From being Singapore’s leading integrated building materials supplier to its current standing as one of the region’s major manufacturing and distribution players, Hong Leong Asia’s success is intricately linked to its diversification into the manufacturing and distribution industry in China and Southeast Asia. With over 80 per cent of its market beyond the shores of Singapore, Hong Leong Asia is well placed to leverage on its current position to scale greater heights.
Hong Leong Asia has under its Consumer Products, Diesel Engines and Industrial Packaging arms, three leading China-based manufacturing businesses, namely Henan Xinfei (one of China’s top three largest manufacturers of refrigerators and freezers), China Yuchai Group (China’s largest independent diesel engines manufacturer), and Rex Industrial Packaging Division (manufacturer of industrial packaging containers). GPac Technology, a green packaging company wholly-owned by the Group, is an innovative manufacturer of pallets, which are used for industrial storage and transportation.
The Group, under its Building Materials arm, owns Island Concrete (Private) Limited, one of the largest ready-mixed concrete suppliers in Singapore. In addition, the Group recently increased its stake to become a majority shareholder in one of Malaysia’s leading integrated cement producers, Tasek Corporation Berhad. As a leading integrated building materials supplier, the Group also has a quarry operation in Senai, Malaysia.
As part of the Group’s business expansion and diversification plans, Hong Leong Asia, through its New York Stock Exchange listed subsidiary, China Yuchai International Limited, has acquired stakeholdings in HL Global Enterprises Limited (formerly known as HLG Enterprise Limited) (“HLGE”) and Thakral Corporation Ltd (“TCL”), both of which are Singapore listed companies. HLGE is primarily engaged in the business of investment holding, property development and hospitality, while TCL is a China-focused electronics distribution company.