Bangkok--25 Jul--Image Impact AAPICO Hitech PCL today reinforced its commitment to become Asia’s top automotive component manufacturer and car navigation software provider after recently receiving two Frost & Sullivan ASEAN Automotive Awards for Thailand. The commitment was made at the company’s “Roadmap to Excellence” press conference, which was presided over by Deputy Prime Minister and Minister of Industry, HE Suvit Khunkitti, and attended by HE Dato’ Shaarani Ibrahim, Malaysian Ambassador to Thailand. Mr. S. C. Yeap, President & CEO of AAPICO Group, emphasized the Group’s quest in achieving excellence in its manufacturing processes and business operations to realize “a lean and happy organization”. “I believe that to achieve the utmost customer satisfaction, we need to have happy shareholders and happy employees. This means that we need to be able to offer our shareholders a good return on their investment, and in order to do this, we must ensure sustainable growth by effective cost reduction wherever possible, and yet maintain a skilled and cooperative workforce. And, of course, we should not neglect our responsibilities to the community”, explained Mr. Yeap regarding AAPICO’s vision. This philosophical strategy has steered AAPICO on the right track for continual growth. The company recorded aggressive market expansion through the acquisition of KPN, technical alliance with Germany’s Kautex Textron and export expansion of Nissan OEM parts to Spain, Japan, South Africa and Mexico as well as corporate business expansion to China. AAPICO is now exploring the opportunity to expand to India as well. In May 2008, AAPICO signed a joint venture agreement with the world’s leading die and jig maker, Fuji Technica of Japan to further develop its competency and skills in this area. Last month the company exported Renault jigs to Morocco valued at Baht 110 million, and, as a result from a production transplant from Australia, started producing HVAC at AAPICO Plastics with 350 units shipped to Australia daily. AAPICO has also started construction of a new plant at Amata City Industrial Estate in Rayong to produce plastic fuel tanks. Construction of 2 other factories is in the pipeline. At the end of last month, AAPICO Hitech PCL received the Frost & Sullivan Award for Automotive Component Manufacturer of the Year while its subsidiary, Able ITS Co., Ltd. won the Award for Most Promising Car Navigation Software Company of the Year. “We were delighted to have won these prestigious awards from Frost & Sullivan, especially since the selection criteria were very stringent. They are testaments of our employees’ dedication, hard work and shared vision of excellence in all we do and produce”, commented Mr. Yeap. The Frost & Sullivan ASEAN Automotive Awards are presented to companies in recognition of their outstanding contribution to their country’s automotive industries as well as their achievement of a competitive or customer-based position of excellence in the market Able ITS Co., Ltd. received the Award for the Most Promising Car Navigation Company of the Year in Thailand as a result of its ‘Powermap’ software. The company joined hands with world-class digital map provider, Navteq, and Maction Tech, an experienced Taiwanese navigation software technology company, to produce a unique user-friendly car navigation system for the whole of Thailand in Thai and English. “This has been my dream project ever since I saw how beneficial the car navigation was in Japan in helping provide traffic jam solutions and saving fuel as it provides you with the shortest distance to any destination”, Mr. Yeap revealed. The company also has capabilities to tailor its map data and application interface and algorithm to match specific customers’ requirements, and is planning to further develop its navigation map to cover Southeast Asian countries and beyond in the near future. HE Suvit Khunkitti, Minister of Industry, commented, “The achievements of AAPICO Hitech and Able ITS underline the capabilities and skills of Thailand’s workforce, which demonstrate that Thais are second to none when they receive proper training, motivation and guidance by a strong and professional management. These awards bring pride not only to AAPICO Hitech and Able ITS, but also to Thailand and the Thai people”. The total revenue for the first quarter stands at Baht 2,354 million and Baht 2,361 million for 2007 and 2008, respectively. For the same period the Group has achieved an outstanding net profit increase of 36.7% in 2008 or Baht 145 million compared to Baht 106 million last year. The Group’s forecasted total revenue for 2008 is Baht 11.2 billion, representing an increase of 15% year-on-year. About AAPICO Hitech PCL AAPICO Hitech PCL. is one of the country’s leading automotive jig and die designers and manufacturers as well as OEM parts producers, having business operations in Thailand, Malaysia and China. It is a first-tier supplier to Nissan, AAT, Toyota, Honda, Isuzu, General Motors and other major auto brands, and its reputation for producing high-quality products is supported by accreditation of both the TS 16949 and ISO 14001. AAPICO Hitech made history as the first Thai-Malaysian automotive parts company when it was listed on the Stock Exchange of Thailand in October 2002. For more information about AAPICO Hitech, please visit http://www.aapico.com About Able ITS Co., Ltd. Established in 2004, Able ITS has invested over Baht 100 million for R&D to develop digital map data. The company introduced Thailand’s first car navigation system with Thai language interface into the market in 2005. In 2006, to further improve its navigation software, Able ITS collaborated with 2 strategic partners namely Navteq (acquired by Nokia in November 2007) to enhance its competency in Field Data Collection and digital base map compilation, and Maction Tech of Taiwan for navigation application localization and customization expertise. Able ITS presently bundles its Thai car navigation software under the brand name of ‘Powermap’ through major hardware importers such as Wireless Device Supply, Allied Digits, TWZ Corporation PCL, Samart-imobile, D Plus Intertrade, World Tech to name but a few. For more information about Able ITS and ‘Powermap’, please visit http://www.powermap.in.th For further information, please contact: AAPICO Hitech PCL Tel: +66 (0) 35 350 880 Joe H. P. Goh Ext. 103 E-mail: [email protected] or [email protected] Able ITS Co., Ltd. Tel: +66 (0) 35 350880 Pichakorn Pimonsathian Ext. 419 E-mail: [email protected] Image Impact Ltd. Tel: +66 (0) 2357 1180 - 3 Chutinun Guna-Tilaka Ext. 108 E-mail: [email protected] Suchada Termtechatipong Ext. 111 E-mail: [email protected]