WSA Capital and Australia-based Venture Asean have established a new joint venture (JV) company, WSA Venture Australia (M), to produce automotive component parts in Malaysia.
These parts will exported to Australian, Asian and global markets. WSA Group and Venture Australia Group hold 50% each in the newly formed entity.
WSA Venture Australia will produce products in two phases for export to Venture's Australian operations as well as local and Asian markets.
During the first phase, the company will produce and ship automotive components to Australia.
Components to be produced in the first phase include dash/instrument panel trims, instrument panel hood cluster, door panel inserts, upper pillar trims, front seat back and map pocket, console lids and other upholstery trims and hydrographic printing.
The company will expand its portfolio by including module assembly for interior trims, dash/instrument panel module assembly, door module, center console, product design capabilities and services as well as product engineering capabilities and services while in the second phase.
WSA Group chairman and CEO Wan Mohamed Wan Embong said that there are more brands coming to Malaysia and they require advance technology to produce components.
"Partnering with Venture Australia and their global network will make it easier for us to enter and serve these companies," Mohamed Wan added.
"We need to have global competitiveness in quality, costs and delivery to expand our market."
