Automotive sales help Jackspeed
Singapore-based Jackspeed Leather Special Pte Ltd has said it expects its plant in Kluang, Malaysia, to contribute RM25 million ($6.6 million) to turnover this year - up from RM22 million last year. Total group turnover is projected at S$35 million ($19.2 million)– up on the S$24 million in the previous financial year.
Speaking at the official dedication of the factory, chief executive officer Jackson Liew said the group was optimistic of achieving its target this year, largely on the back of sales in the automotive marketplace.
He said Jackspeed Leather Special Manufacturer (M) Sdn Bhd, set up at the height of the Asian economic crisis in 1997, had consistently performed well and that the value of the company’s initial investment in the Kluang plant had risen from RM200,000 to RM5.6 million, including the value of the 887,000-sq-ft land bought for the plant.
Jackspeed’s Kluang plant exports 90% of its production through the company’s headquarters in Singapore, with 10% of its output going to the domestic market. The plant uses cow hides from Austria, Germany, Italy and Britain, and is claimed to be with only leather goods producer in the region to possess both QS9000/ISO9001 and ISO14001 accreditation.
Apart from car seat covers, Jackspeed also makes covers for steering wheels, gear knobs, hand brake gaiters and coverings for car dashboards. Liew said that by the end of 2002, monthly production at the Kluang plant will have reached between 5,000 and 7,000 units.
