TAIACE Engineering Sdn Bhd (Taiace) – a diversified company serving a large spectrum of industries received the “Best Compounded Annual Growth Rate (CAGR) for Revenue” award.
The award was given to the home-grown company by the Malaysia Venture Capital Association (MVCA) on April 24 at the Sime Darby Convention Centre, in Kuala Lumpur recently.
Speaking to The Petri Dish at Taiace main office in Nilai, its CEO, Isa Ismail said: “We are grateful and honoured to have received this award from the MVCA, and we believe that this happy occasion only serves to enhance our profile in the industry.”
He noted that the company’s revenue in the past five years had seen a compounded growth rate of 30 per cent per annum.
Beginning as a steel component manufacturer, supporting telecommunications, power, automotive and furniture industries, Taiace’s main business focus now is in the design, manufacturing, installation and commissioning of: Storage Solutions and DC Power Systems for the telecommunication industry, energy-saving products and solutions for buildings and industries.
In 2001, Taiace started producing and innovating new products with quality excellence for sustainability in the challenging market.
“We have exported our products to 12 countries including the US, but the biggest opportunity is still at home.
“We established our subsidiary in Indonesia in 2007 and are running a 10-year contract with Muhammadiyah Group Hospital in Indonesia. PT Green Solutions Indonesia which is 100 per cent owned by Taiace Engineering is the pioneer of Energy Performance Contract projects in Indonesia.
“We are getting more clients and seeing bigger projected growth in Indonesia for the next five years,” says Isa.
Passionate about the industries he is serving, Isa says patience and consistency is the key to the success of his company.
“We also must understand the culture, establish confidence and be very careful with whoever that we deal with.
“We have been in Indonesia for ten years now. Last year, we managed to secure another sustainable project from a reliable customer in Indonesia.”
Isa, who always puts innovation and research as priority for his business sustainability habitually asks himself “what’s coming next?”
“Every three years, we managed to produce several outstanding products with this kind of thinking culture.
“If we stick with just a few types of products, in five years’ time, we will be eliminated as products become irrelevant in a fast-changing world and as technology advances.
“To stay relevant and sustainable, we keep initiating new product development through our R & D department to keep up with world demand,” adds Isa.
“We need to keep afloat in between projects as our business is based on a project to project basis, and our manufacturing of products undertaken on a batch system.
“We overcome this by manufacturing several products for several industries, therefore if something happens to one industry or product, others can still provide us the business to stay afloat.”
Malaysian Technology Development Corporation (MTDC) has been a major contributor to Taiace’s business development.
“In 2009 we were given a CRDF Grant for our product commercialisation. MTDC once again invested in our company through BEF and BGF programmes in order to bring our company to the next level which will enable us to go for IPO listing in 2020 with higher equity value and business achievement,” says Isa.