From Family Business to Industry Leader: Feytech’s 22 Years

From cabin crew to automotive CEO. In this episode of Open For Business, we dive into the remarkable journey of Feytech Holdings, a Malaysian automotive accessories manufacturer that has grown from producing small-scale leather seat covers to supplying complete car seats for global OEMs.

CEO Connie Go, who took the company public earlier this year with a successful RM114 million IPO on Bursa Malaysia’s Main Market, joins us to share how this family business has transformed over the last 20 years into a vertically integrated, one-stop solution for automotive interiors.

Connie has been nominated for the EY Entrepreneur of the Year 2024 Malaysia Awards in the Woman Entrepreneur category.

Key insights include:

- Feytech’s Evolution: From a replacement equipment manufacturer to a Tier 1 OEM supplier with full car seat manufacturing capabilities.

- Vertical Integration: As the only Malaysian automotive supplier offering both seat covers and car seats, Feytech stands out in cost efficiency and convenience.

- Growth Strategy Post-IPO: How IPO proceeds will fund expansion, a new corporate office, potential M&A, and market entry into Malaysia’s central region.

- Competitive Advantage: The unique benefits of vertical integration, cost control, and quality standards that attract OEM partnerships, particularly for CKD projects.

- Connie’s Path to Leadership: From 15 years as a cabin crew member to CEO, using skills from aviation to drive Feytech’s business.

- Navigating Public Company Challenges: Adapting corporate governance and transparency for public markets, with advice for entrepreneurs considering IPOs.

- Future Expansion: Ambitions to diversify into additional automotive parts, secure new OEM projects, and maintain profitability in a competitive landscape.

- Women in Leadership: Connie’s perspective on breaking gender stereotypes in manufacturing and her hopes for a future with fewer industry barriers.