Mega888 Website APM Automotive Acquired A 52% Stake In

APM Automotive acquired a 52% stake in Omnimatics for RM2.225 million APM aims to grow to a RM2 billion turnover organisation by 2020     APM Automotive Holdings Bhd is one of Malaysia’s largest automotive components manufacturing groups mega888 website with revenues of RM1.2 billion in 2017, and a net income of RM39.1 million. Their products include car suspensions, radiators, interior parts – and now, CARdio, an innovative gadget likened to a “Fitbit for your car”. If this seems an unusual turn for what seems to be a conventional manufacturing company, Low Seng Chee, APM Automotive CEO agrees. “APM group has been in existence for well over 45 years and this is perhaps the first time of branching out into a digital era,” said Low. “There is a lot.

Of opportunity to modernise.” Extracting data from a car In this new era of Industry 4.0 there is frequent talk of companies transforming or pivoting to meet the challenges of the new century. APM's response was just to simply go out and buy a company mega888 website so startup and digital, it ticks all the boxes. “I was 28, I realised that okay, it's make-or-break at this point,” said Raj Kissu, Omnimatics Sdn Bhd CEO. He had been involved in startups before and was keen to begin one of his own. But in the meantime, he had to make ends meet by being part of the gig economy. "It was through driving for Uber and Grab that I came upon this idea,” he continued. He realised that it was.

Important for him to make sure that his car was well-maintained but wondered if there was a way to know when parts needed replacing. It seems all he had to do was plug in and ask the car. “The technology that we leverage on in order to extract this data has been available since 1996 mega888 website ” said Raj. “By being able to analyse the data that the vehicle’s onboard computer outputs you can make rough predictions as to when possible breakdowns might happen.” It’s a feature that has been leveraged on in the US and Europe by companies like Zubie, Automatic and Automile, taking advantage of the wealth of data that cars in those regions can offer. "That however was not the case in Malaysia which I found.

Later on mega888 website " mused Raj. “In Southeast Asia support for that was non-existent.” Nevertheless, Raj persevered and WatchTower and Friends agreed to pre-seed Omnimatics for RM50,000 in exchange for 8% of the company. When the traditional meets digital APM took notice of Omnimatics about a year after this. “We met up with Raj and he seemed like a very enthusiastic young person," said Low. “Omnimatics obviously fits in very nicely with the APM growth plan with regards to how we can move along the technology curve,” he continued. By ‘growth plan’ Low was alluding to APM’s intent to grow from what is currently a RM1.2 billion company to a RM2 billion turnover organisation in 2020. In December 2016, APM Automotive acquired a 52% stake in Omnimatics for RM2.225 million. Despite.