Tyre distributors in Singapore on a roll
Rising real income in booming economies like China and Thailand are driving
sales of automobiles there, Singapore companies YHI International and
Stamford Tyres are poised to ride the strong tide of demand.
This has created a competition war between the two players. YHI has a much
stronger foothold in the fast-growing China market as it also manufactures
alloy wheels and distributes wheels and related products. In China, YHI has
already built a network of 148 distributors and 1,018 retailers, and aims to have 1,200 retailers in the thriving Yangtze Delta by the end of next year.
But Stamford Tyres is also upping momentum to capitalise on the automotive growth in the region. In its first-half 2004 results, Stamford said 79 per cent of turnover came from South-east Asian markets, while North-east Asia accounted for 19 per cent.
This year, it plans to begin production at a new wheel plant, of close to half a million rims annually.