Datuk Jacob Dungau Sagan (left) and Datuk Tan Chin Huat
at the launch of the 15th MIFF at PWTC in Kuala Lumpur.

 

 

KUALA LUMPUR: Furniture players are urged to focus on the upper middle class segment while penetrating new markets. Deputy International Trade and Industry Minister Datuk Jacob Dungau Sagan urged furniture players to tap this group of consumers who were willing to pay higher prices for quality furniture. He expected the furniture sector, which saw significant growth in trade in 2008, to remain a major contributor to the country’s export earnings in years to come.

  
Malaysia’s furniture industry recorded an increase of 1.7% in total trade to RM8.37bil in the first 10 months of 2008. Exports accounted for RM7.17bil and imports RM1.19bil during the period.

 

The US was the main export market with a value of RM1.87bil followed by Japan (RM587.3mil), Australia (RM518.2mil), Britain (RM445.2mil) and Singapore (RM459.3mil).“Malaysian furniture has also captured new markets namely Algeria, Greece, Puerto Rico and Libya. India is also a very big potential market for the furniture players,” Jacob said, adding that continuous efforts were needed so that these players can venture into new markets.

 

“The Government will also organise various promotional programmes through the Malaysian Trade Development Corp to raise the profile of Malaysian brands overseas,” he said yesterday at the opening ceremony of the 15th Malaysia International Furniture Fair (MIFF) 2009, an annual international furniture exhibition organised by MIFF Sdn Bhd. MIFF chairman and managing director Datuk Tan Chin Huat expects sales at the fair to surpass or at least match last year’s sales of US$690mil.

 

“Over 450 Malaysian and international exhibitors are showcasing their products. We are expecting more than 7,000 international buyers from over 130 countries to visit the fair,” he said. To a question, Tan said the industry would remain strong in the first quarter of 2009 but the coming quarters could be quite volatile.

 

He said while other international fairs had reduced in size, MIFF still maintained its size and even occupied two venues simultaneously. MIFF 2009 ends on Saturday.

 

Article Courtesy of www.thestar.com.my
Wednesday March 4, 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lucky win: (Third from left) Phum and (fourth from left) Jerry Kok celebrating their awards with Yong (second from right) and MIFF managing director Datuk Tan Chin Huat.

 

 

A 30-year-old advertising executive won big at this year’s MIECO Designer’s Choice Awards (MDCA) which concluded recently.

 

Jerry Kok, a film and animation graduate from Kuala Kangsar, walked away from the furniture design competition with three awards, the grand prize for the home furniture category as well as the third prize for the kitchen and office categories.“I feel very happy indeed although I had my ups and downs,” said Kok, who will pocket a cool RM16,000 for his efforts. Jerry’s design for the home category was a multi-functional piece named Hutan that can be used as a coat-hanger, a bench and table just to name a few. Meanwhile, 21-year-old Phum Boon Eng from KBU International College beat 91 other participants to win RM5,000 in the form of a scholarship in the students’ category.

 

The MDCA 2009, which was jointly organized by MIECO Sdn Bhd and MIFF Sdn Bhd in conjunction with the Malaysian International Furniture Fair 2009 (MIFF 2009), drew 124 contestants. “It is our aim to promote local creative talents not just in Malaysia but also at international level,” MIECO Chipboard Bhd managing director Datuk Yong Seng Yeow said.

 

Article Courtersy of www.thestar.com.my

 

 

  

 

 

 

 

 

 

 

 

 

 

 

Datuk Tan Chin Huat

   

MALAYSIA’S furniture exports are expected to be resilient and on track to hit the RM10bil sales mark in 2010 due to the penetration of new markets by local manufacturers, according to MIFF Sdn Bhd chairman and managing director Datuk Tan Chin Huat. “Should local manufacturers be able to adapt to the changing economy of the world and keep improving their product quality and designs to tap more new markets, I do not see any problem in achieving the RM10bil sales figure,” Tan told StarBiz in an interview.

 

Tan said although furniture exports to the US had shown a slowdown last year, the overall furniture exports still achieved an estimated growth of about 2% to RM8.8bil. He said there were still a number of untapped markets in the world.

 

MIFF Sdn Bhd is the organiser of the Malaysian International Furniture Fair (MIFF), an annual international furniture exhibition that has attracted buyers from 137 countries. “Media reports have been too negative about the world economy lately, but the actual situation in the furniture industry is not really that bad,” he said.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Based on the participation level and feedback to the MIFF 2009 to be held from March 3 to 7, Tan is confident this year’s exports will continue to grow. In 2007, total furniture exports recorded about 4.8% growth to RM8.5bil from RM8.1bil in 2006. Tan sees potential markets in eastern Europe, China and India, along with CIS (Commonwealth of Independent States) countries like Azerbaijan, Armenia, Belarus, Georgia and Kazakhstan.  Current market trends had changed, with more and more retailers buying products directly from manufacturers instead of from third parties like a decade ago, he pointed out.

 

“It is a good sign. If manufacturers are not only selling bulk of products to a particular importer, they need not worry about decline in demand or that trading company closing down when recession comes,” he said. To date, about 11,000 overseas visitors have registered with MIFF 2009.

 

MIFF 2009 is targeting sales of US$700mil compared with US$690mil last year

 

 

Article Courtersy of www.thestar.com.my