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 user 2005-06-02 at 10:46:00 am Views: 41
  • #9621

    Hyundai-Oatec to grab market

    Home-grown original equipment
    manufacturer Oatec Corp Sdn Bhd is hopeful of capturing a fair share of the
    local printer toner market through its collaboration with South Korea’s Hyundai
    Corporation to produce the Hyundai-Oatec printer cartridges, says Oatec
    president Hamidah Osman.

    President of Oatec
    Corp Hamidah Osman (centre) explaining the print cartridges products to Deputy
    Minister of Entrepreneur & Cooperative Development Datuk Khamsiyah Yeop (on
    her right). Looking on are Hyundai Corp deputy GM brand business team
    information & telecommunication div Kim Sung Soo (far right) and Hyundai
    Corp GM Jung Duk-Kee.

    “Initially, we are
    hoping to capture about 1% of the Malaysia printer toner market, which is worth
    roughly about RM700 million. However, we see this number gradually increasing to
    30%,” she said, adding that the company hoped to make RM7 million in earnings
    this year from the new product.

    She was speaking to reporters at
    the official launch of the Hyundai-Oatec “Print Cartridge” in Putrajaya .

    Hamidah, who holds 25% of the
    bumiputera-majority owned Oatec Corp, said the company was also looking to break
    into the lucrative global printer toner market, leveraging on its tie-up with
    Hyundai Corp and its competitive pricing at 20-30% cheaper than

    She said the world’s toner market
    is worth an estimated US$12 billion (RM45.6 billion), growing at a rate of 10%
    per annum.

    “There is definitely great
    potential for us to enter the printer toner market, which is currently dominated
    by the few big name brands like Canon and Hewlett-Packard. Not only are we
    cheaper, but we are an original Hyundai alternative OEM product that is
    compatible with all printers,” Hamidah said.

    Oatec has an extensive network of
    distributors nationwide as well as a regional network in Singapore, Thailand and