Wednesday, 4 January 2017
PETALING JAYA: Wah Seong Corp Bhd is teaming up with China Lesso Group Holdings Ltd to set up a joint-venture (JV) company to secure quality building materials, architectural products and home furnishing goods primarily from China.
In a statement, the energy infrastructure group said its indirect unit, Syn Tai Hung Trading Sdn Bhd (STHT), had signed a shareholder’s agreement with Lesso Home Service Holdings Ltd (LHSH), which is an indirect unit of China Lesso Group.
The JV company, Lesso Home Syn Tai Hung Sdn Bhd, will operate an integrated sale and service centre to secure the materials and products primarily from China and facilitated by the Lesso Home e-commerce platform.
“Taking cue from the Government’s move to increase and strengthen bilateral business and economic relationship with China, this JV with China Lesso is timely,” Wah Seong group CEO/managing director Chan Cheu Leong said.
The JV would leverage on the strength of both companies and would see greater economies-of-scale and cross sharing of skills and technology which would enable the group to introduce quality products at competitive pricing and provide good after-sales support to the market.
Syn Tai Hung was a leading distributor of building materials in Malaysia with an extensive network of offices and distribution centres throughout the country.
With more than 50 years of track record in the industry, the company provides customers with a comprehensive range of quality products and services, Chan said.
The JV was expected to contribute positively to the group in the future.
Source by: Internet