Airvenco Sdn. Bhd. is a Malaysian company incorporated under the Malaysian companies act as a private limited company on December 14, 1987 with the company registration number 148493-W. The main business of the company is engineering and engineering trading including manufacturing.
Across the last 20 years, Airvenco has financially grown consistently year on year. As at fiscal year ending June 30, 2007, the company has a total shareholders funds in excess of RM15 million, grown from an initial start up capital of RM30,000 and a total cash paid-up of RM75,000. That is, the return on the shareholders’ cash investment is 200 times across 20 years.
Airvenco was set up by a group of Malaysians to take over an existing loss-making business in the supply of heaters and heating system for palm oil mills in this region by a Danish company – Novenco A/S (used to be called Nordisk Ventilators Company) in 1987. While Novenco A/S was the market leader in this field, the Malaysian operation has been losing business for all the years of operation.
With the initial four key shareholders and directors’ active involvement, Airvenco successfully took over Novenco Malaysia’s business, managed to increase the turnover with direct and comprehensive market coverage. The operation was profitable on the first year. With the initial quick success, Novenco A/S then expanded Airvenco’s scope to cover the region, taking over their loss making Singapore operation as well. So, within a year, Airvenco expanded her business of promoting and distributing heaters and heating systems for palm oil mills from Malaysia to Indonesia and to a lesser extent Thailand, plus a few of the existing marine ventilation system sales in Singapore.
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