New Hoong Fatt Group (NHF Group), an automotive parts and services company from Malaysia plans to build a plant in Indonesia. Chief Financial Officer, Chong Choon Yeng said the Indonesian automotive market is a gold mine waiting to be tapped, despite the company already exporting its products to more than 60 countries worldwide.
“With close to 300 million people living there, the population in Indonesia is almost 10 times the Malaysian population. But new vehicle registration in Indonesia is only around one million units per year, compared to Malaysia’s 600,000 units per year," he said as quoted by www.astroawani.com.
According to it's website, NHF Group has been providing automotive parts to the local replacement market since 1977. The Group had in 1989 ventured into manufacturing of metal and plastic automotive body replacement parts, such as door, hood, fender, trunk lid, bumper, grille and lamps. The group also produce oil and lubricant with brand namely Kendall.
NHF is operating from its headquarters in Meru, Klang, trading branches in Segambut, Kuala Lumpur and Kota Kinabalu, Sabah, as well as in its wholly-owned subsidiaries in China and Indonesia with a approximately of 1000 staff. In 2016, NHF Group recorded total asset RM 453.33 billion with RM 231.89 billion of revenue.
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