Newly increasing export earning of 100 million USD
Phase II Project of D&Y Textile (Malaysia) Sdn. Bhd. was officially put into operation
Jul 18, 2018 ｜ by
On May 28th, 2018, Phase II Project of D&Y Textile (Malaysia) Sdn. Bhd. officially held a ceremony to put into operation, many leaders and guests attended the ceremony to put into operation, including Pan Weisi, Chairman and Executive Councillor of Johor International Trade, Investment and Utilities Commission, Shi Ziming, Commercial Counsellor of the Chinese Embassy in Malaysia, Sun Ruizhe, President of China National Textile and Apparel Council, Zhu Beina, President of China Cotton Textile Association, Liu Haitao, President and Deputy Secretary of CPC of CHTC, Ye Maoxin, Vice President of CHTC and General Manager and Secretary of the Party Committee of China Textile Machinery Group, and Zhao Huanchen, President of D&Y Group.
D&Y Group is a large comprehensive enterprise that integrates spinning, weaving, clothing, imports and exports, transnational production and management, and it is also among the top 20 enterprises in China’s cotton textile industry with the annual sales revenue of 3.5 billion yuan and the total volume of imports and exports of 300 million US dollars. Faced with the trend of economic globalization and regional integration, D&Y Group continues to increase its strength of international operations in accordance with China’s The Belt and Road Initiative. As early as 1999, D&Y Group set up D&Y Lanka Apparel (pav) Ltd. in Sri Lanka, which became China’s clothing project with the largest investment volume in Sri Lanka; in 2007, it established D&Y U.S. Trade Co., Ltd. in the United States and realized the independent brand sales of “Renoir” in the U.S. market.
Based on Malaysia’s fairly good investment environment and unique resource advantages, with a total investment of 400 million US dollars, it has invested in the construction of a 500,000 spindle special yarn project in Malaysia in three phases, making every effort to build a world-class modern textile industrial park. In the first phase, a 100,000 spindle project was started in March 2014 and completed and put into production in May 2015. Due to accurate positioning, fast construction and good operation, the project achieved profits in the current year when it was put into operation and achieved fairly good economic and social benefits.
On the basis of good operation in the first phase, the 120,000 spindle project in the second phase started construction in early 2017, and was put into production and reached design capacity today after more than a year of plant construction and installation and commissioning. The second-phase project, based on high starting point, high grade and high standards, introduces the world’s most advanced textile equipment and produces top-grade yarns with world-class quality, creating 500 new jobs and increasing the sales revenue of 100 million US dollars every year.
It is learned that the complete set of cotton spinning equipment for the second-phase project of D&Y Textile (Malaysia) Sdn. Bhd. all adopts the equipment of CHTC at this time. CHTC has been united with D&Y Group all the time and worked together for the Belt and Road Initiative.
Zhao Huanchen expressed at the commissioning ceremony that during the construction of Phase-I and Phase-II projects of D&Y Textile (Malaysia) Sdn. Bhd., Malaysian Government, Ministry of Trade and Industry, Investment Committee, Johor Government, Local Industrial Parks, Various Major Financial Institutions, CHTC and other related departments and units provided fairly good preferential policies and offered vigorous support and help; Chinese Embassy in Malaysia, Commercial and Economic Counsellors Office, Department of Commerce of Shandong Province, Tai’an Government and other departments actively gave guidance and help in the construction of the project, creating favorable conditions for the successful completion and production of the project.
With the comprehensive advance of the Belt and Road Initiative in China, it will bring greater opportunities for the economic cooperation and development of China and Malaysia. Looking into the development prospect of D&Y Textile (Malaysia) Sdn. Bhd., D&Y is confident to achieve greater development and create outstanding achievements. D&Y Group will comprehensively strengthen the company’s operation and management, fully rely on D&Y Group’s mature spinning production technology and management experience and make full use of Malaysia’s various advantages of resources so as to make its product quality and comprehensive competitive advantages more prominent. In the next step, it will also elaborately organize the planning and construction of the Phase-III project of D&Y Textile (Malaysia) Sdn. Bhd. so that the Phase-III project can be put into production and reach design capacity as soon as possible. By then, the total production scale of D&Y Textile (Malaysia) Sdn. Bhd. will reach 500,000 spindles, and the annual sales revenue will reach 400 million US dollars.
Liu Haitao remarked that the commencement of production of 120,000 spindles in the Phase-II project of D&Y Textile (Malaysia) Sdn. Bhd. is not merely another important achievement for D&Y Group to develop into an international large group, but another tangible measure for both sides to thoroughly implement the state’s Belt and Road Initiative, and the common glory of Chinese textile practitioners even more. D&Y Group has gone through a course of thirty years, and currently it has developed into a large and comprehensive international enterprise group, enjoying a very high reputation and status in the industry. CHTC is the only super-large central enterprise with textile equipment as the core in China. The comprehensive strength of its textile machinerys ranks the country’s first and the world’s leading place, its business scale is the largest in the world, and at the same time, it is a comprehensive transnational enterprise group with powerful strength in the fields of textile trade, new fiber materials, commercial automobiles and engineering machinery, financial investment, cultural industry, etc.
