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Solid Automotive Berhad
by Solid Automotive Berhad2393 views @ 29-Sep-2017
The specialist in autoparts.
Solid was incorporated in Malaysia under the Act as a public limited company on 12 September 2013 under the name Solid Automotive Berhad to facilitate our listing on the Main Market of Bursa Securities.
Our Company’s authorised share capital is RM100,000,000 comprising 200,000,000 ordinary shares of RM0.50 each, of which 114,616,000 ordinary shares of RM0.50 each has been issued and fully paid-up.
Our Group’s history can be traced back to 1982, when our MD, Ker Min Choo together with our Executive Director, Ker Mong Keng, and their brother, Ker Boon Kee, jointly established Solid Corporation in Johor Bahru, Johor. Solid Corporation was established to undertake the trading of automotive electrical parts and components in Malaysia.
They subsequently acquired the equity interest in Uni Point (formerly known as Pam Industries Sdn Bhd) in 1986 to undertake the wholesaling of various aftermarket third party branded automotive electrical parts and components in Johor.
In 1990, we started to pursue the OBM business model to generate further business growth. Under this business model, a business entity typically outsources the manufacturing process to third party producers and concentrates on brand promotion as well as sales and marketing activities. This business strategy enabled our Group to move up the value chain and to obtain a higher profit margin. Our Group had in the same year started selling our in-house branded automotive electrical parts and components under our Group’s brand namely Hansa Parts.
In 1991, we acquired a dormant company in Singapore named Auto Empire. Auto Empire commenced its business in 1992 in the import and export of third party branded automotive, engine and mechanical parts and components.
In 1994, our wholly-owned subsidiary, Twinco, was incorporated to take over the trading business of third party branded automotive engine and mechanical parts and components from Europe for the commercial vehicle segment from Tampoi Auto Supply Sdn Bhd, a related party which has since changed its principal activity to owning and managing properties for rental and investment holding company.
In 1998, we obtained a distributorship of Unipoint branded automotive electrical parts and components in Malaysia. The principal activity of Uni Point was then changed to the selling and distribution of Unipoint branded automotive electrical parts and components.
In 2003, we expanded our business upstream by setting up JBS. JBS was incorporated to focus on the business of remanufacturing of alternators and starters for passenger vehicle segment, under (i.e. KIS) brand.
Solid Corporation continued with its expansion over the years with the setting up of thirteen (13) sales branches in various regions across Malaysia. Our first local sales branch was established in Kuala Lumpur in 1993. The subsequent branches were established in Perak (in 1997), Sabah (in 1998), Pahang and Melaka (in 2009) as well as Penang and Selangor (in 2011).
Besides the local market, our Group has also managed to penetrate into over 30 countries such as Saudi Arabia, UAE, Libya, Ecuador, Indonesia, Syria, Yemen, Thailand, Sri Lanka and Sudan.
In 2012, we registered another milestone in our Group’s history by signing a Trademark Licence Agreement with Lucas Industries Limited (“Lucas Ltd”) which grants our Group the exclusive use but not the ownership of the Lucas trademark on our automotive electrical parts and components for Malaysia and designated countries in Asia such as Singapore, Indonesia, Vietnam, Brunei and Cambodia. Lucas is a well known brand which was established in 1872 in the UK. The Lucas product range covers, amongst others, automotive bulbs, batteries, wiper blades, starters and alternators. This will help to enhance our reputation and image in the automotive aftermarket. Our automotive electrical parts and components manufactured by our contract manufacturers will be marketed under the Lucas brand, i.e. third party brand, and will be promoted in the designated countries in Asia.
In February 2013, our Group commenced sales of automotive electrical parts and components under the Lucas brand which were manufactured by our contract manufacturers.
We carry 18 in-house brands, over 100 third party brands and more than 7,000 SKU items.
