Nippon Paint Malaysia (Nippon Paint), a leading global paint and coatings manufacturer announces the expansion of its Total Coating & Construction Solutions (TCCS) with the aim to solidify market positioning, in line with its 2023 target.
Nippon Paint Malaysia General Manager, Tay Sze Tuck said that the market outlook for 2023 remains challenging and innovation is at the core of Nippon Paint’s business expansion projection. Under TCCS, Nippon Paint is looking into entering various different markets including oil and gas industry, infrastructure, power and original equipment manufacturer.
“Through our ongoing collaboration and market relations with professional builders, we aim to widen our market standpoint, especially in the affordable housing market through our TCCS initiative.
“Our target is to assist in industrialised building system construction with TCCS which will reduce project costs, increase quality, and shorten the time for building projects,” he said.
Through its coating segment, Nippon Paint has been active in supplying project buildings for affordable housing market under the Projek Perumahan Rakyat (PPR) such as PPR Kiansom, Inanam, Kota Kinabalu Sabah; PPR Kempas Permai, PPR Sri Stulang, Flat Larkin, and Rumah Iskandar Malaysia in Johor Bharu.
“With TCCS in place to better position the capability of Nippon Paint as a one-stop solution, we foresee that Nippon Paint will be able to attain higher market share and increase its revenue by double digits, and solidify our position despite market shocks,” he added.
Besides that, TCCS has also accelerated its initiative in industrial development through industrial flooring solutions as it enters the market for industrial requirements such as food grade and electrostatic discharge flooring that is a requirement by the government for food and beverages plants, semiconductor and other industrial environments.
“As for our paints, through continuous research and development, we have improved our special effect paints with lesser layers, faster application and which will cost lesser than before,” said Tay.
In terms of revenue, Business to Consumer takes the lead by dominating a majority share of it. However, with various initiatives taken especially through TCCS and embarking into new business segments, Nippon Paint aims to increase Business to Business contribution to total revenue moving forward.