KUALA LUMPUR (September 25): GPA Holdings Bhd, automotive batteries manufacturer which is 23.26% owned by Tan Sri Robert Tan Hua Choon, hopes to return to the black in its financial year ending March 31, 2015 (FY15), after making losses in the past three financial years.
Eddie Tan Han Chuan, chairman of GPA, said that this will be spurred by focusing on the group’s non-automotive segment, which provides better margins, and also strengthening its foothold in foreign markets.
“I think there are pockets of markets in India and also in the Middle East which gives better margin for specific stock keeping units. We are also developing new products to warrant better margins,” Tan said.
David Lai, executive director of GPA, said that the group has allocated a sum for capital expenditure (capex) to automate its production line – which would serve to reduce costs – and it will be completed within the current financial year.
Lai declined to mention on the amount of capex, but stated that it ranged in “a few million” ringgit.