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Copyright 2018 Pertubuhan Berita Nasional Malaysia
All Rights Reserved

Malaysia Economic News
March 11, 2018 Sunday
535 words
SEOUL March 11 

South Korea's home appliance maker, Cuckoo Electronics Co Ltd, plans to build a RM100 million factory in Malaysia to produce water purifier products.

The expansion of its manufacturing to Port Klang, Selangor will bridge the demand gap due to the rapid growth in Southeast Asia with its huge potential market apart from trimming its transportation cost.

Speaking to reporters at Cuckoo 40th Anniversary celebration from March 4-10, 2018 here, its Chief Executive Officer, Brian Koo Bon Hak, said: "We're checking out properties and carrying out a feasibility study."

Moving forward, he said, the company, which ranked No 1 for rice cooker in South Korea, might build two other factories in Indonesia and India to meet the increasing demand.

Currently, it has two plants located in Yangsan and Siheung, South Korea with total production capacity of over 4.5 million sets annually.

Cuckoo Electronics€™ main products include multi-functional electric pressure cooker, electric rice cooker, water purifier, air treatment, induction range and cook ware.

Meanwhile, Koo said, the company aimed to rake in US$1.5 billion (US$1 = RM3.91) in sales this year from US$760 million last year, by offering more product portfolios and actively entering Vietnam, India and Indonesia, in pursuit of new customers.

"We€™re adding a lot of products line-up like not only rice cooker and water purifier but also some blender, highly induction range, health care and pet care.

€œWe€™ve taken steps in expanding from one geographic market to another. We have started Malaysia€™s business two to three years ago and have started Brunei and Singapore last year.

€œWe are targeting Indonesia, hopefully Vietnam and India too. And, we€™re also thinking of exploring US and China market too," he said.

Cuckoo Electronics, to promote its brand, has announced that South Korean actor, singer and host, Lee Seung-gi, has signed on to become its new global ambassador for all its products.

These include its mild-alkaline water purifiers, multi-cookers and air purifiers.

Lee, most notable for his leading role in the hit Korean TV series €œA Korean€ will appear in the company€™s advertising campaigns in South Korea, Malaysia, Brunei, Singapore and Indonesia.

For its Southeast Asian business, Cuckoo International (Malaysia) Sdn Bhd Chief Executive Officer, Hoe Kian Choon, said he was confident to achieve sales target of RM500 million for 2018 from RM208 million last year.

The company will add its Brandstore and Brandkiosk to 600 from only 330 last year and continuously offer the best quality service to customers.

Several new water and air purifiers as well as induction cooker will also be introduced in the next few months, he said, adding that, a mobile application for customers to make appointment for their products€™ regular maintenance service would be launched soon.

On its new factory in Malaysia, Hoe said, the construction of the factory at a minimum cost of RM100 million would provide jobs to Malaysians and strengthen its business operation.

"This factory is very meaningful for Cuckoo€™s business. We not only want to provide business opportunities for Malaysians but we also want to contribute back to the people of Malaysia," he said.
March 12, 2018
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