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looking elsewhere for growth

by:Marslite     2019-10-12
The audio and lighting agency seeks the region and diversity to reverse the trend that the section begins
Time to work, help earn a little extra cash at the event, and slowly become something Henry Harry Ram is passionate about.
Henry laughed, and of course, it was \"the beginning of the nightmare \".
\"Because we started to buy a lot of equipment.
And the price is not cheap. \"He said.
Henry is our colleague.
Founder and CEO of the audio and lighting agency D8 Group.
He has been in the industry for the past 18 years.
His main job in his early years was to play with sound and lighting equipment and participate in activities.
In 2006, Henry\'s interest in audio-visual equipment changed more seriously. He started a company with some partners to provide equipment rental services for events such as annual dinners and weddings.
\"Then we started to see these international artists taking part in live performances and we thought, why can\'t we get to that level,\" he said . \".
In 2010, he started live to seize the opportunities of the growing live performance industry.
But serving the live performance section is completely different from what they did at the time.
Doing live shows requires them to upgrade and look for better quality equipment.
This also means that more funding is available because most of its equipment is from Europe.
This is certainly a challenge, not only for the D8, but for the industry as a whole, as the local finance Brotherhood is reluctant to offer them loans to buy technical equipment.
The group received early support from European suppliers and financial institutions that provided them with credit services.
However, Henry pointed out that this also means that they have higher financing costs.
\"Compared to the first time we bought these devices, the euro exchange rate has risen by more than 20%.
So it\'s like paying back a loan from the last few years and finding out that the amount you still owe has not really changed before you start paying back the loan.
\"When you look back, sometimes I think it\'s much easier to stick to events like annual dinners and weddings,\" he laughs . \".
\"They didn\'t give you a specific list of all these expensive equipment that must be owned before the bidding event.
But having better equipment gives them a boost.
They began participating in concerts and music events, when the number of people attending concerts and music events was increasing in Malaysia.
They are also members of the panel of experts from Sepang event equipment providers.
The live show was burning but lasted only a few years.
2014, the situation has declined as six people die at future Asian music festivals (FMFA)2014.
The deaths were initially alleged to have been caused by excessive drug use, but were later reported to have been caused by heatstroke.
The event and several other concerts were canceled.
Henry noted that the industry has never fully recovered.
This brought the D8 back to the first square-and they returned to competing for smaller indoor events.
Apart from this time, their equipment is out of the box for the job.
The group currently has audio and lighting equipment in stock worth about 20 million yuan and will bring more in the year.
The brands in stock include L audio, Clay Paky and MA.
It also allowed them to compete with smaller players.
\"This is a very competitive market.
\"DJ can get a basic set of equipment for about RMB, and he can put it in a van to go to the event and do anything by himself,\" Henry said . \".
As a result, profits in the equipment rental market fell sharply.
During its peak period, the group\'s revenue was about RM17mil-RM18mil.
That\'s at 2012-2013 period.
They are lucky to earn a third one these days.
The D8 is seeking more business outside Malaysia to make up for the decline in the local market.
In 2016, it set up a branch in Singapore to better serve the market there, which has been growing by leaps and bounds.
\"Singapore is a growing market, and we have good equipment that suits this market,\" Henry said . \".
At present, overseas income accounts for about 30% of the group\'s turnover.
As other countries open their doors to more entertainment, the group is seeking to explore more opportunities in the ASEAN region this year.
\"We have no choice but to be careful,\" he said . \".
He believes that the D8 enjoys a high reputation in the region, which will enable the group to work with other players from other countries.
He added that the organization will set up an office in Myanmar this year to serve the two
It sees this as an opportunity to educate the market there.
Although there are many opportunities in the ASEAN region, Henry noted that it will also face regulatory obstacles in different countries, including taxing the equipment it brings.
D8 is also looking at the possibility of working with other partners to deliver a full range of services
Stage solutions for regional markets, not just audio and lighting.
This will help diversify the business and reduce the reliance on the equipment rental sector.
\"We will also expand our distribution and installation business.
We are the distributor of Void equipment.
Give us 15%.
We currently earn 20% of our income.
\"We want to grow more in the future because we can serve our existing customer base.
\"So it\'s easier in the team,\" he said . \".
But the D8 will need to develop its network in the region to drive and develop its distribution business.
Henry believes that this will be an important source of revenue for the group in the coming days.
Things don\'t seem very optimistic for the team here, but the team is passionate about what they are doing, and hope to continue doing what they are doing as they dig into the opportunities that the region will offer in the coming years.
\"We have a lot of cooperation with the company, so now we have also given us a stable business,\" Henry said . \".
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