The cooperation between CHTC and D&Y Group has a history of more than 20 years. Over the years, the two sides have been adhering to the concept of “complementing each other’s advantages and achieving win-win results”, their respective developments have made remarkable achievements, and the cooperation between the two sides has also continued to go deeper. The 120,000 spindles in the Phase-II project of D&Y Textile (Malaysia) Sdn. Bhd. this time reflects a new stage of cooperation between the two sides. The project not only conforms to the national Belt and Road Initiative, but fully tallies with the future development strategy of CHTC. It is committed to building this area into an overseas demonstration base, an overseas service center and a spare parts center for CHTC’s complete set of equipment of new cotton spinning. CHTC will as always continue to care about and support D&Y Group and the development of cooperation projects between the two sides, and face future development and cooperation in a more open, pragmatic and innovative manner.
Sun Ruizhe delivered a speech at the commissioning ceremony. He stated that at present, global economy has entered a new normal, and all countries are seeking changes and adjustments. These changes and adjustments will bring new market opportunities for the development of the global textile industry, and also play a big role in strengthening the coordinated development of the global textile industry. Currently, the Chinese government is deeply pushing forward the national Belt and Road Initiative, speeding up the “going global” of China’s major equipment and superior capacity, deepening the mutually beneficial cooperation and common development of China and the countries concerned. The core of China’s cooperation in promoting international production capacity and equipment manufacturing is to enhance the previous product trade and product output to a new level of industrial output and capacity output through cooperation, and then improve the quality and level of international industry cooperation. After years of development, China’s textile industry has formed a complete industrial system which is complete in range and has a fairly high technical level, the total amount of its fiber processing accounts for 56% of the world, and its export makes up 36% of the total amount of textile and clothing trade. At present, China’s textile industry is in a period of strategic adjustment of transformation and upgrading, China National Textile and Apparel Council encourages key and backbone textile enterprises to speed up the pace of “going global” and invest overseas in the construction of textile raw materials bases, processing bases, research and development centers and the expansion of marketing channels, and maintain the competitiveness of enterprises themselves and promote the adjustment of industrial structure of the invested countries through transnational resources allocation.
D&Y Group is among the industry’s top 20 cotton textile enterprises in China, it is both a national development base of textile products and an enterprise that implements internationalization strategies relatively early, and it has been at the forefront of the industry in terms of technological innovation, management innovation and brand innovation, etc. The construction of the Phase-I and Phase-II projects of D&Y Textile (Malaysia) Sdn. Bhd. has received vigorous support and help of Ministry of Industry and Trade of Malaysia Government, Investment Committee, Johor Government, Sedenak Industrial Zone, Chinese Embassy in Malaysia and various financial institutions. The launch of the project this time will also effectively drive the export of China’s textile machinery equipment, and play a positive role in boosting the “going global” of China’s textile machinery industry. He hopes that D&Y Textile (Malaysia) Sdn. Bhd. can create better economic and social benefits, and contribute to the economic cooperation and common prosperity of China and Malaysia.
Shi Ziming, Commercial Counsellor of the Chinese Embassy in Malaysia, said in an interview that China maintained the status of Malaysia’s largest trading partner for 8 consecutive years, and that Malaysia was China’s seventh largest trading partner and country of origin in the world. With the the deepening of the Belt and Road Initiative and international capacity cooperation, the economic and trade cooperation between China and Malaysia has achieved fruitful results, taking on all-round, wide-ranging and large-scale features. Chinese Embassy in Malaysia and Commercial and Economic Counsellors Office, as the economic and commercial representative offices of the Chinese Government in Malaysia, take promoting the development of economic and trade relations between China and Malaysia as its own duty, and are dedicated to setting up a platform for exchanges and cooperation between the business communities of the two countries, expanding practical cooperation in various fields, and actively pushing forward the economic and trade relations between the two countries to a deeper layer, a higher level and a wider range of fields. The construction of the Phase-I and Phase-II projects of D&Y Textile (Malaysia) Sdn. Bhd. has received vigorous support and help of Ministry of Industry and Trade of Malaysia Government, Investment Committee, Johor Government, Sedenak Industrial Zone and various financial institutions. She hopes that D&Y Group can work closely with the local government and people to strengthen its management and strive to build a world-class modern textile industrial park, contribute new strength for the local economic development, stimulate more Chinese enterprises to invest in building factories in Malaysia, and make new and greater contributions to promoting the in-depth development of economic and trade relations between China and Malaysia.
After the commissioning ceremony, the leaders at the meeting and representatives from all walks of life visited the Phase-II production workshop of D&Y Textile (Malaysia) Sdn. Bhd.
