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WESTPEACE HORIZONS

Peaceful Mind Peaceful Life

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY

Established in 2018, Westpeace is a joint venture between Xi’an Westpeace Fire Technologies (“Xi’an”) and local entrepreneurs to bring to the Malaysian market the latest in firefighting technologies. Xi’an is a leading manufacturer of firefighting products in China and have filed 253 patents globally, including US, Europe and Malaysia. Over the last 3 years, Westpeace has been working diligently with the local authorities to certify and approve of the cutting-edge technology to ensure local standards and requirements are met. Now, Westpeace is ready to introduce our products earnestly to the Malaysian market.

PROBLEM

Fires are uncontrollable and fast to engulf if not ‘nipped in the bud’ or contained adequately. Around the world, fires have cause insurmountable damage to properties, livelihoods and the environment not to mention the human cost too. Here is some help to understand the different type of fires:

Over the recent years, Malaysia is experiencing an increased number of fire incidences. This fact coupled with the growing number of fire risks and electronics means traditional firefighting equipment, such as dry powder ABC extinguishers that have been around since the early 19th Century, need to innovate to cater to the newer fire classes that have emerged.

A total of 50,720 fire incidents was recorded in 2019, increased by 24.1 per cent as compared to 2015. Among the main causes that contributed to the fire incidents in Malaysia were deliberately set fire (good intentions) with 2,296 cases and electricity (1,234 cases). The highest number of fire incidents was recorded in Johor with 8,354 followed by Selangor (8,234) and Perak (4,615).

source: DOSM

In 2016, blazes in residential properties (landed, high-rise, squatter and long house / traditional house) dominated the statistics, at 3,308 cases or 60.3%, followed by shop lots (528 or 9.6%) and stores (323 or 5.8%).

The top causes of residential fires were electrical, cooking gas and unknown causes.

source: theedgemarkets

According to Datuk Mohammad Hamdan Wahid, director-general of the Fire and Rescue Department, only two million out of eight million residences have fire insurance. This is despite an estimated MYR3.31 billion (US$790 million) in property losses caused by 6,301 fire incidents last year 2019.

source: insurancebusinessmag.com

PRODUCT / SOLUTION

Here at Westpeace Horizons we are proud to introduce our brand-new firefighting assistant, essential for your home, car, and portable enough to have on person at all times. The Nanex is an internationally recognised solution for extinguishing all classes of fires.

What makes our solution different from those in the market right now? The Nanex uses two cutting edge technologies: Nano particles and Solid-State Aerosol. The Nano compound allows our chemical mix to cover larger surface areas meaning our 480g JE-50 can extinguish a fire that a conventional 1kg extinguisher could. Solid-State Aerosol is a stable non-pressurised delivery method that allows owners to store safely in places of high fluctuating temperatures, such as in the cabin of your car or next to your kitchen stove.

To understand fire extinguishing methods, we first need to look at the fire triangle to understand which components need to be removed to starve the flame of its ability to grow and continue burning. The traditional or conventional method is to suppress oxygen supply which is the primary focus of ABC, CO2 and Foam based extinguishers. Water based extinguishers and sprinkler systems target the fuel source making them redundant and incombustible. Our Nanex JE-50 takes a more innovative approach by targeting the heat. By doing so, our extinguisher ensures it is safe to use in occupied spaces and prevents immediate reignition scenarios. Furthermore, the compounds within the extinguisher since they are nano particles, leave little to no harmful residue and are tested to be safe for areas with electronics i.e., wires or computer components.

To top all of these off, our extinguisher has an easy three step deployment method that allows for multi-generational usage. With no annual maintenance and a 5-year operational shelf life, our Nanex JE-50 is ideal for your peace of mind.

Finally, the Nanex JE-50 is patented in over 24 nations worldwide and certified by the following international and local institutions:

TRACTION

Westpeace has set up distribution channels in Penang, Perak, Negri Sembilan and Klang Valley with hopes to expand into every state in Malaysia. Through these strategic distribution channels, Westpeace is able to tackle residential and industrial sectors for our firefighting solutions.

Though early days, over 1000+ units of the Nanex JE-50 have been sold and Westpeace is looking into bringing in greater stock volumes to handle the rising demand.

