Friday 29 Mar 2024
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KUALA LUMPUR (June 30): Ready-to-assemble (RTA) furniture products designer and manufacturer Spring Art Holdings Bhd said it expects the surge in online shopping to boost its financial performance.

In a statement yesterday in conjunction with its online annual general meeting, Spring Art said the Movement Control Order amid the Covid-19 pandemic saw an increase in online shopping for products including RTA furniture products and this trend is expected to continue worldwide.

Spring Art said it has a niche as its RTA furniture are packed in a flat-pack format, easy to transport and assemble by customers.

Its customers comprise distributors, furniture showroom retailers, home furnishing chain stores and also e-commerce companies.

Spring Art said the global spread of Covid-19 has led to a rapid shift of companies moving to working from home, in an effort to maintain business continuity.

Spring Art managing director Jack Lim Kok Eng said the company remains optimistic about the company's prospects and has seen a surge in demand for small home office furniture in online shopping amid the Covid-19 pandemic.

"The outbreak of Covid-19 might have brought the negative impact in the short term but it brings positive impact in the long term to the company. Our customers include e-commerce companies in foreign markets who resell our RTA furniture products to consumers through their respective platforms," he added.

Lim said Spring Art will continue to expand its market coverage and product range, but as the danger from the Covid-19 pandemic is still not over, the company has to remain vigilant and responsive to market changes.

Spring Art is looking to further increase its presence in North America and European markets where there is growing demand for Malaysian furniture due to the US-China trade war. It aims to expand its product range by releasing four new collections annually, with a focus on living room furniture and bedroom furniture every year, to appeal to changing consumer preferences.

"With our design and development capabilities, we believe that our variety of choice in products will contribute to increase sales for Spring Art," Lim said.

As at 9.24am, Spring Art was unchanged at 17 sen with a market capitalisation of RM70.67 million. 

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