SECTION [E]: PROSPECT OF AUTOMOBILE COMPONENTS AND PARTS MANUFACTURERS/cont'd

Part 2: Companies featured in i Capital before

[1]. APM Automotive Holdings (APM, 5015)

Principal activities: Manufacturing automotive parts and components.
Major shareholders: Parasand Ltd, Tan Chong Consolidated S/B, EPF.

Table 29: YE: 31 Dec

APM Automotive Holdings (APM) is a Tier-1 vendor that manufactures [a]. Suspensions & absorbers (ie coil springs, leaf springs, parabolic springs), [b]. Electrical & heat exchange components (ie electrical parts, air-conditioners, radiators), and [c]. Interior & plastic parts for vehicles (ie seats, moulded door panels). Each product segment contributes the same proportion to the group's sales. 74% of sales are derived from the local original equipment market, 11% from local replacement equipment market and 9% from exports. Perodua is the largest customer of the group, representing 33% of APM's sales, followed by Proton (14%) and Nissan (11%). Other clients include Toyota, Honda, Ford, Hyundai, Daihatsu, etc.

The group's overseas operations include a joint venture in both Indonesia and China manufacturing automobile seats related products and a subsidiary in Vietnam manufacturing automobile leaf springs.

[2] Delloyd Ventures (DELLOYD, 6505)

Principal activities: Manufacturing automotive parts and components, dealer of automobiles, etc.
Major shareholders: Chung & Tee Ventures S/B.

Table 30: YE: 31 Dec

Delloyd Ventures (Delloyd) produces power window modules (for Proton, Toyota, Daihatsu, Hyundai), bumpers (Proton), door mirrors (Proton, Perodua, Toyota, Honda), door modules (Proton, Hyundai), antennae, wiper motors and security alarm systems. Sales to Proton and Perodua respectively represent 55% and 15% of the group's automobile parts and components sales. Delloyd also has automobile parts and components manufacturing presence in Indonesia. In total, the automobile parts and components division contributes 79% of Delloyd's sales and 97% of operating profits.

The other businesses of the group are retailing of Hyundai motor vehicles (except for Ascent, Sonata and Elantra) and cultivation of oil palm. The automobile retailing business has been in the red. As for the group's profitable oil-palm cultivation business, the division currently owns 1,440 hectares of estate and is currently in the process of acquiring a company in Indonesia that owns 14,000 hectares of oil palm estates.

[3]. Hirotako Holdings (HIRO, 9644)

Principal activities: Manufacturing of safety restrains systems, etc.
Major shareholders: Hiro-Dapat Holdings S/B, Chelverton Dividend and Income Fund Ltd.

Table 31: YE: 31 Dec

The group specialises in producing safety restrain systems (ie seat belts, airbags and steering wheels), acoustic, thermal and composite materials (ie noise dampers, inner dash insulators), and metal forming. Group's main clients include Toyota, Honda, Proton, Denso, Sanden, etc.

[4]. Ingress Corporation (INGRESS, 7112)

Principal activities: Manufacturing of automotive parts and components, etc.
Major shareholders: Ramdawi S/B, Rameli bin Musa, EPF.

Table 32 : YE: 31 Dec

TIngress has interest in [a]. Making automobile parts and components (sales of RM241 mln and pretax profit of RM19 mln in 2006), [b]. Power electrification (sales of RM30 mln and pretax profit of RM0.3 mln), and [c]. Oil tank cleaning operations in Indonesia (sales of RM18 mln and pretax loss of RM4.5 mln).

Ingress manufactures automobile sealing systems (ie windshield moulding, wheatherstrip moulding), door modules (ie door sash, glass guide, door-in-white), heat management parts (ie exhaust, bellow), under body modules (apron, rear floor side) and impact system (ie impact beam). Ingress' operations in Thailand contribute the bulk of its automobile component manufacturing's pretax profit (RM10.5 mln). Locally, Perodua is the group's main client, representing 42% of the group's automotive parts and components sales, followed by Proton (14%). In Thailand, main clients include Honda (15%), Isuzu and General Motors (collectively 10%), Mitsubishi and Toyota.

The group recently has been awarded the dealership for sales and after-sales services for BMW motor vehicles. The showroom is to be located along LDP highway. Investment needed for this venture is RM21.7 mln.