KUALA LUMPUR – PETRA Group has invested RM45 million to set up its furniture arm PETRA Mobilia, which owns brands such as Rize and Sofaitalia, and manufacturing facilities.
PETRA Mobilia is also a shareholder of the Sofa Bed Company, registered in Malaysia, that has the agreement to supply sofa beds and recliners to Tempur Sealy International, said PETRA Group in a statement today.
PETRA Mobilia owns the Rize brand that specialises in medically designed therapeutic lift chairs for those with mobility issues.
In a statement, PETRA Mobilia chief executive Abbi Kanthasamy said: “What distinguishes us from other local furniture manufacturers are our intellectual patents and international brands. We are proud to be a Malaysian-owned company that uses technology and innovation to create high-value products that can compete on the global stage.
“By using innovation and design, we have been able to increase our margins and create high-value jobs for the local workforce. Hopefully, this will set a trend for other local manufacturers to innovate and capture a larger share of the global furniture business.”
Kanthasamy added that he looked forward to working closely with PETRA Group chairman and chief executive Datuk (Dr) Vinod Sekhar, allowing PETRA Mobilia to not only expand its global presence but also leverage on the group’s other businesses.
“We see synergies with Green Rubber to provide its revolutionary recycled rubber for our furniture products, and to partner with PETRA Modular, a global manufacturer of modular high-quality homes in future.
“More importantly, Datuk Vinod’s vision of social capitalism and ensuring all PETRA’s businesses support solutions for socio-economic issues, is compelling. It is critical for society as a whole and all companies to embrace this thinking.”
PETRA Mobilia is expecting an annual turnover of RM1 billion across the next three years. – The Vibes, May 10, 2021
