Ispire Malaysia Attains ISO Certification, Avoiding 25% Transportation Tariffs

Business by 2FIRSTS.ai

Jan.05.2024

Ispire Malaysia Attains ISO Certification, Avoiding 25% Transportation Tariffs

Ispire Malaysia obtains ISO certifications, CEO Michael Wang says having its own factory will increase profit margins.

According to an announcement on the official website of Ispire on January 4th, the company has declared that its Malaysian subsidiary, Ispire Malaysia Sdn Bhd, has successfully obtained certifications for ISO9001:2015 Quality Management System, ISO14001:2015 Environmental Management System, and ISO13485:2016 Medical Device Quality Management System for its manufacturing facility in Malaysia.

Michael Wang, the CEO of the company, stated that having our own factory will allow us to achieve greater profits in product assembly. Furthermore, the products produced by our company in Malaysia and shipped to the United States are not affected by tariffs, which creates favorable conditions for increasing gross profit margins.

Michael Wang stated, "We have received our initial orders and are rapidly entering the production preparation phase. By establishing production facilities in Malaysia, we not only avoid the 25% tariffs incurred from shipping from China, but also improve our gross profit margin."

In order to reduce tariff costs, it is predicted that Ispire will further shift its production processes to Malaysia.

References:

[1] 雾麻科技马来西亚制造设施获ISO认证

Also Read:

[1] E-cig Export Data from China to Malaysia, November 2023

[2] Apology for Exclusion: Public Health Tobacco Control Act 2023

[3] Malaysian Parliament Passes 2023 Public Health Control of Smoking Products Act

#Asia #Market #Regulation #Malaysia

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