Hap Seng Trucks Distribution Sdn Bhd to Acquire Commercial Vehicles Business from Mercedes-Benz Malaysia

PETALING JAYA: Hap Seng Consolidated Bhd
 has agreed to acquire the commercial vehicle business of Mercedes-Benz Malaysia Sdn Bhd for an undisclosed sum.

“The proposed acquisition enables the Hap Seng group to participate in the wholesale distribution of the Mercedes-Benz and Fuso commercial vehicles in the growing market in Malaysia,” it said in a filing with Bursa Malaysia yesterday.

Hap Seng is an authorised dealer of Mercedes-Benz cars, with six Autohaus showrooms in the Klang Valley, Kota Kinabalu and Kuching.

The acquisition, the company said, would further strengthen the group’s presence as a player for both passenger cars and commercial vehicles in Malaysia.

It will also run the operations of Mercedes-Benz Malaysia commercial vehicle training centre.

Hap Seng Trucks is a wholly owned subsidiary of Hap Seng Consolidated Berhad, a public company listed on the Main Market of Bursa Malaysia Securities Berhad with market capitalisation of about RM23 billion. It is a diversified group with six core businesses – plantations, property investment and development, credit financing, automotive, fertilisers trading and building materials.

Jarec Cheong