PETALING JAYA: 10 leading Taiwanese companies introduced their popular products to the Malaysian market at the Taiwan Excellence Building Materials Online Product Launch on Wednesday, with more than 100 building-related Malaysian businesses invited to participate in the event.
The launch highlights the optimism of Taiwanese companies in the potential of the Southeast Asian market.
Presented by Taiwan Excellence, the stamp of quality awarded to the best Taiwanese made products, this event is organised by Taiwan’s Bureau of Foreign Trade, Taiwan External Trade Development Council (Taitra) and co-organised by the Plumbing Association of Taiwan.
Taiwan’s building materials industry has been moving increasingly towards a diversified development trend of integrating designers, new technologies, and emphasis on the use of non-toxic and environmentally friendly materials. The Plumbing Association of Taiwan is at the forefront of the change in Taiwan’s highly developed water and hardware industrial cluster and is immensely interested in promoting the industry in the Malaysian market. The association has brought together outstanding plumbing hardware manufacturers from Changhua with the hope of strengthening the interaction and cooperation with Malaysian hardware related manufacturers in the future.
Building Material Distributors Association of Malaysia (BMDAM) president Bill Lee said the pandemic has been tough on everyone, and he believes that the technology which reduces costs and human-to-human contact are going to be highly sought after by the construction industry. In addition, environmentally friendly approaches, particularly in terms of energy, water and material have always been a common goal for the market and Taiwan makers have many products that answer this need.
Malaysia has been greatly impacted by the pandemic and Lee revealed that the value of construction work in Malaysia dropped 14.2% in Q4’20 but has improved slightly to a 10.5% contraction in Q1’21 (amounting to RM31.4 billion).
Taiwanese companies are actively expanding their reach globally with innovative products and unique market proposition that answers the needs of the market. The response to Taiwanese products is encouraging and there is huge potential to be untapped. Many Malaysians businesses have been looking to form strategic alliance with their Taiwanese counterparts to synergise with Taiwan’s proven research & development capabilities and build upon local expertise to expand outwards into the greater Southeast Asian market.