I have commented on Mitsubishi of Malaysia, Samsung of Malaysia, SK Telecom of Malaysia, Acer of Malaysia , Wipro of Malaysia , Tata Infotech of Malaysia , Kimberley-Clark of Malaysia. Now it 's time to consider: which company is the likely Hyundai of Malaysia?
Base on Hyundai industrial cycle. Hyundai have started from a transport company, a motor vehicle workshop and then Construction, then shipbuilding, then automobile summary as follow:
Construction----->Shipbuilding------>Automobile
South Korea company able to transform a construction engineering company into a shipbuilding company. From knowledge gain from shipbuilding, they able to build car! A Korea's national car!
The only public listed company that fulfill the above industrial cycle is Muhibbah engineering (M) Bhd.
Source said that Muhibbah Engineering (M) Bhd was founded by previous founder and management of Nam Fatt Corporation Berhad. Thus, was not new to engineering and construction industry. The company venture into crane industry via Favelle Favco Berhad The company is in the process of listing Favelle Favco Berhad to Bursa Malaysia at the moment.
The company venture into shipbuilding industry via Muhibbah Marine Engineering (Deutschland) GmbH. Thus, Muhibbah industrial cycle is most similar to Hyundai:
Construction-------> Shipbuilding------->?
Hyundai has operate a car workshop at the initial stage to gain knowledge in automobile industry. This look like Boon Siew of Oriental at the beginning. Boon Siew start to work in a transport company to gain engineering knowledge before he get Honda franchise in Malaysia. However, Boon Siew and Oriental never venture into construction indsutry after that.
Muhibbah start from a construction company, then diversified to shipbuiding, despite not similar to Boon Siew of Oriental and Hyundai. Muhibbah has experience in crane industrial via Favelle Favco Berhad. They have an airline support industry as well. Thus, Muhibbah Engineering definately has technical capability to venture into automobile industry in future, this make Muhibbah a mini Hyundai in Malaysia.
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