Nippon Paint optimistic of 10 pct sales growth this year

KUALA LUMPUR: Coating solutions provider Nippon Paint Malaysia is optimistic of a 10 per cent growth in sales this year from the RM700 million recorded last year, amidst a challenging market environment.

Group managing director Yaw Seng Heng said the latest product innovations, expanding e-commerce business as well as growing public awareness about coatings are among factors contributing to the growth.

“Nippon Paint currently has a 50 per cent market share within the decorative segment which contributes over 80 per cent of group total sales.

“This segment will continue to be our main focus area in terms of growth for financial year 2018,” he told Bernama.

Nippon Paint, Malaysia’s foremost total coating solutions provider, offers comprehensive coating solutions for multiple segments including architectural, industrial use, automotive, heavy duty and marine.

It also provides comprehensive coating solutions for multiple surfaces, from metal to wood, tiles, cement, slate, glass and even plastic.

Yaw said for the first half of this year, the group performed better than the same period of 2017.

“Wealsoforeseeastrongdoubledigit growth for automotive paint this year after the segment recorded about 50 per cent growth in sales for the year 2017.

“Aside from provision of coatings, we also introduce the right tools for every painter’s needs, from the right brushes and rollers to ensure easy application and convenience,” he added.

He anticipates sales momentum to pick up in the second half of the year as consumers slowly adjust to the zero-rated Goods and Services Tax (GST) and also partly boosted by festive demand. — Bernama