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.
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