Khind Holdings Bhd, a Middle Eastern-based maker of home and electronic appliances, has received approval from the United Arab Emirates to set up a new company at the Jebel Ali Free Zone in Dubai.
The company said it had recently set up wholly owned Khind Middle East Free Zone Establishment (FZE). The subsidiary is meant to handle the marketing, distribution, and export of all its products in the Middle East.
Group CEO P.K. Cheng said the establishment of a full-fledged operation in Dubai was a significant move for Khind. "Khind has been in the Middle East since 1988. We began with an initial export of U.S. $4,000. In 2004, our Middle East operations contributed over 60 percent of export sales," he said. Export sales contributed 25 percent to 28 percent of Khind's revenue in 2004.
According to Mr. Cheng, with the consolidation of all Middle East export sales into Khind Middle East FZE, Khind is expecting to achieve even greater growth. "It will also allow us to better serve our growing trade customer base and have better on-the-ground knowledge of the markets in the region." (The Star Online)
to Daily News