KUALA LUMPUR: Main Market-listed Hai-O Enterprise Bhd (Hai-O) has opened the door for cooperation with China to create growth opportunities for the company.
Hai-O group managing director Tan Keng Kang said China is one of the company's important partners.
He said that at the historical moment of the 100th anniversary of the founding of the communist party last year, the company is proud of Hai-O as a bridge of friendship between Malaysia and China.
"Hai-O opened the door for cooperation with China because of China products. From this, it has stepped into the stage of hard work and rapid development.
"After 47 years, Beshom Group has distributed over thousands of Chinese products and maintained a good and close cooperative relationship with more than 200 overseas suppliers," he said at the 47th-anniversary dinner.
Hai-O 47th-anniversary dinner was held at Wyndham Acmar Klang with Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Malaysia Ouyang Yujing.
Tan said Beshom Holdings Bhd, which assumed the listing status of Hai-O, has made restructuring plans to optimize the group structure and overall business planning.
He said the plans were made to clarify the group's business and investment sectors and let the traditional and non-Chinese markets keep pace with each other.
"The plans will allow Beshom to have more diversified and flexible business expansion in the future.
"The arrival of Beshom marks that our enterprise is officially moving towards a new peak.
"Other than continuing our strength in the industry, we will also stick to our core values and strive to manage corporate social responsibility and build a business that integrates the concepts of trust, value, integrity and sustainable development," he said.
On the company's outlook, Tan said the epidemic had brought Hai-O hardships, but it has also honed the company's greater resilience.
"Since 2019, we have been continuously adjusting various operating policies due to the international economic environment that has been severely affected by the epidemic.
"Moving forward, with the shipping costs for raw materials from overseas increasing significantly, Hai-O will always try to strike a balance and strive to reduce the sharp price increase caused by price increases," he added.