WHETHER Focus Dynamics Group Bhd is ‘ditching’ its plan to diversify into the rubber glove industry is a one million dollar question, although such action can be quite understandable given the industry’s ailing prospect judging from recent share price performance of the Big Four glove makers.
This comes to light as Focus Dynamics through its wholly owned subsidiary Focus Dynamics Centre Sdn Bhd inked a collaboration-cum-tenancy agreement yesterday (Nov 9) with Cergaz Autohaus Sdn Bhd, a wholly owned subsidiary of Permaju Industries Bhd, to open a state-of-the-art digital retail concept electric vehicle (EV) showroom at The Arch, Kuala Lumpur.
The recently unveiled Budget 2022 has obviously created the notion that an EV venture can be both timely and lucrative, hence sparking hopes among industry players to accelerate the introduction of more luxury and premium EV motor vehicles while promoting free carbon emission and green friendly environment.
“We are astonished by the vibrant EV business of Tesla and Elon Musk,” Permaju’s executive director Tang Boon Koon pointed out.
“Last month, Tesla’s market capitalisation breached US$1 tril – the sixth company to do so in US history while Elon Musk became the richest person in the world as of this month with a net worth of US$316.5 bil.”
For a start, Tang said both joint venture (JV) partners shall mimic Tesla’s footsteps with the opening of a new state-of-the-art digital retail concept EV showroom in the heart of international financial district Tun Razak Exchange (TRX).
“With this new retail concept, the EV showroom will transform from a traditional predominantly product-centric into a digital retail concept with customer-focused brand experience,” he envisages.
“The EV showroom will offer enhanced retail customer experience with touch-screens which will bring products and services alive in an interactive manner. The entire sales and order process can be completed electronically, including e-signature and online payment.”
Tang further shared that the new EV showroom will showcase more than 10 luxury and premium EVs comprising marquee brands from Porsche, Tesla, Rivan, Mercedes- Benz, BMW, Jaguar and others.
“We will install and manage 50 parking lots with dedicated DC (direct current) fast charging ports and may increase to 100 parking lots when the need and demand arises.
Budget 2022 has proposed a full exemption of import and excise duties as well as sales tax and road tax for EVs. There will also be individual income tax relief of up to RM2,500 given for purchase and installation, rental and hire-purchase of EV as well as payment of EV charging facility subscription fees.
Meanwhile, Focus Dynamics executive director Benson Tay Ben Seng said the company’s JV with Permaju will help businesses maximise their resources to reach and convert targeted and prospective customers.
“Not only do we ensure every critical marketing dollar is invested wisely, the modern marketing operation requires both digitalisation and human expertise to be successful with The Arch’s lifestyle hub concept,” he reckoned.
“With our expertise in F&B (food & beverage), entertainment and lifestyle which bring new concepts and electrifying experiences to all our customers, Focus Dynamics will provide the state-of-the-art robotic MixoBot and lifestyle F&B at the premium lounge for Permaju’s customers experience aside the tenancy.”
Permaju’s Tang further revealed that the company’s next step is to venture into the manufacturing of semi knocked down (SKD) EV motor vehicles in Malaysia in 2023.
The company is currently in discussion with several potential manufacturers in China to form a strategic partnership. “We want to be the Tesla of Asia,” he concluded.
At the close of yesterday’s (Nov 9) trading, Permaju was up 0.5 sen or 7.69% to 7 sen with 3.43 million shares traded (market cap: RM134 mil) while Focus Dynamics was unchanged at 5 sen with 3.32 million shares traded (market cap: RM319 mil). – Nov 10, 2021
