Hyumal Motor Sdn Bhd, a subsidiary of Sime Darby had bought the remaining 60 percent equity from Oriental-Hyundai Sdn BhD. Read the full story from Bernama below.
HYUMAL MOTOR TO ACQUIRE 60 PERCENT EQUILITY IN ORIENTAL-HYUNDAI
KUALA LUMPUR, — Hyumal Motor Sdn Bhd, a subsidiary of Sime Darby Bhd has entered into a conditional Share Purchase Agreement with Oriental Holdings Bhd and Lim Tiong Boon to acquire the remaining 60 percent equity in Oriental-Hyundai Sdn Bhd comprising six million shares of RM1 each.
Upon completion, Oriental-Hyundai will be a wholly-owned subsidiary of Hyumal Motor.
“The distribution of Hyundai vehicles in Malaysia will be consolidated under Hyumal Motor, which is the sole and exclusive importer and distributor of completely built-up Hyundai vehicles and related spare parts,” Sime Darby said in a filing to Bursa Malaysia today.