MyLED Group Seals 15 Partnerships Worth more than RM2 billion in Sales

MyLED Group, Malaysia’s solid state lighting (SSL) and LED manufacturer, will achieve more than RM2 billion in sales for its lighting components over the next five years with sealing sales Memorandum of Understandings (MoUs) with 15 international and local companies.

MyLED signed sales MoUs with six Original Equipment Manufacturers (OEMs) from Germany, Japan, Taiwan and Malaysia. Three of the OEMs, Amprex International Sdn Bhd (Japan), Light-Trend Optoelectronics Technology Co., Ltd (Taiwan) and Osram Opto Semiconductors (Germany), will also provide MyLED with technology and expertise in research & development.

Minister of Human Resources, Datuk Seri Dr S.Subramaniam who is also the lead Minister for the Business Services National Key Economic Area under the Economic Transformation Programme, witnessed the signing ceremony. MyLED Group Chairman, Dato’ Fauzi Said and Managing Director, Encik Razali Pakeer Mohamed were also present.

Datuk Seri Dr Subra said, “MyLED Group’s focused investment in LED technology sets the company on a strong foundation for growth as this is in line with global trends and the Malaysian Government’s emphasis on building a green technology industry.

“McKinsey’s 2011 lighting market report suggests that estimated global revenues from the LED lighting market will grow at 30 per cent per annum, amounting to almost EUR 65 billion (RM277 billion) by 2020 - close to 60 per cent of the overall lighting market.

“In addition, Malaysia will stop all production, import and sales of incandescent light bulbs by or before January 2014, as part of our efforts to save power and to help cut greenhouse gas emissions. Currently, less than 5% of lights in Malaysia are LED lighting, providing LED companies with a ready untapped domestic market.”

Chief Executive Officer, Mr Jetson Lai said, “With Amprex and Light-Trend’s technology, we have started manufacturing SSL fitted with Osram’s LED and have installed them in various public places in Malaysia. The quality of our SSL is well known, and we have recently secured SSL contracts for the quality conscious Japanese market.

“In addition, with Osram’s technical expertise, especially in LED chip, and our manufacturing know-how, we will commence mass production of the component in January 2012. In less than two months from today, we will be the first SSL and LED manufacturer in Malaysia.”

He added, “We are investing RM175 million to expand our plant to cater to the growing demand for LED lighting. Upon completion in 2014, we will be able to produce up to 150 million pieces of LED per month.

“This will bring prices down by 50 per cent, and enable us to compete with the Chinese manufacturers in terms of pricing in China and worldwide. However, we will offer German quality LED lighting with up to five years warranty.

“Our components will be highly affordable in Malaysia and in our key markets; Japan, China, South Asia and the African continent.  This will also open up new opportunities in Europe and the U.S. where consumers are also concerned about energy efficiency and the payback period.”

MyLED also signed a joint venture agreement with MyLED Lanka (Pvt) Ltd of Sri Lanka to penetrate into the South Asian market.  In addition, MyLED sealed sales MoUs with eight distributors and agencies in Taiwan and Malaysia.

Lai also said, “We are very excited about our first overseas investment. MyLED Lanka (Pvt) Ltd is a joint venture company which will cater to the South Asian consumers. We will set up a manufacturing plant and a centre of distribution in Colombo. The plant which is expected to be operational in the first quarter of 2012 will initially produce 30,000 pieces of SSL per month. By 2014, we expect to manufacture 100,000 pieces monthly.

“By virtue of proximity to the market, we will be able to provide quality products at affordable prices and provide good after sales services. Over the next five years, we expect sales of SSL and LED to be in excess of RM200 million.”

In addition, MyLED Group’s plant in Melaka which houses the R&D centre, will be working towards manufacturing “plug and play” LEDs. “This means that different LED lighting solutions can be plugged into a standard socket, giving corporate and retails consumers a wide variety of choices in changing the lighting at minimal cost,” he explained.

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