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This week, i Capital initiates coverage on Feytech Holdings Berhad (“Feytech”), an automotive cover and seat manufacturer who made its Bursa Malaysia debut on 21 May 2024. Founded in Johor Bahru in 2002 by the late Go Yoong Fei and his family partners, Feytech has grown over the past 22 years from its humble beginnings into Malaysia’s third-largest automotive cover manufacturer.

Feytech’s automotive seat division involves the manufacturing and supply of fully assembled seats, including both manual and power-adjustable versions for front and rear ones. The automotive cover division produces both standalone covers —supplied separately from seats and other interior components—and covers sold together with interior parts. For products bundled with interior components, the non-cover parts—such as door trims, steering wheels, gear knobs, handbrake handles, and consoles—are sourced from suppliers appointed by Original Equipment Manufacturers (OEMs) rather than Feytech itself. The company’s automotive covers are primarily genuine or synthetic leather, although various material types are combined to meet the diverse requirements of customers.

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Strategic Advantage of Dual Manufacturing Capability

Initially serving the Replacement Equipment Man