Ni Hsin Berhad Annual Report 2017

Annual Report 2017 Ni Hsin Resources Berhad (653353-W) 7 Overview of the Group’s Business and Operations Ni Hsin Group is a leading manufacturer of high quality premium stainless steel products in Asia. Our manufacturing and production facilities are located in Seri Kembangan, Selangor. Vision Our Group strives to be the leader in exquisite Stainless Steel Products from Asia and beyond. Principal Activities of our Group Manufacturing of premium stainless steel products: • Premium Stainless Steel Multi-ply Cookware ranging from pressure cookers, woks, pots and sauce pans for household and commercial use on an Original Equipment Manufacturing (“OEM”) or Original Design Manufacturing (“ODM”) basis; • Multi-ply Stainless Steel Clad Metal; • Stainless Steel Convex Mirror; and • Stainless Steel Household Water Filtration Systems. Key Markets Our key markets are as follows: Asia Pacific (excluding Japan) – 45.7%, Japan – 33.3%, USA & Canada – 5.1%, Europe – 15.9% Management Discussion And Analysis Strategies in Creating Value The strategies adopted by the Group in 2017 aimed at continuously sustaining competitive advantage and include the following: • Strengthen pricing strategy of both sales and procurement through periodic forecast and planning; • Quality assurance and sustainable practices both in production and procurement; • Competitive selling price for high quality products and attractive package; • Continuous improvement in Quality Management System; • Speedy response to customers’ needs and feedback; • Implementation of Enterprise Resources Planning (“ERP”) system to enhance production planning and efficiency, management control and decision making thereby improving profitability; and • Strengthen manpower quality and efficiency by providing appropriate skills and leadership training programmes.