PETALING JAYA: JHM Consolidation Bhd has entered into a memorandum of understanding (MoU) with Jiangsu Dekai Auto Parts Co Ltd (Dekai) of China.

The MoU is meant to form a joint venture (JV) for the purpose of designing, manufacturing, marketing and selling automotive lighting products in Asean countries.

In a filing with Bursa Malaysia, JHM said it will hold a 55% stake in the proposed JV, called JHM Dekai Auto Lighting Sdn Bhd, with Dekai holding the remaining 45%.