NEWS IN BRIEF: JAN 7, 2022

MYTUKAR, Malaysia’s fastest-growing digital used car platform has launched the largest used car automotive fair, myTukar AutoFair 2022 from Jan 7 to 9, in conjunction with the launch of the brand’s new flagship retail showroom, the myTukar Retail Experience Centre in Puchong South.

In a statement today, myTukar said the event features over 1,000 vehicles, the latest car parts, and accessories from various renowned automotive manufacturers. 

"The AutoFair will showcase a wide range of vehicles, from Malaysia’s No.1 choice, a 2019 Perodua Myvi to a 2019 Mercedes-Benz 350 AMG Line and many more,” it said.

Its chief executive officer Derrick Eng said the expansion of offline operations would enable to provide a go-to centre to check out the latest in used vehicles and serve customers with exceptional after-sales service.

-- BERNAMA

COMINTEL CORPORATION BHD (Comcorp) has received a notification from JT Conglomerate Sdn Bhd (JTC) that it has entered into a conditional share sale agreement with Just Trading Sdn Bhd, Sagittarius World Trade Sdn Bhd and AMG Resources Sdn Bhd for the acquisition of all the 71,056,870 ordinary shares in Comcorp.

It said the ordinary shares represents 50.75 per cent of the existing issued share capital of Comcorp for a total cash consideration of RM10.66 million, equivalent to RM0.15 per Comcorp share.

In addition, it said JTC has also entered into a conditional subscription agreement with Comcorp to subscribe for 206,125,000 new shares and 70,000,000 redeemable convertible preference shares  at an issuance price of eight sen each.

"As a result of the proposed subscription and acquisition, JTC will hold 277.18 million Comcorp shares, representing 72.47 per cent of the total enlarged number of issued shares in the company,” it said in a filing with Bursa Malaysia today.

-- BERNAMA

BMW GROUP MALAYSIA and Tian Siang Premium Auto have added three new BMW i Charging facilities in Penang, namely at The Prestige Hotel in George Town and the Light Hotel in Seberang Jaya as a move to expand the facility in the state.

Managing director of BMW Group Malaysia Hans de Visser said the premium automotive manufacturer has been working closely with a network of dealers as well as key stakeholders leading up to the introduction of BMW i in 2015 to ensure the necessary charging infrastructures were in place for the acceleration of electromobility in the country.

 "We at BMW believe that the future is electric, and it is a shared responsibility between all parties including our dealer partners such as Tian Siang Premium Auto to keep driving electrified mobility forward in Malaysia,” he said in a statement today.

Meanwhile, Tian Siang dealer principal Tan Ka Kin said the three new BMW i Charging facilities were added to the ten existing facilities introduced previously across Ipoh and Penang.

-- BERNAMA

VOLVO CAR MALAYSIA has announced that it has recorded sales and performance results for 2021 with highest sales of 2,229 units, a 14.3 per cent increase from the previous year.

It said this marked the sixth consecutive year of sales growth, a positive sign for further growth into the coming year, besides setting a new record for the highest sales performance since the establishment of Volvo Car Malaysia.

"Another milestone was the highest sales performance per month on record, with 524 units sold in December 2021 alone. Almost 73 per cent of all new Volvo cars sold in Malaysia were Recharge models,” it said in a statement today.

-- BERNAMA

WILLOWGLEN MSC BHD’s wholly-owned subsidiary Willowglen Services Pte Ltd has bagged a contract valued at RM9.28 million by the Public Utilities Board of Singapore for the servicing and maintenance of server room equipment of various supervisory control and data acquisition systems.

It said the contract would commence on Jan 17, 2022 and will be completed by Jan 16, 2027.

"The contract is expected to contribute positively to the group’s earnings and net assets per share for the financial years ending Dec 31 2022 to 2026,” it said in a filing with Bursa Malaysia today.

-- BERNAMA