CUCKOO International (MAL) Sdn Bhd, a Healthy Home Creator, today inked a Memorandum of Agreement (MoA) with homegrown air-conditioning manufacturer Fujiaire Global Sdn Bhd, introducing the new CUCKOO Vita-S Inverter Smart Air Conditioner for healthy living.
The strategic partnership with Fujiaire also allows CUCKOO International to expand its fourth Healthy Home pillar, Healthy Living. CUCKOO International is known for introducing the well-established South Korean Home Appliance brand to Malaysians.
The company diversified and grew to be a Healthy Home Creator and improve the quality of living through Beyond Standards products and services. Since its inception in 2014, it has provided healthier solutions to over 1.4 million homes and 4.7 million households.
CUCKOO International’s business is supported by four strategic pillars namely Healthy Appliances and Healthy Living pillars with the CUCKOO brand, Healthy Lifestyle pillar with the WonderLab brand, and Healthy Home Care pillar with the WonderKlean brand.
According to CUCKOO International founder and CEO Hoe Kian Choon, each of these pillars focuses on different aspects of creating a healthier home through a diverse and holistic range of products and services.
Hoe said the new CUCKOO Vita-S Inverter Smart Air Conditioner is set to turn Malaysian homes cooler and healthier by infusing Vitamin C into the air to moisturise the skin and enhance immunity. It will also release silver ions into the air, destroying bacterial cell membranes at a very low concentration.
“Staying true to our philosophy of Beyond Standards, CUCKOO International has supported over 4.7 million household users through a diverse range of healthy home offerings. We are thrilled with this strategic partnership with Fujiaire as it will further allow both parties to continue innovating and providing a future-forward technology that would raise the quality of life among Malaysians,” Hoe said after the signing of the MoA today.
Hoe said this strategic partnership will see both parties leveraging the expertise of each other in the development of the air-conditioning system and is projected to bring in over RM40.7 million in revenue under the Healthy Living pillar in the next year.
He added that CUCKOO International targets to provide over 66,000 Malaysians in the next year with cleaner and cooler air.
Better performance moving forward
CUCKOO International is poised to achieve higher revenue and profit after tax (PAT) in the financial year ending December 31, 2022. The company achieved RM185.5 million in PAT for the fiscal year 2021, delivering its seventh consecutive year of topline growth amidst a challenging market backdrop with a 44 per cent year-over-year increase from 2020.
Its revenue for the year 2021 was RM1.13 billion, largely driven by positive growth and key product launches in the same year. Commenting on the company’s performance for the year 2021, Hoe said the strong end of the year, which included record-setting revenue growth, is propelled by the strong demand of Malaysians wanting a healthier lifestyle.
To meet this demand, CUCKOO International developed various subscription plans under the GOOODPLANTM to provide customers with a variety of affordable payment options that enabled a low barrier to entry.
“In fact, more than 90 per cent of our customers subscribed to rental-based services, which has further accelerated our business momentum and growth across the country,” he said.
CUCKOO International is optimistic about its 2022 prospects with solid business strategies in the pipeline to create more healthy home solutions for Malaysians to live healthier and happier.
“Our solid financial achievements in the past year are a testament to our unwavering commitment to delivering sustainable growth at scale with continued momentum across each business pillar. Moreover, the introduction of various innovative healthy home solutions at the peak of the pandemic, had showcased the company’s remarkable resilience and its ability to understand customers’ demand for healthier living during these unprecedented times,” said Hoe.
