China Ceramics Announces Progress in its Plans to Enter the Malaysian Market
Jinjiang, China -- China Ceramics Co., Ltd. announced that the company has entered into a non-binding letter of intent with a Malaysian contractor for the company's ceramic tile, including its new 'cooling' ceramic tile that was introduced in August 2019. The Malaysian contractor intends to use the company's ceramic tile products for high rise apartment buildings in the third quarter of 2020.
"This is an important step to increasing our exports to Southeast Asia due to the rapid rise in construction in the region and its climate conditions which make it an ideal fit for many of our ceramic tile products," said Huang, CEO of China Ceramics. "Provided that the market demand and related conditions are in place, we plan upon substantially increasing our exports to this region. China Ceramics continues to deploy innovation and competitive pricing to secure new business. We believe that our new products will help us to enter new markets and ultimately diversify our revenue stream while contributing to our future growth."
The company's anticipated entry into Malaysia is the first step of an expansion effort into Southeast Asia that is intended to capitalize on the increased level of new building construction in the region, which is due in part to China's Belt and Road Initiative. The company foresees this as an opportunity to utilize its currently unused production capacity as it enters a dynamic regional market with an estimated population of 660 million people.
The company plans to introduce specialized products into the Southeast Asia market that are suitable for the region due its generally warm climate, including the company's recently announced 'cooling' ceramic tile. This building product is a new type of exterior ceramic tile designed to cool indoor temperatures of buildings. The new cooling ceramic tile series is designed as a stone pattern with a look of natural décor and luxury with richer patterns than organic stone materials. The company is in the final stages of testing the new product and receiving its certification.
For more information, visit www.cceramics.com.