Grand Banks Yachts Limited (Grand Banks) has unveiled its dedicated state-of-the-art Composite Manufacturing Facility, furthering the Group’s lead as one of Asia’s largest and most advanced luxury boat- building facilities.
In the presence of customers, business partners and shareholders, Mark Richards, CEO of Grand Banks, and directors conducted a tour of the facility that was opened after nearly 18 months of expansion and modernisation.
The Composite Manufacturing Facility enlarges the Group’s manufacturing yard by 143,300 sqft (13,313 sqm), or 25%, to nearly 700,000 sqft (65,032 sqm). The yard, which manufactures renowned global brands such as Grand Banks, Palm Beach and Eastbay, is located at Pasir Gudang, one of nine flagship zones in the Johor-Singapore Special Economic Zone, which was recently inaugurated as an economic corridor for Malaysia and Singapore.
Grand Banks now has significantly greater control over every stage of production, including composite manufacturing, under one roof. Equipped with advanced technologies such as on- site 8-axis rotor robotics, a testing pool, and engineering labs, the Group can build bigger yachts with greater precision, craftsmanship and efficiency while shortening delivery times.
Leveraging optimised resin infusion techniques and precise blends, the Group is able to enhance its proprietary V-Warp Technology to deliver stronger, lighter, and more fuel-efficient hulls. In line with its commitment to sustainability, solar panels have also been installed on the facility’s rooftop to power on-site operations.
The completion of the Composite Manufacturing Facility is well-timed. Already, the Group’s increased efforts in marketing and customer engagement has led to significant expansion of its customer base, especially in North America, which has contributed to a healthy net order book of S$109.8 million as at 31st December 2024.
Basil Chan, Chairman of Grand Banks, which is listed on the Mainboard of the Singapore Exchange, said, “The expansion is a critical part of our strategy to improve quality, internal efficiencies and generate economies of scale. The enhancements in technology and processes will further strengthen our business foundation to better serve customers and add long-term value to our shareholders.”
“I would like to thank my colleagues for their hard work to make this expansion a reality. The expansion marks a major milestone in our quest to become a global leader in the luxury boat market. I also sincerely thank our customers, business partners, shareholders and the local authorities for their support,” said Mark Richards.
Grand Banks, a renowned manufacturer of luxury recreational motor yachts for almost 70 years, The Group manufactures yachts under the Grand Banks, Eastbay and Palm Beach brands out of its manufacturing yard at Pasir Gudang, Johor, Malaysia and provides new boat sales, brokerages and support services out of its waterfront facilities at Stuart, Florida, and San Diego, California, USA as well as Newport, New South Wales and Coomera, Queensland, Australia. The yachts, which range between 42 feet and 107 feet, have a reputation for impeccable quality that delivers unrivalled performance.
