Greater heights in the offing for ambitious ventures
Propelled by increased spending from the consumer and business sectors, Malaysia's gross domestic product is projected to rise by as much as 5.1 per cent this year.
Propelled by increased spending from the consumer and business sectors, Malaysia's gross domestic product is projected to rise by as much as 5.1 per cent this year.
The country has also received favourable forecasts from industry observers who have analysed its IPO market in the past years. Many analysts agree that this year's IPO market should perform just as well, if not better, as last year due to a stable political and economic climate. Furthermore, the oil and gas and property industries are also expected to lead to new IPO launches.
The year will likewise mark milestones for Weststar as it ventures once again into new, exciting and game-changing journeys. This is especially true for the group's flagship corporations, Weststar Aviation Services, Global Komited, Weststar Maxus and Weststar Maxus Distributors.
KKR partnership strengthens reach, paves way for IPO
Having been able to catch the interest of United States-based investment firm Kohlberg Kravis Roberts (KKR) is, in itself, a testament to how far and wide Weststar Aviation Services has reached since 2003. The fact that the partnership is KKR's first-ever investment in the country is another.
KKR invested about US$200 million in Weststar Aviation Services last year, enabling it to gain a sizeable minority stake in the corporation, which is set to magnify its presence as the preferred helicopter services provider to the oil and gas sector.
Syed Azman Syed Ibrahim, Weststar Group managing director, refers to the partnership as a vehicle to take the group to the next level, which he believes will harness Weststar Aviation Services' full potential in offshore aviation. He is confident that KKR's established networks and resources in Southeast Asia, in particular, will be a key conduit for Westar Aviation Services' regional and global growth.
"Beyond having a common vision of building a global leader in offshore helicopter services, KKR and Weststar Aviation Services clearly add value to each other's individual strengths," Syed Azman says. "We hope to then pass on such added value to our clients as we move forward together."
KKR has also expressed its confidence in its partnership with Weststar Aviation Services and Malaysia's oil and gas industry in general, which is forecast to continue flourishing in the coming years.
KKR is backed by a long and positive track record in Asia, where it has about US$1.5 billion in total investments.
Syed Azman met with KKR's Southeast Asia regional head Ming Lu at the partnership signing ceremony in October, where Ming reinforced that the joint venture will pave the way for value-added services.
As with Syed Azman's other strategic moves, however, partnering with KKR makes up only a part of Weststar Aviation Services' bigger plans when it comes to growth and expansion. One major objective is to launch an IPO for Weststar Aviation Services within this year, but not before the company has reached its targets.
"An IPO for Weststar Aviation Services is certainly in the offing, but the timing and value must be right," Syed Azman says. "The company has tremendous potential - and we look forward to realising it fully with prospective investors and stakeholders."
Sharing Syed Azman's view, Ming also acknowledged that a public listing is a likely option for Weststar Aviation Services, but is not in the company's immediate priorities.
According to Syed Azman, the company is more interested in leveraging KKR's know-how and experience in running a large, regional operation. It aims to further expand its fleet of 45 helicopters, and win more overseas contracts in the next 12 months.
Having participated in various tenders in Africa, Thailand and Morocco, Weststar Aviation Services expects to expand its footprint in Southeast Asia and West Africa.
Full protection at a fraction of the price
While national defence is of the utmost importance for every country, most developing nations are able to allocate only a small budget for their defence. Coming from a military background and a country focused intently on development, Syed Azman turned his understanding of such a crucial yet delicate issue into a win-win opportunity for Weststar and its clients through Global Komited.
"Cannot afford to buy a fleet of state-of-the-art military vehicles? Buy a standard commercial vehicle and we will upgrade it with the complete armour, equipment and design that is worthy of any defence mission," Syed Azman says. "The best part of working with us is being able to customise every part and function of each vehicle, which means getting exactly what you need - at the price you are willing to pay."
Each Global Komited vehicle can save clients as much as 75 per cent of their budget without compromising quality and security. The savings, in turn, can be allocated for bigger priorities such as education, technology advancement and other development agenda. The company aims to grow its clients locally and in similarly emerging economies such as Indonesia, Thailand and the Philippines, among other Asian countries.
Maximising Maxus' potential
Understanding the market - and its intricate needs - has been a crucial factor to Weststar Group's growth. Weststar Maxus and Weststar Maxus Distributors testify to applying such know-how and understanding, exemplifying that paying attention to customers results in a bigger payoff in the long run.
Weststar Maxus quickly became popular since its inception, thanks to its ability to turn an average large van into a highly customised and specialised vehicle. Apart from being the ultimate passenger van, a unit can turn into a rescue van or ambulance, prisoner carrier, forensic vehicle, broadcast communications hub and even a mobile office.
As many as 1,000 vans roll out of Weststar Maxus' facilities each year - with assembly, distribution, marketing, sales and after-sales services all done in-house, ensuring customers uncompromised quality. Among Weststar Maxus' repeat clients are government offices, including the Armed Forces, Fire and Rescue Department, Ministry of Health, Ministry of Youth and Sports, Road Transport Department, banks and a host of hospitals.
Through its joint venture agreement with one of China's largest automakers, Shanghai Automotive Industry Corporation (SAIC), signed in 2010, Weststar Maxus holds exclusive distribution rights for SAIC's offerings across Asia-Pacific.
The main manufacturer of the Weststar Maxus V80 commercial vehicles line, SAIC recognised Weststar Maxus' success and ambassadorship with its Most Outstanding Distributorship award last year. Weststar Maxus Distributors has also earned the privilege of becoming the first SAIC partner overseas allowed to assemble vehicles for regional distribution through factories in Malaysia.
"Earning the trust of partners such as SAIC is an achievement rooted in hard work and the perseverance of our people," Syed Azman says. "It motivates Weststar Maxus and the rest of the group to work even harder to deliver better products and reach higher targets."
The company will continue to open more showrooms and after-sales centres throughout Malaysia, and is slated to extend its regional footprint in Indonesia where the Maxus V80 will soon be launched.
"The Asia-Pacific will definitely see more of Weststar Maxus' signature vans in the near future," Syed Azman says. "Not only will the region have more Weststar Maxus offices, it will also witness further innovations rolling out from our doors."