LONDON: UK based industrial seals manufacturer AESSEAL plc has selected Malaysia to establish its East Asia regional headquarters, securing a footing to fortify its long-term expansion in the burgeoning Asean region.
The headquarters, a new purpose built factory, is projected to generate RM32mill in revenue for the company this year driven by the strong growth from the AES Singapore branch; PT Asia, Indonesia; Delta Seal Alliance, Thailand; AES VL, Taiwan and Reign-NAN, Philippines.
A specialist in design and manufacturing of industrial seals and support systems, AESSEAL is investing RM11.5mil in capital expenditures for the development of the new facility located in Puchong. The expenditure will be satisfied through internally generated funds.
The regional headquarters will act as AESSEAL’s node for operations and business development in this part of the world.
With a combined population of 660 million people, a young demography, abundant natural resources and impending integration under the Asean Economic Community (AEC), AESSEAL plc, UK and AESSEAL Malaysia believe it is a great time to invest in the region and capitalise on the forthcoming growth.
Asia operation director Koh Choon Siew says the new regional headquarters will be an anchor for AESSEAL plc , UK and AESSEAL Malaysia to strategise long-term business development plans.
