Banking on China's green car boom
After restructuring Miyoshi, CEO Andrew Sin is exploring opportunities in a growing industry.
Add BT as a preferred source
AFTER a number of bad years - and barely breaking even in the past two years - Miyoshi executive chairman and CEO Andrew Sin is hoping to put the firm's loss-making past behind him.
The precision engineering firm has revamped its board, divested its non-performing subsidiary Giken Sakata, shifted production from Singapore to lower-cost Thailand and the Philippines and is taking steps to diversify its business.
Notably, Miyoshi is trying to tap into China's ongoing electric car boom. It aims to sell light electric cars, a mid-range alternative to cars. It plans to help a potential joint venture partner sell the vehicles, which cost S$6,000 to S$8,000, in the provinces of Henan, Hebei and Shandong. Miyoshi also hopes to use its metal stamping expertise to make the cars from scratch.
TRENDING NOW
Shanda co-founder sells Tanglin Hill bungalow for S$76 million
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Nearly half of Apac’s wealthy expect market crash or correction, plan to rotate to cash: study
Jumbo Seafood to close flagship East Coast Seafood Centre outlet on Sep 30
