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STAMFORD TYRES CORPORATION LIMITED
BUILDING ON OUR EXTENSIVE NETWORK
property amounting to $5.6 million
in FY2014. The decrease was the
result of lower provision of doubtful
debts, allowance for inventory
obsolescence and rental expenses
offset by higher depreciation,
salaries and marketing costs.
THE GROUP
The Group has expanded its
network to over 7,000 dealers and
distribution centres in 11 countries.
They are located in Singapore,
Malaysia, Thailand, South Africa,
Indonesia, Australia, India, Vietnam,
Brunei, Hong Kong and China.
SINGAPORE
Total revenue of $86.3 million
includes retail chain operations,
truck tyre centres, local wholesaling
as well as the export of tyres and
wheels to countries other than the
11 countries mentioned above. This
was 14% lower than last year due to
lower exports. However, Singapore
contributed 29% to the Group’s total
revenue.
MALAYSIA
Malaysia remained a significant
market to the Group, with revenue
contribution of $88.0 million in
FY2015, or 30% to the Group’s
revenue. Revenue in local currency
terms remained comparable year-
on-year. The dealers network for
Falken tyres in the country had
grown to 1,000.
THAILAND
We have two operating subsidiaries
in Thailand:
• Stamford Sport Wheels Co Ltd
(“SSW”), which operates two
factories manufacturing
aluminium alloy wheels; and
• Stamford Tires Distributor Co Ltd
(“STD”), a wholesaler of tyres and
wheels.
SSW products continued to enjoy
strong demand in South East Asia,
particularly in Thailand. Higher price
per wheel, lowering of production
costs and optimisation of product
mix have resulted in improved
profitability for SSW. SSW generated
revenue of S$17.9 million in FY2015
compared to $13.9 million the
previous year, an increase of 29%.
STD recorded an increase of 16%
in revenue of $26.4 million as
compared with $22.7 million last
year. Dealers network for Falken tyres
and SSW was approximately 700.
The combined revenue of both
subsidiaries was $44.3 million in
FY2015 compared to $36.6 million
in FY2014 which was an increase of
21%.Thailand contributed 15% to the
Group’s total revenue.
An earthmover tyre fitting on-site in Balikpapan, Indonesia
May 2015 - Falken ZIEX ZE914 and SINCERA SN832i Launch in Johor Bahru, Malaysia
Clockwise From The Middle: Wee Kok Wah (President, Stamford Tyres Corp Ltd), Cham Soon Kian (Executive Vice President, CEO of Malaysia, Stamford Tyres Corp
Ltd), Soh You Hoo (Dealer, Soh Brothers), Teo Kim Hui (Dealer, Soh Brothers), Chia Kiang Mun (Senior Sales Manager, Stamford Tyres Malaysia), Tee Hock Ming (Dealer,
Sinwufu Enterprise), Tee Lay Hoon (Dealer, Sinwufu Enterprise), Koh Lee Ming (Assistant GM, Stamford Tyres Malaysia), Wu Xiao Ning (Manager, Sumitomo Rubber Asia
(Tyre) Pte Ltd), Takuya Machida (General Manager, Sumitomo Rubber (Thailand) Co. Ltd), Dawn Wee Wai Ying, (Executive Director, Stamford Tyres Corp Ltd)
