Minetech to expand into heavy machinery distribution

KUALA LUMPUR: Minetech Resources Berhad (MRB), one of the largest listed players in the quarry mining industry, today announced that it plans to venture into the distribution of heavy machineries.

To this end, MRB has established a new unit, Minetech Heavy Machineries Sdn Bhd, which will be responsible for this heavy equipment business.

MRB expressed confidence in the new venture because it said the construction equipment market alone in Malaysia is estimated to be worth almost RM1.46bil (US$470mil) by 2015.

“In addition, this industry is also highly supported and boosted by Government initiatives such as the Third Industrial Master Plan (IMP3, 2006-2020)," said group executive officer Chin Leong Choy.
The IMP3, he elaborated, aimed to position Malaysia as the regional production hub for high technology and specialised machinery and equipment (M&E), the main distribution centre in the region for all types of M&E, and the centre for maintenance-related services for high technology and specialised M&E.
“With such a promising market, we are eyeing the opportunities as it is also in line with our company’s goal to grow our source of income from other streams. To kick-start, MRB will first distribute a line of products for the mining industry. We also get to purchase the equipment for our own use at dealer's price, thereby improving our profit margins,” Chin continued

http://www.thestar.com.my/Business/Business-News/2014/03/05/Minetech-to-expand-into-heavy-machinery-distribution/