Singapore firm buys majority stake in UniRide
UniRide runs a fleet of Perodua Axia in Universiti Teknologi Mara and Universiti Utara Malaysia under its car sharing programme.
KUALA LUMPUR: Singapore listed BM Mobility Ltd is buying an electric bike dealer in Malaysia that has a majority stake in car sharing programme targeting local universities.
“The proposed acquisition further serves as a strategic platform for the group to scale up vehicle rental business by introducing electric scooters and reaching out to more universities in Malaysia,” the company said in a filing with the exchange today.
Under the deal, BM Mobility said its 65% unit Estar Investments Pte Ltd will pay RM850,000 for a 99.55% stake in Wanted Marketing Communications Sdn Bhd (WMS).
WMS is the authorised sales agent for electric bike manufacturer, Treelektrik Sdn Bhd and a 75% stake in UniRide Ecotour Sdn Bhd.
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