Kuala Lumpur-based garment company, Hing Yiap Industries Bhd, is negotiating for two new names to add to its current stable of four brands.

Hing Yiap currently carries the Diesel, Antioni, Bontton, and B.U.M. Equipment brands. Its targets younger, mid-income customers.

Chief executive Khoo Henn Kuan said at an EGM that the company's four brands are doing well, with Antioni leading with RM30m a year in turnover whereas the rest have a turnover of between RM15m and RM20m.

The group is concentrating on the local market and only five per cent of their garments are exported, either to Singapore or Brunei, as the group believes there is a large middle income population in Malaysia to be tapped.

Khoo said that in a survey conducted in 1995, the group had a market share of 17 per cent, but an updated, conservative figure today would show a figure of 20 per cent. Hing Yiap reported a net profit of RM6.28m for the year ended June 30, 2000 compared to RM4.32m in the previous year.

At the EGM, shareholders approved a bonus issue of one-for-two.