History of furniture design in Malaysia
Malaysia does not have a very long history of furniture designing. As a new player in the industry, it is common for manufacturers not being able to produce furniture of their own designs. In most cases, buyers would provide the designs to manufacturers with the aim of getting better quality products at cheaper prices so that they themselves may improve their profit margins.
At this point, manufacturers would have no choice as they wish to conclude the deal and as such, would normally oblige with the requested prices as well as better quality. This was the trend in Malaysia and so was it the trend in other newly established furniture producing countries.
With a good infrastructure, ample raw materials, state of the art telecommunication, a well design road, rail, air and sea network, Malaysia with all her attributes quickly grew up the ranks and was more or less bogged down with only these type of orders from all over the world. We were fast to encroach the markets that were traditionally dominated by the Taiwanese manufacturers and when word spread around the buyers, Malaysian manufacturers were soon very much in demand and sought after.
Being inundated with orders and enjoying brisk business, the industry did not realize the need to look to the future when other countries would impact us with what we had inflicted to the Taiwanese over the years. We had perhaps been too relaxed in our own environment that we neglected to prepare to protect ourselves.
Being swamped by orders from buyers for existing designs meant that manufacturers did not have to worry about designs. They only need to learn how to manufacture a sample given to them. This had resulted in contentment among the industry and whilst enjoying their success, they had failed to realize the dangers of their contentment and became dangerously complacent. The main reason why the industry had failed to develop their design capabilities was simply because there was no need to produce any other designs other than those requested by the buyers.
This is where the problem starts. When buyers begin to turn to other furniture supplying countries with orders which were originally destined for Malaysia, our manufacturers soon realized that they had no buyers to produce for and they also had nothing to sell or offer to other buyers.
This situation had then forced them to re strategize using what I call the “R & M method”. “R” stands for “Research” and “M” stands for “Modify”. What do they research and what do they modify ? Research in this sense means our manufacturers would try to look for new designs already exhibited at furniture trade exhibitions around the world, this is the Research part. Next they would come back to Malaysia and try to find ways and means to Modify the design so that it does not bring them any problems when they try to offer the seemingly new product in the international market.
Sadly speaking, the R & M strategy only lasted a short while and soon other foreign manufacturers were quick to realize the threat from allowing Malaysians to visit their exhibition booths. This resulted in the cold shoulder treatment that our manufacturers faced when they try to visit other foreign manufacturer’s exhibition booths.
Then our manufacturers went a step further. This time, when visiting exhibitions, they managed to change identities and even nationalities, and posed as buyers from other Asian countries so that they may be allowed into the booths. It is really sad to know that as a globally recognized furniture producing country, our manufacturers have to go “undercover” in order to develop their businesses. Perhaps not so much now as the “undercover” reputation has been passed to some of our other competitors, but at one point in time, Malaysians were really not welcomed into booths at some international furniture exhibitions.
For a start, we were enjoying so much by producing existing designs for buyers. Some people would term this as an Original Equipment Manufacturing (OEM) arrangement. Going back to our design history, when we realized the orders were not coming our way anymore, we moved on to the 2nd phase where we had adopted the “undercover” concept of R & M. Sadly speaking, that did not work out well either. So you can see why our history of furniture designing has not been really illustrious.
Know all the details about a residential property before you buy. You ought to be sure that you make the right decision about a property by acquiring as much data as possible. Study the info below and enable it to assist you in making your property purchasing experience successful instead of a nightmare. Reading the tips below may help greatly when you are about to make a property purchase especially for upcoming new launches.
Furniture Industry Growth for the past decade
The Malaysian furniture manufacturing and export industry can be said to have enjoyed a brief but illustrious history. From its humble beginnings as a cottage based industry back in the late 70s, the industry started to export only in the mid 80s.
Early records show that our exports were only RM 26 million in 1985 and through the years, we had quickly developed to become a multi billion Ringgit industry. In just 8 short years, we had breached the RM 1 billion mark by recording RM 1.228 billion in 1993. From that point on, the double digit growth experienced by the industry quickly saw us recording RM 2.078 billion in 1995, RM 3.094 billion in 1997 and almost breaking the RM 5 billion mark with RM 4.923 billion in 1999.
The advent of the Malaysian International Furniture Fair or MIFF series in 1995 had also played a pivotal role in shaping the history of Malaysian furniture manufacturing and exports. Having the annual exhibition held in our own backyard meant that Malaysian furniture manufacturers could take advantage of home ground conveniences and cost savings to meet with furniture buyers from all over the world. The popularity of the MIFF grew at the same rate as the popularity of Malaysian furniture demand worldwide and this had worked out very well for our industry.
Getting back to our export history, Malaysia finally breached the RM 5 billion mark with RM 5.597 billion in 2000 but this figure is likely to have been inflated by the depreciation and eventual pegging of the Ringgit against the US Dollar.
In 2001, in line with gloomy global market conditions, our exports dipped by 13.8 % at RM 4.821 billion but only for one year after which we had quickly rebounded to RM 5.238 billion in 2002.
