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/