Ong Beng Seng gets the prancing horse with Ferrari deal via AsiaOne

[g8crasher]

Ong Beng Seng gets the prancing horse with Ferrari deal

By Samuel Ee

SINGAPORE - It is confirmed - Ital Auto, a wholly- owned subsidiary of Komoco Motors, has been picked as the new importer of Ferrari in Singapore.

The Shanghai-based Ferrari Asia Pacific regional office is said to have sent Ital Auto a letter of offer yesterday afternoon.

Subject to agreement, it will bring to a close a much talked-about race among half a dozen competitors who have been ardently wooing the Italian super sports car brand for more than six months.

Ital Auto was set up earlier this year by hotelier Ong Beng Seng and his good friend and long-time business partner, Metro Holdings group managing director Jopie Ong, to bid for the Ferrari dealership.

After beating a field of high-end car distributors and wealthy businessmen, it appears certain that Messrs Ong and Ong will accept the offer to represent the exclusive Italian marque.

If they do so, Ital Auto is expected to appoint Komoco Motors managing director Teo Hock Seng as the dealer principal.

In turn, Mr Teo will likely have to hire a general manager to look after the day-to-day operations.

When that happens, the prancing horse will join an existing stable of automotive marques - Harley Davidson, Chrysler, Jeep, Dodge and Hyundai.

The Ferrari showroom is expected to be housed at the spacious Komoco Motors building on 253 Alexandra Road.

It is understood that the entire facade facing Leng Kee Road will be devoted to Ferrari.

Currently, this section of the building is occupied by the Chrysler and Harley Davidson showrooms.

Most of this space will be taken over for the Ferrari showroom, while the rest is understood to be set aside for the marque's workshop operations.

However, all this is likely be a temporary measure, with the ultimate aim said to be to eventually house the exclusive marque in a more impressive stand-alone facility.

So far, it is understood that the location for this has yet to be identified.

Before it parked itself in Ital Auto's forecourt, the exclusive Italian marque had been represented by Hong Seh Motors here since 1982.

But three years ago, the Italian exotic carmaker undertook a review of its dealer network across the region in an effort to maximise the full potential of the brand.

For Singapore, it invited interested parties to bid for the franchise.

The successful applicant is expected to invest in a new and more visible showroom in the traditional Leng Kee motor belt or the Orchard Road area, as well as beef up after-sales service and customer care programmes.

Last year, only 45 units of Ferrari sports cars were delivered in Singapore, out of the manufacturer's tiny global total of 6,587 units.

But as the Ferrari badge is arguably one of the most desirable in the world, it was no surprise that an unusually large number of parties was vying for the dealership despite the very low volume involved.

They included Hadi Tanaga, the owner of Audi dealer Premium Automobiles, and Karsono Kwee, who represents Porsche and Rolls-Royce, among other brands.

Mr Ong and Mr Tanaga were the two candidates shortlisted by Ferrari a week ago, while Mr Kwee had to bow out of the race much earlier after pressure from Porsche.

This article was first published in The Business Times.

[Guest 9339]

Just saw a Hong Seh's servicing / parts Van...... no more horse logo.