Its horizontal integration of the supply chain enables full control over the quality of raw materials throughout the production process
Based on its recent analysis of the Malaysian smart waste solutions market, Frost & Sullivan recognizes Heng Hiap Industries Sdn. Bhd with the 2020 Malaysia Smart Waste Solutions Technology Innovation Award. In Malaysia’s fragmented recycling industry, Heng Hiap Industries stands out for manufacturing and customizing superior recycled plastic resins for use in a variety of finished products. With 18 intellectual property patents and one trademark filed, Heng Hiap is tapping into technology innovation to successfully convert plastic scrap into useful upcycled materials.
“Tackling the environmental impact of discarded plastic has long been a critical priority of the waste management industry,” said Viswesh Vancheeshwar, Senior Industry Analyst. “The overwhelmingly positive feedback to Heng Hiap Industries’ recycled plastic is helping it gain a customer base spanning 33 countries. As a fully integrated recycling company in Malaysia, it stands out for its contribution to accelerating the development of the country’s smart waste solutions space that promotes circular economy-based sustainable practices.”
Heng Hiap Industries has introduced a business plan that utilizes a decontamination technology to recycle plastic waste and manufacture ultra-clean recycled plastic raw materials for prospective customers in Malaysia. It has successfully established its own de facto standards, including a streamlined, cohesive supply chain and production process. By horizontally integrating the entire supply chain framework, including collecting, washing, processing, and converting the raw materials into smart waste products, Heng Hiap saves on labor cost by 40 percent and transportation and logistics cost by 60 percent.
Its flagship product, Plashaus, utilizes smart waste technology to produce the plastic-recycled Plashaus resin at a high quality, consistent volume, and competitive price. With the evolution of smart waste technology in Malaysia, it plans to expand to supply raw materials to industries that require ultra-clean, ultra-pure recycled plastics for products including toys, food packing, and textiles.
“Heng Hiap Industries uses patented recycling technology that converts plastic waste to smart plastics that are 50 percent stronger and 20 percent faster in production time than unprocessed plastics in Malaysia, serving customers in the home appliances, automotive, consumer electronics, and building materials sectors,” noted Vancheeshwar. “With its effective and efficient smart waste technologies, the company has set a clear path for advancing the smart plastic industry and countering plastic pollution issues in Malaysia.”
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize 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. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
SOURCE Frost & Sullivan