As for 2003, preliminary figures as at August 2003 shows that we had already recorded RM 3.7 billion worth of exports. Projecting this to cover the rest of the year, and considering that the second half of the year is always slightly better, we are anticipating to record in the RM 5.6 – 5.8 billion region.
This means that we can look forward perhaps to surpassing our previous high achieved in 2000. However, these values are still based on the current US Dollar to Ringgit Malaysia conversions.
In the year 1997, Malaysian furniture exports were recorded at RM 3.094 billion or USD 1.238 billion and if we continue to use the rate of RM 2.50 to a USD, the value of exports in 2002 was still only USD 1.378 billion. This means that in USD real terms, we have not really improved as much as we think we did in Ringgit Malaysia terms.
Property and Renovation Mortgage Loan is necessary
Yes, your loan company is going to require a residential property appraisal. However, that’s how the bank figures out if your property is worth the price you paid for it. Apart from that, you might want to bring in your own home inspector. The inspector’s job will probably be highlighting possible issues that can eventually need future repairs that are expensive.
Home & Property Insurance
Pick a residential property in the area that you’d like to live in to provide you with an idea of what you can expect to pay for property insurance. Once you have a few properties in mind, you’ll be in the position to call insurance agents in the city. While you may want to return to that very same insurance agent when you’ve committed to purchasing a specific property, you are under no obligation to do so. Bear in mind that you may end up paying somewhat more or less to insure the property you end up buying than the estimate you received.
Spare funds for Home Loan
You need to always know what you’re getting yourself into when it involves purchasing residential property. You can make money however it can also take more work than you could put in. You may lose money if you’re caught having to pay for repairs and issues. You should certainly keep some reserve funds available for that reason.
For around three to six months before you purchase a residential property, try to avoid moving your money or making any purchases that are large in nature. You should avoid taking any major chances with your credit profile during this time. Lenders want your paper trail to reflect dependability so that they can supply the very best quality loan that they can. Don’t put yourself in a position to need to face tough lean approvals by taking on too much debt, opening new credit lines or buying large cost items.
If you’re a new buyer of residential property, it’s best to go with a professional agent. If you can, attempt to use an exclusive buyer’s agent. Your agent should keep your interests in mind as they help create approaches for handling the bidding process. You need professional advice to avoid blowing money on a poor purchase.
Here Is How You Can Find And Hire The Right Lawyer
Finding the estate law expert best suited to deal with your legal case is simpler than you may think. It ought to not be difficult or worrying to find what you need. The suggestions we’ve provided should make your search easy and fruitful.
Before you employ an estate planning lawyer for Martin Modern Condo Singapore, you should set up an interview with them. Look for key factors like whether or not they are in the position to maintain eye contact, whether they listen and respond well to your queries, what number of questions they ask and whether the kind of knowledge they have is suitable for your circumstances. This can be a clear sign of their commitment and approach to work. If you think that the succession planning attorney is distracted or uninterested when speaking with you, move on to another candidate.
Your lawyer’s commitment is important
Most estate law experts divide their hours among various cases at the same time. Make sure, however, that they put in the effort required on your legal case, no matter whose case is first on their list. You may need to remind your estate planning lawyer to commit enough time to your legal case. If you choose to hire them, be sure to research the legal consultant and his or her background.
No succession planning attorney will be in the position to practice law without possessing a license. When choosing an estate law expert, ensure he or she is licensed in your state. An asset protection attorney’s license to practice law should be hung on the office wall where it’s visible to clients. To gauge their knowledge of the law, ask them specific questions pertaining to it.
Knowledge and experience are important
Should you have a case that requires representation inside the courtroom, be certain that you pick a honorable estate law expert who can represent you using every bit of his experience, skills, and knowledge. If your estate planning lawyer feels that they won’t be able to offer you good enough representation with their particular skills and experience, they may refer you to a colleague. If this happens to you, simply go on and find a new estate law expert for your legal case.
There are estate planning lawyers and organizations that don’t work for the government that provide legal services at no cost, should you be having financial problems but still need quality legal representation. Legal counseling can be provided free of charge to qualified individuals who prove their financial need. There are a few legal advisors who get a kick out of the chance to give free lawful guide to people who are battling fiscally. A few legal counselors will likewise offer to go up against a customer who can’t pay on the off chance that they are offered consent to make use of the client’s case in their publicizing.
Online Business Tips & Tricks
The online business market is one of the fastest growing markets in Malaysia. Over the past decade, online consumers have grown exponentially with about 5 in every 10 Malaysians being involved in online transactions in one way or another. As such, knowing the twists and turns of the online market will give your business an upper hand in many ways.
This segment provides a complete guide to online businesses. Whether you are planning to start an online business or investing in one, this is the perfect place to start. Read about the many online businesses that are running in the market and how they are related to other companies.
You will find step-by-step guides to how to start your own online business and what would be required. This includes the amount of capital required, expertise needed and any other issues that might be of concern so that you can maximize your investment dollar.