For those not already aware:
JINJIANG, China, Nov. 26, 2019 /PRNewswire/ -- China Ceramics Co., Ltd. (NASDAQ Capital Market: CCCL) ("China Ceramics" or the "Company"), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced that the Company has entered into a non-binding letter of intent with a Malaysian contractor for the Company's ceramic tiles including its new 'cooling' ceramic tiles that it introduced in August of 2019. The Malaysian contractor intends to use the Company's ceramic tile products for use in high rise apartment buildings in the third quarter of 2020.
"This is an important step to increasing our exports to Southeast Asia due to the rapid rise in construction in the region and its climate conditions which make it an ideal fit for many of our ceramic tile products. Provided that the market demand and related conditions are in place, we plan upon substantially increasing our exports to this region," said Ms. Meishuang Huang, Chief Executive Officer of China Ceramics. "China Ceramics continues to deploy innovation and competitive pricing to secure new business. We believe that our new products will help us to enter new markets and ultimately diversify our revenue stream while contributing to our future growth."
The Company's anticipated entry into Malaysia is the first step of an expansion effort into Southeast Asia that is intended to capitalize upon the increased level of the region's new building construction which is due in part to China's Belt and Road Initiative. The Company foresees this as an opportunity to utilize its currently unused production capacity as it enters a dynamic regional market with an estimated population of 660 million people. The Company's Chief Executive Officer, Ms. Huang Meishuang, will oversee the execution of this planned expansion.
The Company plans to introduce specialized products into the Southeast Asia market that are suitable for the region due its generally warm climate, including the Company's recently announced new 'cooling' ceramic tiles. This building product is a new type of exterior ceramic tile designed to cool indoor temperatures of buildings. The new cooling ceramic tile series is designed as a stone pattern with a look of natural décor and luxury with richer patterns than organic stone materials. The Company is in the final stages of testing the new product and receiving its certification.
"Prediction is very difficult, especially if it's about the future."
