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Hong Kong, Oct 14, 2009 (ABN Newswire) - Vietnam's leading motorbike manufacturer - Vietnam Manufacturing and Export Processing (Holdings) Limited (HKG:0422) introduced two scooters series in the second half this year, mainly targeting high-end and youth man scooter market. Positive market response has been received with the Shark series recorded a monthly sales volume of 1,012 scooters as at the end of September as compared to 422 scooters in July.
Following the successful launch of Victoria and Attila series which are popular among female customers, VMEPH consolidated the R&D capabilities in both Taiwan and Vietnam to introduced two new scooters series, namely Shark and Joyride, targeting the high-end and youth man scooters market respectively. With sedan-like design and superior functionality, Shark series represent a sense of fashion. Joyride series emphasize on its fashionable design and functions through utilizing modernized techniques in its design, manufacture and production, meeting the needs of younger generations on both appearance and functionality.
Mr. Chen Pang Hsiung, CEO of VMEPH said, "Vietnam motorbike market was hit by the global financial turmoil last year. To improve its profitability, the Company has strengthened its competitiveness through enhancing its internal control and dedicating additional resources towards new product development. Vietnam's economy and motorbike market has been on the road of recovery since the second half of this year, with the growth of GDP increased from 4.46% in the second quarter to 5.76% in the third quarter of 2009. We believe that, the Company has successfully thrived through the financial turmoil. With the improving market environment and the launch of new products, we strive to achieve excellence and promising results in the future."
The unaudited net operating revenue of Vietnam Manufacturing and Export Processing Company Limited, a directly wholly owned subsidiary of the Company, was approximately NT$640 million (representing approximately USD20 million)* for September 2009, representing an significant increase of 72.6% as compared with approximately NT$370 million (representing approximately USD10 million)* in the previous year, and an increase of 28.6% as compared of June 2009 before launching of the Shark series which amounted to approximately NT$500 million (representing approximately USD16 million)*.
* Exchange Rate. USD1 = TWD 32
Issued by Porda International (Finance) PR Company Limited for and on behalf of Vietnam Manufacturing & Export Processing (Holdings) Limited.
Following the successful launch of Victoria and Attila series which are popular among female customers, VMEPH consolidated the R&D capabilities in both Taiwan and Vietnam to introduced two new scooters series, namely Shark and Joyride, targeting the high-end and youth man scooters market respectively. With sedan-like design and superior functionality, Shark series represent a sense of fashion. Joyride series emphasize on its fashionable design and functions through utilizing modernized techniques in its design, manufacture and production, meeting the needs of younger generations on both appearance and functionality.
Mr. Chen Pang Hsiung, CEO of VMEPH said, "Vietnam motorbike market was hit by the global financial turmoil last year. To improve its profitability, the Company has strengthened its competitiveness through enhancing its internal control and dedicating additional resources towards new product development. Vietnam's economy and motorbike market has been on the road of recovery since the second half of this year, with the growth of GDP increased from 4.46% in the second quarter to 5.76% in the third quarter of 2009. We believe that, the Company has successfully thrived through the financial turmoil. With the improving market environment and the launch of new products, we strive to achieve excellence and promising results in the future."
The unaudited net operating revenue of Vietnam Manufacturing and Export Processing Company Limited, a directly wholly owned subsidiary of the Company, was approximately NT$640 million (representing approximately USD20 million)* for September 2009, representing an significant increase of 72.6% as compared with approximately NT$370 million (representing approximately USD10 million)* in the previous year, and an increase of 28.6% as compared of June 2009 before launching of the Shark series which amounted to approximately NT$500 million (representing approximately USD16 million)*.
* Exchange Rate. USD1 = TWD 32
Issued by Porda International (Finance) PR Company Limited for and on behalf of Vietnam Manufacturing & Export Processing (Holdings) Limited.
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About Vietnam Manufacturing and Export Processing (Holdings) Limited
Vietnam Manufacturing and Export Processing (Holdings) Limited is one of the leading manufacturers of scooters and cubs in Vietnam, ranking the third amongst the principal foreign-owned motorbike manufacturers in terms of sales volume. The Group also produces motorbike engines and parts for use in its own motorbikes and for sale and it sells and services moulds for making die-cast and forged metal parts. The Group’s manufacturing and assembly operations are conducted principally in two factories located near the two largest cities in Vietnam, namely Ho Chi Minh City and Hanoi.
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