USP Group Signs Two Agreements To Build High Performance Boats
Mainboard-listed, USP Group Limited, a diverse business group, announced that it had signed a Teaming Agreement (TA) with Harbin Engineering University Ship Equipment & Technology (“HEU Ship Tech”). The objective of the TA is to enable USP to tap into the expertise of HEU Ship Tech to build high performance boats for its customers.
HEU Ship Tech was founded by Harbin Engineering University in July 2009. This is supported by the University’s expertise and technology in naval architecture and maritime engineering which enables it to design and develop high performance ships. HEU Ship Tech also designs ship interiors, digitization of marine equipment and engineering services.
In addition, USP has also signed another Agreement with Maxthon Yachts based in Guangdong. Maxthon Yachts has been producing affordable and quality yachts for the Chinese market for 20 years. All Maxthon yachts are designed by United Kingdom based Dixon Yacht Design.
Mr Li Hua, Executive Chairman & Chief Executive Officer of USP Group Ltd, said: “Our subsidiary, Supratechnic is the sole distributor for “Mercury’s” outboard motors for Singapore, Malaysia, Indonesia and Brunei. Instead of just supplying the parts to the boats, we plan to scale up our operations to include boat building as well. The signing of these two Agreements is significant to our vision for the USP Group. By tapping into the expertise of these two entities, this will enable us to undertake the whole end-to-end supply chain of selling high performance boats to our customers as well.”
“Supratechnic’s appointment as the sole distributor for “Mercury’s” outboard motors only commenced in January 2017 and we effectively started selling in April 2017. I am pleased to note that for the 6 months from April to September 2017, we have recorded sales of S$13.8 million for Mercury products. Hopefully, by supplying the high performance boats as well as the parts and outboard motors, this will help to position USP as a one-stop shop for this region,” added Mr Li.