support of government agencies such as InvestKL,” Swee Aun says.
“In fact, the rapid construction of infrastructure in this region is one of the key advantages to our nature of business.”
Kuala Lumpur’s liveability was equally important to the company as there are facilities and amenities available in the city that cater for expatriates and world-class events.
Feilo Sylvania was also impressed by Malaysia’s tax system and certification process. While it did run into hurdles to understand and navigate the policy and regulation aspects in the beginning, InvestKL’s consultation and expertise helped tremendously, Swee Aun points out.
In addition, the nation’s open policy for foreign businesses created an opportunity for Feilo Sylvania to invest here, giving it a regional foothold and gateway to the rest of the region.
“We believe Feilo Sylvania will greatly benefit from Malaysia’s open policy to foreign businesses, strategic location with robust infrastructure, competitive tax rates, flourishing domestic market and diverse talent pool,” concludes Swee Aun.