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Transforming Network Infrastructure Industry News

[August 31, 2006]

GC Gruppe opens store in Malaysia

(Business Times (Malaysia) Via Thomson Dialog NewsEdge) GC GRUPPE of Germany, one of the world's biggest designer bathroom products wholesalers, has opened a store in Malaysia, the first in Asia.

Malaysia is chosen due to it being an emerging market, its young population and the rapid development of its property sector, said GC Gruppe managing director Andrew Wegemeyer.

"Malaysia is a good place for us to stay for now. We are interested in opening more stores in other Asian countries but it takes time to look for good local partners," he told Business Times in Kelana Jaya recently.

In Malaysia, its local partner is Andrew Sia and his son Adrian who collectively hold a 20 per cent stake in the joint venture GC Building Technologies (M) Sdn Bhd. The remaining stake is held by GC Gruppe.

Sia said there are plans to open more stores in Malaysia in the next two to three years.

"We are planning four more, and depending on the location and size, each store would most likely require an investment of RM5 million each," he said.

He said the bathroom products from GC Gruppe are meant for the medium to upmarket consumers. Currently, Sunrise Bhd, the developer of the upmarket residential area Mont Kiara, is one of its major clients.

The other clients include Bolton group, Hilton Hotel, Westin Hotel, Crowne Plaza and Mandarin Oriental. These contracts are worth some RM15 million.

Sia said for next year, he hoped GC Building would clinch some RM80 million worth of contracts.

"It is hard to really put a figure on this but we are definitely on the way (to do more contracts)," he said.

Sia has been in the building industry for some 40 years and for the past 12 years, he has been in the designer bathroom business.

"In Mr Sia we found a local partner who knows the Malaysian market well and we are upbeat of our prospects here," said GC Building Technologies GmbH managing director Markus Muhr.

The Malaysian store will carry renowned German bathroom and kitchen brands namely Villeroy & Boch, Dornbracht, Hoesch, Alape, Czech & Speake, Zeyko, Studio Becker, Viega and Bette of the private labels of GC Gruppe.

Copyright 2006 The New Straits Times Press (Malaysia) Berhad. Source: Financial Times Information Limited - Asia Intelligence Wire

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