Hong Kong, Mar 31, 2009 AEST (ABN Newswire) - Tiande Chemical Holdings Limited (HKG:0609) is a fine chemical manufacturer providing chemical products for manufacturers in the consumer product, pharmaceutical, agricultural, gasoline industries. Due to the growing demands from its already established client base, including famous household brand names Henkel and Givaudan. In FY 2008, the company recorded a strong growth in company turnover (by 26.3%), Gross profit (by 43.7%) and also EPS (by 14.8%). Company main product is Ester which account of approx 60% of its current turnover.
Tiande's General Manager Mr Byron Chak stated that his company success was base on the following factors.
Increasing Market Share: During the period 2007 - 2008, many of the competitors were forced out of business due to their heavily debt burdened balance sheet. Tiande was able to sustain the global economic downturn due to its strong financial portfolio. In comparison, Tiande has a stronger current ratio of 0.82 at the time of writing this article. Hence, Tiande was able to garner more market share after the downturn and benefitted from this in the FY 2008.
Committed Management: Tiande has also got a dedicated management team with most of their management working for their company for over 10 years. The management has a single and clear vision on their strategy, which is to become the market leader in the chemical industry. In fact, the company has already achieved their leadership by holding more than 60% of the market share in the Cyanoacetic Esters industry during FY 2008.
The scale of production: Since its inception, "the scale of production" is still the mainstream management philosophy of their production strategy, which gives rise to its cost advantage. Also, the Group has carried out a stringent product quality control system which is also one of the key factors to sustain the competitiveness of the Group.
Relationship with local government is also an important part of their success. In FY 2008, the company started to engage in manufacturing Polyisobutylene (an environmentally friendly chemical) with the support of the China Government in their Weifanf Binhai operation.
New Product Development: Most of the company growth was contributed by their production of new products including Sodium Cyanide, Cyano Acetic Acid and Diethyl Malonate in 2008.
When asked about the company direction in FY2009, Mr Chak stated that the company is planning to roll out 2 new products, DMM and Polyisobutylene. The company anticipates the 2 new products will bring about 15% in their annual turnover in FY2009.
About Mr CHAK Kwan, Byron
CHAK Kwan, Byron, aged 42. Mr. Chak graduated from the Shanghai Fudan University and The Hong Kong Polytechnic University with a bachelor degree in arts and a master degree in corporate finance with distinction in 1990 and 2005 respectively. Mr. Chak is a member of The Hong Kong Institute of Certified Public Accountants and a fellow of The Association of Chartered Certified Accountants. Prior to joining the Group, Mr. Chak was the qualified accountant of SIIC Medical Science and Technology (Group) Limited and the assistant general manager and financial controller of Nanyang Brothers Tobacco Company Limited. Mr. Chak has extensive working experience in accounting and corporate finance fields in Hong Kong and the PRC.
Contact
Investor Relations Contact
Mr Byron Chak
Tel: +86-536-210-3227
Email: chakk@tdchem.com
Website: http://www.tdchem.com
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