KUCHING: Kim Hin Industry Bhd has formed two new companies in Australia, its most important export market for ceramic tiles.
Wholly-owned subsidiary Ceramica Indah Sdn Bhd (CISB) incorporated the two subsidiary firms – Amber Franchising Pty Ltd and Australian Tiles Pty Ltd last week.
Both companies have a paid-up capital of A$100, Kim Hin said in a recent filing with Bursa Malaysia.
CISB,which has a paid-up capital of RM60 million,is principally involved in manufacturing and sale of ceramic tiles.
Kim Hin has manufacturing plants in Kuching,Seremban in Negeri Sembilan and Shanghai in China.
In 2014,Kim Hin made a key acquisition by taking over UK-based Norcros Industry Pty Ltd,a major importer and distributor of Johnson Tiles in Australia,for RM6.9 million.
Besides,Kim Hin forked out another RM15.75 million to acquire the properties owned by Norcros’s unit Johnson Tiles Pty Ltd.
Norcros had been operating in Australia for over 50 years as an importer and distributor of wall and floor tiles.
The company had outlets in Melbourne,Hobart and Launceston,Sydney and Brisbane.
The acquisition was to expand Kim Hin’s operation in Australia where its unit Kimgres Australia Pty Ltd has been importing ceramic tiles from the group’s Malaysia and Shanghai manufacturing plants and wholesale them across Australia.
In 2016, Kim Hin paid RM19.4 million and acquired a second Australian company – Outset Holdings Pty Ltd – a distributor of premium quality building products in New South Wales.
