(From left) Zhong Yang Technology Co Ltd chief executive officer Lee Jung Chou, FSBM Holdings Bhd managing director Pang Kiew Kun, and Synergies Intelligent Systems Inc CEO Michael Chang. FSBM said the move comes at a time when the fabricated metal products industry in Malaysia represents a significant market opportunity, with the sector contributing approximately RM18 billion to the country’s gross domestic product in 2023, according to the Department of Statistics Malaysia.
KUALA LUMPUR (Jan 21): FSBM Holdings Bhd (KL:FSBM)
The collaboration will see the deployment of HMLV.ai, an advanced customer-to-manufacturer platform designed to enhance traditional supply chains in the Southeast Asian fabricated metal sector.
According to a statement on Tuesday, the HMLV.ai platform uses cutting-edge artificial intelligence (AI) algorithms to address long-standing procurement challenges in the high-mix, low-volume (HMLV) segment of the fabricated metal industry.
The platform offers instant quotes for custom-made metal products, streamlining the procurement process by improving speed and reducing costs, key concerns in the sector.
The initial focus of the platform will be on the fabricated metal industry, but there are plans to expand its application to other key manufacturing segments in the future.
Zhong Yang is an affiliate of Foxconn Global Network Corp, which is known for manufacturing high-precision tools and supplying lenses for Apple products.
FSBM said this affiliation strengthens the platform's potential in meeting demand for high-precision, made-to-order components in industries such as research and development (R&D), new product introduction (NPI), and engineering studies.
HMLV parts, which represent a small yet critical segment of the Malaysian fabricated metal products, are essential for specialised applications, such as R&D and NPI.
With the HMLV.ai platform, FBSM said the group and its partners aim to streamline the procurement process and bring digital solutions to a traditionally fragmented sector.
FSBM further said the move comes at a time when the fabricated metal products industry in Malaysia represents a significant market opportunity, with the sector contributing approximately RM18 billion to the country’s gross domestic product in 2023, according to the Department of Statistics Malaysia.
“By integrating AI solutions into HMLV.ai, we aim to redefine the entire supply chain in the fabricated metal manufacturing industry from upstream to downstream by optimising the part design, procurement, quality and pricing,” FSBM managing director Pang Kiew Kun said in the statement on Tuesday.
“With Malaysia as our hub, we are strategically positioned to support the Southeast Asian market, and this underscores our dedication to driving smart manufacturing and digital transformation as a regional leader,” he added.
FSBM is focusing on developing its IT services segment. Its range of services includes digital solutions and service, such as platform design and development, technical support and maintenance services, cybersecurity services and smart manufacturing solutions.
At the time of writing on Tuesday, FSBM shares were up half a sen or 2% to 25.5 sen, valuing the company at RM131 million.