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Published: Saturday June 28, 2014 MYT 12:00:00 AM
Updated: Saturday June 28, 2014 MYT 8:08:02 AM

Odd business mix bears fruit

by liz lee

Jimmy Lim Choo Hong

SEVEN years ago, Fiamma Holdings Bhd made a bold venture into property developmentdespite it not being synergistic with its core business of distributing home appliances.

Today, however, the group says it is comfortable with its position in both business segments, adding that its property venture has begun to bear fruit for its bottom line.

Fiamma – whose market cap stands at RM256mil – started selling home appliances in 1979 in Johor. Among the household brands it distributes today are Elba, Faber, Tuscani and Braun.

The company acquired two parcels of land in the KL city centre in 2007, but its plans to develop them faced several snags, as it sorted out land title and approval issues.
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