A relatively healthy Asian economy will play a key role in driving the growth of industrial products companies this year.
Chin Well Holdings Bhd is expecting the Asian market to generate about 30 per cent of the group’s revenue this year, compared to about 22 per cent a year ago.
Group director Tsai Chi-yun said in an interview that Europe, which has been the group’s traditional strong market, would contribute around 25 per cent to 30 per cent of Chin Well’s revenue, compared to 42 per cent in 2012.
“The situation in Europe is still very bad. Germany is the only European nation anticipating a 2% to 3% growth,” she added.
Tsai said the first quarter of 2013, which corresponded to the third quarter of the group’s 2013 fiscal year, was expected to be flat compared to last year’s corresponding quarter.
“Another market that is improving is the domestic market, which consumes our fasteners for the infrastructure, construction, automotive, household and automotive sectors.
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