Kanger’s investment in a commercial building in Guanzhou to start end-2016 - See more at: http://www.iproperty.com.my/news/9986/kanger-s-investment-in-a-commercial-building-in-guanzhou-to-start-end-20
Date：2015/03/30
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KUALA LUMPUR: Furniture manufacturer Kanger International Bhd's investment in a proposed commercial building in Ganzhou, China is targeted to start at the end of 2016.
The project’s gross development value (GDV) is estimated at 50 million renminbi or about RM29.66 million
"The proposed commercial building is not necessarily a hotel. A third party will rent the commercial building and it is up to them to run it. It will be developed for one and a half years," said Kanger managing director Leng Xingmin after its extraordinary general meeting (EGM) here on 27 March.
Kanger will be launching bamboo furniture to at least 50 high-end bamboo flooring stores in China by end of this year.
"This year, Kanger will also be launching bamboo furniture such as tables, chairs, bookshelves as well as outdoor furniture and we target to commercially produce probably in the second half of this year. We will sell through the down-wire franchise specialty store as well as hotels because bamboo furniture is considered green furniture," Leng added.
Kanger currently has 30 down-wire franchised specialty stores in China owned by locals which will be increased to 50 stores by the end of this year.
The company is also looking for opportunities to open bamboo specialty stores in Malaysia with furniture made from local bamboo.
The outlook of the bamboo flooring market in China is projected to be positive as the market is expected to grow from 2013 to 2017, likely due to domestic and international demand, he said.
Kanger specialises in the manufacturing and trading of bamboo and trading of bamboo flooring and related products for the residential and commercial markets under its 'Kanger' and 'KAR Masterpiece' brands.