Cash-rich B-Quik eyes Asean
Automotive services' retailer B-Quik hopes to benefit from the participation of its new major shareholder - Japanese trading house Marubeni Corp - to further expand its quick-maintenance car repair service here and in other Asean markets.
"B-Quik's success, rapid growth and its expansion plan in overseas markets captured Marubeni's attention, and induced its interest to participate in the business," B-Quik CEO Henk Kiks said yesterday. "Marubeni is one of Japan's largest trading houses with an extensive network covering several countries, including those in the Asia-Pacific region," he said. The relationship with Marubeni is exactly what B-Quik needs, as it would provide financial support when the company wants to expand, Kiks said. Marubeni owns several other businesses in the Asean region and has strong knowledge about each local market that B-Quik plans to expand into. B-Quik is the largest independent retailer of automotive services in Greater Bangkok, controlling over 15 per cent of the tyre market. It offers services that include tyre, battery and lubricant oil changes as well as brake and suspension maintenance and repair for all car types and models. Kiks said B-Quik's plan to expand its outlets in Asean would soon materialise. He explained that the partnership with Marubeni will not affect the management, operations or the company's policies in any way. Thai Strategic Capital, in conjunction with Prudential, transferred its stake to Marubeni in October. Its 45th outlet will open at Tesco Lotus' Chaeng Wattana branch this month. B-Quik expects its revenues this year to rise by 30 per cent to Bt1 billion. Next year, at least five B-Quik outlets will open in Bangkok, and the company will start expanding upcountry B-Quik plans its first overseas venture in Malaysia. A feasibility study will be conducted next April followed by a business plan. The first B-Quik centre in Malaysia is likely to be in Kuala Lumpur's Klang Valley. The first phase will see 30 outlets opening, each costing over Bt15-Bt17 million compared to only Bt15 million in Thailand. "We expect the market in Malaysia to grow faster than when we first set up in Thailand. The main reason is that the motorisation rate in Malaysia is higher and there are more passenger cars on the road. As in Thailand, the concept will be to sell all tyre and oil brands that the customer requires and not be dedicated to only one brand. Vijo Varghese The Nation
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