On 5 October (the day after Chinese mid-Autumn festival) Point S auspiciously opened its first store in Petaling Jaya, Malaysia a short 30 mins drive from Kuala Lumpur city Centre.
The news comes barely after Malaysia’s public listed GIIB group signed on as a licensee of Point S Malaysia. GIIB group, is known for its “Supercool” brand of retread rubber.
Point S has launched in Asia, specifically Malaysia. Malaysia becomes the first country on the continent Asia to join the international network of independent tyre dealers after the group began in Europe and has since expanded into America and Africa.
The implementation of the brand will be operated through a master franchise agreement with GIIB Group (Goodway Integrated Industries Berhad) and partners, which will create a dedicated company to manage and develop the Point S network.
The financial year ending 31 December 2015 saw Malaysia’s Goodway Integrated Industries Berhad (GIIB), parent company of Goodway Rubber Industries and several other rubber compounding and retreading businesses, record its second consecutive net loss despite a positive contribution from the firm’s new venture into property development. To reverse this trend, GIIB is decreasing its reliance upon the company’s traditional rubber and tyre-related core business, and it has now taken a significant further step in this direction through the acquisition of S5 Systems Sdn Bhd. GIIB says this transaction will result in a “significant change in business direction.”
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