Trade & Industry Introduction
Over the years, Hong Leong Asia has evolved strategically in its business scope in response to market changes, from one of the largest integrated building materials suppliers in Singapore and the region to become a major manufacturing player in Asia. The Group is well positioned with over 80 per cent of its manufacturing businesses in China, now the fastest growing market in the world.
Hong Leong Asia has under its Home Appliances, Diesel Engines and Industrial Packaging arms acquired three leading China-based manufacturing businesses, namely Henan Xinfei (China's second largest refrigerators and freezers manufacturer), China Yuchai (China's largest independent diesel engines manufacturer) and Rex Packaging (manufacturer of industrial packaging materials).
The Group, under its building materials arm, owns and operates PT Karimun Granite, South East Asia's largest hard rock quarry operation located in the Northwest of the Indonesia island of Karimun. The quarry supplies marine rocks for reclamation works in Singapore and the surrounding region as well as raw materials for the Group's other operations.
In January 2003, Hong Leong (China) Limited, a wholly-owned subsidiary of Hong Leong Asia, signed an agreement with EKP International Pte Ltd to establish GPac Technology (S) Pte Ltd, a new manufacturing company for bio-degradable packaging products. This joint venture complements Hong Leong Asia's existing industrial packaging business and aligns the company's business strategies to global environmental issues, enhancing the company's competitive advantage in the packaging industry.