Sinotruk Celebrates Six Years of Growth in Malaysia

Sinotruk Malaysia Sdn Bhd continues to enjoy strong growth since its entry into the Malaysia market six years ago as the first Chinese brand truck.  Sinotruk Malaysia currently holds over 20 percent market share in the heavy truck segment and is the market leader for trucks above 24 tonnes.

In an event held at the Empire Hotel to celebrate its success and achievements with its customers, Steven Foster, Director of Sinotruk Malaysia and CEO of its parent company Ten-League Investment (SEA) Pte Ltd  said, “We have come a long way since we started here in 2007. In the early years, there were many hurdles and challenges. Initial confidence in Chinese brand trucks were low as compared to the European brands but our determination was strong and our track record today speaks for itself”.

Sinotruk Malaysia was formed in 2008 after a restructuring of the assets of Cycle and Carriage Bintang Bhd which saw Foster assume ownership of the company. Now under new ownership,  the company’s staff strength has grown to more than 130, with revenue of close to RM100 million and the company continues to meet new milestones and deliver new products to the market.

Sinotruk Malaysia today has well over 100 different customers and its prime mover continues to be one of its best-sellers. Last year, the company sold 350 trucks and had a sales turnover of RM80 million. Foster explained that Sinotruk’s unique proposition as compared to the European and Japanese brands is its cost advantage while maintaining a high quality.

Initially, Sinotruk Malaysia only offered prime movers, whereby its 6 x 4, 6 x 2 and 4 x 2 HOWOs formed the core product line-up.  The purpose was to first establish the Sinotruk brand through the ability to sell volume and the strategy worked.  For the past two years, the Sinotruk HOWO 4 x 2 and 6 x 2 have been winning awards, which demonstrates the market’s confidence in its trucks. Now, the company has a wide range in the portfolio that includes prime movers, mixers, tippers and dump trucks.

According to Foster, to-date the company is seeing a healthy order book and is close to achieving its sales target of 500 vehicles for 2013. This has led to further dealership appointments across the country to support the growing vehicle park.

“We are looking forward to another great year in 2014 given the encouraging support of our customers and the healthy economy in Malaysia. We are confident that we can be a significant contributor to the trucking industry as it holds a prominent role in supporting the country’s economy with a strong logistics and transportation backbone”, ended Foster.