CUSTOMERS

Westpeace is targeting all residential and industrial customers to introduce our systems to solve their fire-protection requirements.

For Residential clients, our extinguisher provides a unique market product which allows for easy storage and usage in early emergency situations. Highly recommended that owners have one Nanex JE-50 on hand in the kitchen and one in their motor vehicle. The extinguisher’s sleek design means it can slip into a side pocket or glove compartment without taking up too much space.

For Industrial clients, instead of lugging around a heavy 3kg fire extinguisher or running back to a wall bracket with one and potentially allowing a fire to grow to an uncontrollable state, our Nanex JE-50 can be attached to the belts of security personnel or fire wardens to allow rapid response to accidents and emergencies. Along side this, Westpeace will be introducing our Fixed Series solutions which will allow customers to modularly protect assets with minimum infrastructure investment.

BUSINESS MODEL

Westpeace Horizons will be acting as importer and distributor to the Malaysian market. Through engaging with strategic partnerships and dealerships, we are targeting to have a retail and industrial player in every state in Malaysia. Currently we have signed with eight partners covering Klang Valley, Negeri Sembilan, Perak, Penang and online markets with many potential partnerships in the pipeline.

Westpeace Horizons is holder of the local patents and certifications to allow the fire extinguishing equipment to be sold in Malaysia. As stated earlier, Westpeace will also undertake to boost and advertise the brand through online and offline means.

MARKETS

Westpeace Horizons sees two markets that can be tapped with the Nanex product: industrial clients and retail markets. Given the growing awareness of the current market to live and operate in safe conditions along with the growing reliance on electrical instruments for everyday usage, the risk of fires have grown exponentially over the years.

Industrial: Given the compact nature and versatility of the Nanex product, businesses from SMEs to factories see advantages to having a Nanex on hand to tackle early fires. Given its lightweight container, it is significant more mobile than existing extinguishers in the market. With no maintenance required for 5 years the Nanex can be relied on to tackle the problem head on and early before it becomes uncontainable.

Retail: Similar to the industrial market, Nanex’s compactness is ideal for home and car owners alike as it is safe and stable under high temperatures. Its non-pressurised composition allows owners the peace of mind that the canister won’t explode nor perform when needed.

COMPETITION

Currently, Malaysia is familiar with 3 types of extinguishers: Dry Chemical, CO2, and Water/Foam based. These extinguishers have been the mainstay of firefighting equipment since its invention in the early 1800s. Though proven over time for their robustness in tackling ABC fires, they struggle to handle electrical fires as effectively as the Nanex JE-50. Not only is the Nanex JE-50 easier to handle, but its subsequent residue is also minimal, non-toxic and non-corrosive to your electrical belongings. With these things in mind, Westpeace’s goal will be to educate the consumers on this new product to give the conventional extinguishers a run for their money.

FUNDING

We are currently raising RM1.5 million from pitchIN investors to be utilised in the following manner:

60% of the funds go towards

Execute business expansion plans (resellers / partners / projects) 

Stepping up marketing and promotional activities to improve market penetration

40% of the funds go towards

Operating expenditures 

Expanding team with young talent

Building multi platform sales and retail channels

VISION

It is our goal to introduce our Nanex JE-50 to the Malaysian market, to do so our short-term goals are:

1. Focus on integration within the value chain.

2. Focus on gathering data to back demand claims.

3. Focus on regulatory clearance.

4. Focus on industry benchmarks.

6. Product promotion.

With the business scaling up to being a regional player for manufacturing and assembling the various products beyond the Nanex JE-50.

TEAM

PRESS

https://www.thestar.com.my/news/nation/2020/12/12/firefighters-deal-with-more-fires-in-first-mco

https://www.dosm.gov.my/v1/index.php?r=column/cthemeByCat&cat=162&bul_id=TjM1ZlFxb3VOakdmMnozVms5dUlKZz09&menu_id=NWVEZGhEVlNMeitaMHNzK2htRU05dz09#:~:text=For%20the%20Extreme%20Events%20%26%20Disasters,and%20electricity%20(1%2C234%20cases)

https://www.theedgemarkets.com/article/majority-structural-fires-can-be-avoided

https://www.insurancebusinessmag.com/asia/news/breaking-news/malaysian-fire-department-sounds-alarm-on-lack-of-insurance-167888.aspx

 


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