T.A. Furniture Industries Sdn Bhd (TAFI), a wholly-owned subsidiary of TAFI Industries Berhad, today signed a Memorandum of Understanding (MOU) with OMG Free Reno Sdn Bhd (OMG) to signify an agreement in principle to jointly undertake a collaboration, business venture, or joint venture to sell, distribute and/or supply furniture and fittings.

TAFI was represented by its Group Managing Director Dato’ Sri Azlan Bin Azmi, who is also TAFI Industries Berhad Group Managing Director. OMG was represented by its Managing Director, Ms Lilian Chan Wan Yee. Also present at the signing were TAFI Industries Berhad’s board members, Dato’ Sri Ong Chee Kean, Dato’ Sri Wong Sze Chien and Dato’ Sri Andrew Lim Eng Guan.

TAFI agrees in principle to appoint, authorise and entrust OMG as its trading and market representative in Malaysia, on a sole and exclusive basis, for certain products that include but not limited to furniture, accessories and merchandise. It shall also provide OMG its expertise and knowledge in furniture, and financially support OMG in terms of working capital in relation to credit limits, credit terms, and marketing sponsorship.

In turn, OMG shall only obtain, procure, and sell products from TAFI, including but not limited to furniture, accessories and merchandise. It shall also prominently promote and display TAFI branding in all its advertisements, online platform, and marketing materials.

TAFI also intends to collaborate with OMG on the latter’s revolutionary online subscription platform for home renovations at https://omgfreereno.com/.

As TAFI is an international furniture exporter, the collaboration with OMG would help TAFI’s expansion plan in the Malaysian market and potentially bringing in for TAFI higher sales revenue and profits.

OMG gains the endorsement of a public listed company for its fledging business on top of product expertise and support for its subscription-based business model.

OMG was incorporated last year with vision of developing a web-based platform. It now runs a subscription-based business model with a mission of making property renovation affordable to everyone.

“It’s a Blue Ocean business strategy,” OMG’s Managing Director, Lilian Chan said of OMG Free Reno, a revolution online-based subscription platform for home furniture and renovation.

Unlike the traditional instalment plan which will ‘block’ the customer’s credit card limits, the OMG subscription plan allows subscribers to affect a complete makeover of their property for a monthly subscription fee of as low as RM499* for a tenure of 48 months. At the end of the subscription period, they will own all the furniture and furnishing.

“Our web-based platform brings RENOLUTION to the table — a synergy of renovation techniques and innovative revolution. Via the OMG platform, we are able to enhance our subscribers’ financial ability and flexibility in paying for their property enhancements. This also enhances our customers’ cash flow and financial strength in the long run, as each incremental renovation increases the saleability of the home to both prospective renters and buyers,” said Chan.

“The monthly subscription fee model also paves the way for the mobile platform to develop into a full-fledged digital financing gateway in the future, and establish itself as the fintech pioneer for property buyers and homeowners. OMG will collect all the data generated from the platform for future furniture design and packages,” she added.

Chan shared that “OMG is optimistic of achieving revenue of RM200 million in three years through the collaboration with TAFI for the supply of ergonomic and modernized designed quality home furniture.”

OMG, with the support of TAFI, aims to help 100,000 property owners transform their home with sales target of RM1 billion over the next five years. OMG eventually aims to help 1 million property owners transform their homes over the next 10 years.

TAFI at the same event also signed an MOU with Signature Group, Malaysia’s leading kitchen manufacturer and retailer of the Signature Kitchen brand, to pool their respective expertise and join forces to penetrate the project market. Signature Group was represented by its group project CEO KS Lau.

Dato’ Sri Azlan of TAFI, said: “We are confident that the Signature brand and OMG’s digital DNA will add value to our developments and also boost sales for TAFI’s home furniture business.”

For media queries, please contact Ms Lilian Chan at +6010 3808983