OYL Industries Berhad (OYL Industries Limited) was a member of the

Hong Leong Group Hong Leong Financial Group Berhad () is a conglomerate based in Malaysia. Founded as a trading company in 1963 by Quek Leng Chan and Kwek Hong Png, the company controls 14 listed companies involved in the financial services, manufacturing, distr ...

Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...

, until its 2006 acquisition by Japan's

Daikin Industries is a Japanese multinational corporation, multinational air conditioner, air conditioning manufacturing company headquartered in Osaka. It has operations in Japan, China, Australia, the United States, India, Southeast Asia, Europe, the Middle Eas ...

. OYL was one of the largest

air conditioner Air conditioning, often abbreviated as A/C or AC, is the process of removing heat from an enclosed space to achieve a more comfortable interior environment (sometimes referred to as 'comfort cooling') and in some cases also strictly controlling ...

manufacturers, and post merger, made Daikin the number two manufacturer of air conditioning systems in the world.

History

In the 1980s, OYL expanded regionally into

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

and

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...

. Having set a firm foundation regionally, OYL took a significant step towards the globalisation of its activities when it acquired US-based SnyderGeneral in May 1994. This acquisition of a major US company by a Malaysian public listed organisation is the first in Malaysian corporate history. The Group's principal activities are the manufacture, sale and distribution of heating, ventilating, air-conditioning and refrigeration equipment and the manufacture and sale of air filtration products and systems. Other activities include investment and property holding. Operations are carried out in North America, Asia and Europe. OYL was incorporated in Malaysia as a private limited company under the name of O.YL. Industries Sdn Bhd and commenced operations (in Shah Alam) during the year 1974 with the assembly of gas cookers and GLEM gas ovens. OYL was a public listed company and its shares were traded on the Main Board of

Bursa Malaysia Bursa Malaysia is the stock exchange of Malaysia. It is one of the largest bourses in ASEAN. It is based in Kuala Lumpur and was previously known as the Kuala Lumpur Stock Exchange (KLSE). It provides a full integration of transactions, offeri ...

. It was delisted as OYL became a member of Hong Leong Group Malaysia. In 2006, Daikin acquired OYL from Hong Leong.Daikin to Acquire Global Air-Conditioning Manufacturer OYL Industries
/ref>

References

External links

OYL Industries Bhd
bloomberg.com Defunct companies of Malaysia Companies formerly listed on Bursa Malaysia Daikin 2006 disestablishments in Malaysia Companies disestablished in 2006 {{Malaysia-company-stub