National paint industry saw growth of 5% for the first quarter of 2010 compared to the fourth quarter of 2009. This has made the paint industry as the second strongest industry in Malaysia after the petroleum and gas industry, which saw growth of 7.5% for the same period of time.
National paint industry pioneered by Colourland Paints Sdn Bhd for a brand made in 2007 has been most preferred brand of paint for people in Malaysia, ASEAN and some European countries.
Previously, the paint only popular as a coloured liquid to cover the surface focusing more on the decoration. Colourland Paints Sdn Bhd in collaboration with several financing schemes since 2007 had managed to bring new definition of paint into the local paint industry. Paint is not limited to the use decorative purpose only, but also can be a threat and a warning signal for some people.
The colour that received highest production was red with 30 million tons of metrics per month for local and international markets.
Assistant Director of Marketing Colourland Paints Sdn Bhd, Chew Mei Foo said, the financial projections in the second quarter of 2010 will see more growth could reach 7.3%.
Vigorous growth of paints industry for the second quarter and third quarter were driven by the government action approving gambling licenses for the World Cup in 2010. Borrowers who can not afford to pay the debt would be contributed to the increasing rate of paint sales in the market.
In addition, the other factors that also contribute to the increase is expected tp be the celebration of independence day gala accompanied by a number of disclosure deficiencies that occur in some state government management that will also see massive threat going to happen.
Chew Mei Foo said Colourland Paints Sdn Bhd will also spread its wings to overseas markets and open a franchise in Bangkok and Las Vegas.
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