Truck segment expected to grow by 10%-15% over next three years
Petaling Jaya, 5 May 2016 - Sime Darby Industrial Sdn Bhd is anticipating significant growth of its Caterpillar truck business under Tractors Malaysia, with mega infrastructure projects and townships in the pipeline on top of the upbeat momentum of the mining and quarry industries.
According to Chong Kwea Seng, Managing Director of Tractors Malaysia, the exclusive dealer for Caterpillar in Malaysia, its truck segment is expected to grow by approximately 10%-15% over the next three years.
“There are encouraging opportunities in the mining and quarry industries, infrastructure projects such as the Pan Borneo Highway, and major development projects such as Sime Darby Property’s 5,000-acre Elmina Township.
“Heavy-duty trucks are also making a major comeback to the Malaysian market, thanks to the Malaysian government’s relaxation of import duties as well as the robust demand for these vehicles in the relevant sectors.
“Currently, the lighter capacity Caterpillar 740B model is one of the leading models in the market segment and the Caterpillar 745C will fortify this position in the market. We expect the 745C model to contribute up to 11% of our annual revenue,” Chong said at the launch of two Caterpillar models, the 745C model and 349D2 L Hydraulic Excavator in conjunction with a handover ceremony to Pembinaan Tetap Teguh Sdn Bhd (PTT).
He added that customers could expect efficient and productive worksites with the capacities of these two models, described as the “ideal” pair.
Chong said PTT’s recent deployment of 10 units of the 745C into the Elmina Township site is a testament of PTT’s confidence in the Caterpillar marque. PTT is also the first to deploy the 745C model in Malaysia on top of an impressive fleet of more than 70 Caterpillar machines across various worksites in the country.
“The 745C truck will be an invaluable contributor to the projects which are extremely demanding, requiring safe, round-the-clock uptime and high haulage capacity. It is equipped with the latest technologies in safety and efficiency, costing less to operate than the equivalent of three-to-four generic China-made trucks,” Chong added.
Chong said on a global scale, Caterpillar Inc. is focused on Asia, including Malaysia, as a key market to lead its next wave of growth.
He added that with the current operating landscape and Caterpillar’s track record for a superior quality product range that is stronger than ever after close to 90 years of experience in the industry, Tractors Malaysia is well-poised to drive further growth in Malaysia.
“Caterpillar has a long history of innovation and its strength lies in its ability to integrate sound technology into all its products and services to help customers achieve their business objectives, while maximising cost efficiencies.
“Caterpillar’s eclectic blend of proven technologies and superior design provide highly productive, durable and reliable off-highway trucks to meet our customers’ greatest need – lowest cost per tonne,” he concluded.
For further information, please contact:
Sime Darby Berhad
Tel: 03-2711 3895 (Off), 019-299 0470 (HP)
About Sime Darby
Sime Darby is a Malaysia-based diversified multinational involved in key growth sectors, namely, plantation, industrial equipment, motors, property and energy & utilities. Founded in 1910, its business divisions seek to create positive benefits in the economy, environment and society where it has a presence.
With a workforce of 132,000 employees in 26 countries and 4 territories, Sime Darby is committed to building a sustainable future for all its stakeholders. It is one of the largest companies on Bursa Malaysia with a market capitalisation of RM45.73 billion (USD11.43 billion) as at 4 May 2016.
About Tractors Malaysia
The Tractors Malaysia Caterpillar dealership under Sime Darby Industrial Sdn. Bhd. has been managing Caterpillar’s heavy equipment business in Malaysia since 1929. It is a partnership between Malaysia's multinational, Sime Darby Berhad, and Caterpillar, the world’s number one manufacturer of heavy equipment and power systems.
Tractors Malaysia forms part of the Sime Darby Industrial Division, a core division of the Sime Darby Group. Sime Darby Industrial covers the Asia Pacific region with heavy equipment operations in Australia, Brunei, China, Christmas Island, Hong Kong, Malaysia, Maldives, New Caledonia, Papua New Guinea, Singapore, and Solomon Islands.
In Malaysia, Tractors Malaysia offers a comprehensive list of heavy equipment and services, ranging from the sales of new machines, engines and used equipment to after sales support and rental equipment through its chain of Cat Rental Stores nationwide. Tractors Malaysia currently operates through a nationwide network of 23 branches, 6 depots and 7 Cat Rental Stores.