DELLOYD Ventures Bhd, which is involved in original equipment manufacturing (OEM), sees challenging times for its two core businesses, namely automotive and plantation.
“We think that the market going forward will be very challenging,” its deputy group managing director Datuk Leon Tee Wee Leng told reporters after the group’s EGM yesterday.
“In fact, if we look at the market right now and also looking into our past (financial) results, for the last couple of years, the performance has been on the drop,” The Sun quaoted him as saying.
He said the company’s automotive business, which supplied parts and components for manufacture of the national cars and locally assembled cars, was facing risks due to the rising popularity of imported cars.
Its subsidiary Delloyd Industries (M) Sdn Bhd made parts and accessories such as door mirrors, central locks and alarms, power window regulator systems, wheel covers, car radio antennas and door modules.
“If you look at the conditions right now, we have more imported cars in Malaysia. Therefore, the growth of cars being built in Malaysia is less now compared to previous year,” said Leon.