BAuto in JV with Kia Corp to assemble Kia vehicles for Malaysia, Asean markets

KUALA LUMPUR: Bermaz Auto Bhd (BAuto) has entered in a joint venture agreement with Kia Motors Corporation, Korea (Kia Corp) to undertake the production and/or assembly of vehicles under the Kia marque in Malaysia via a newly incorporated company to be known as Kia Malaysia Sdn Bhd (KMSB).

BAuto, in a filing with Bursa Malaysia said KMSB would have an initial share capital of RM3,000 comprising 3,000 ordinary shares issued at RM1 each, with BAuto and Kia Corp holding 33.33% and 66.67% KMSB shares respectively.