NewswireToday - /newswire/ -
Kuala Lumpur, Malaysia, 2007/06/01 - Frost & Sullivan, a global growth consulting company will honor the best companies in the ASEAN automotive industry at an awards banquet on Thursday, June 28, at the Mandarin Oriental Hotel, Kuala Lumpur.
The Frost & Sullivan 2007 ASEAN Automotive Awards will be officiated by Yang Berhormat Dato’ Seri Rafidah Aziz, Minister of International Trade & Industry, Malaysia.
Mr. Kavan Mukhtyar, Partner and Head of the Automotive & Transportation Practice, Asia Pacific at Frost & Sullivan said the award recipients will be identified based on an in-depth research conducted by Frost & Sullivan analysts and consultants.
Frost & Sullivan honors and recognizes companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development.
“The benefit of receiving a Frost & Sullivan award is the unbiased, third party recognition from a reputable global growth consulting company. We are recognizing best practices by various companies in the industry,” Mr. Mukhtyar says.
He observes that the automotive industry is currently facing some challenges due to rising costs and increased competition but Frost & Sullivan remains optimistic on the growth prospects of the industry.
“This is the time for automotive companies to pause and reflect on their current business strategies, “he says. He advises companies to increase their brand awareness, strive to meet customer needs and develop a strong distribution network to be different.
“Automakers which strive for excellence and differentiate itself from the average companies in tough times will be able to stay ahead of the race once the automotive industry recovers fully,” he adds.
The regional automotive awards ceremony will likely see the convergence of about 150 top automotive executives from around the region. “It’s a night of celebration of the best in the automotive industry,” Mr. Mukhtyar says.
The nominees are evaluated on a variety of actual market performance indicators which include revenue growth; market share and growth in market share; leadership in product innovation; marketing strategy and business development strategy.
Award categories include best model, safety systems, commercial vehicles, automotive component, automotive distribution, automotive finance and navigation.
A team of highly qualified analysts and consultants at Frost & Sullivan are involved in the short listing, evaluation and research process, applying the same thorough approach that has been the hallmark of Frost & Sullivan globally.
Malaysian Automotive Association, Malaysia External Trade Development Corp and Singapore Precision Engineering & Tools Association are the supporting organizations for the event.
Media partners include Autocar ASEAN, Business Today, ASEAN Autobiz, Auto Focus Asia and Gramedia Majalah group.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.