Hafary poised to become a key player in Southeast Asia’s ceramic industry – JV to add manufacturing capabilities to its portfolio
Singapore, Dec 16, 2022 - (ACN Newswire via SEAPRWire.com) - Hafary Holdings Limited ("Hafary" or the "Group"), the leading distributor of premium ceramic tiles in Singapore has expanded its operations by gaining manufacturing capabilities through the incorporation of a new Joint Venture ("JV") Company, International Ceramics Manufacturing Hub Sdn Bhd ("ICMHSB"). The JV will enable the Group to move upstream and overcome supply chain constraints as well as leverage on majority shareholder Hap Seng Consolidated Berhad's ("Hap Seng") MML brand and its distribution networks to grow sales in Malaysia and the regional export market.Since 2015, the strong union between the two companies, Hafary and Hap Seng, have provided a steadfast supply of ceramic tiles to the building material industry in the region. 2023 will see Hap Seng and Hafary move to the next level of their integration, with the ceramic manufacturing and distribution business divisions within the Hap Seng Group consolidated under the umbrella of Hafary, arguably one of the most competent players in this industry. The strong synergies are bound to solidify their leadership position in the ceramics industry going forward. Stre...
