KUALA LUMPUR: Nippon Paint (M) Group aims to grow its revenue to RM1 billion by end-2017 from RM650 million in 2014, said Group Managing Director Yaw Seng Heng.
He said the target is achievable, driven by a three-pronged strategy of expansion into new markets, growing the distribution network and rolling out new coating innovations this year.
“We began as ‘The Paint Expert’ and now we are embarking on the next stage which is to be ‘The Coatings Expert’ to meet diverse industry needs.
“Coatings are now a more functional and sustainable replacement for some existing building materials in use, and we aim to introduce at least four new coating innovations for all types of surfaces such as cement, wood and glass,” he said.
Yaw added Nippon Paint will now serve the architectural, automotive and industrial segments for its coating solutions.
Meanwhile Nippon Paint General Manager Goh Kaye Jen said the group has outlined a 50 per cent market share growth plan in Malaysia, and plans to increase the market share of its colour tinting machines from 50 per cent to 70 per cent over the next three years.
She said despite the challenging economic outlook and the Goods and Services Tax (GST) implementation, the company is confident of building on its market leadership position in the coatings industry for 2015.
“There are many sentiments about the GST, but as a business, we are concerned about their worries, that is why we have come out with innovative, cost-effective coating solutions,” she said. – Bernama