KUALA LUMPUR: CSH Alliance Bhd has acquired a plot of 1.07 acres of industrial land in Petaling Jaya for RM10mil from M Xpress Sdn Bhd.
In a filing with Bursa Malaysia, CSH said its wholly-owned subsidiary and electric vehicle (EV) business arm, Alliance EV Sdn Bhd (AEV) acquired the land on Jalan Tandang Land, Petaling Jaya from M Xpress.
CSH said the Jalan Tandang Land is intended for the purpose of the EV business to set up a 4S (sales, service, spare parts and body and paint) services centre and showroom to provide the related after-sales services to the EV consumers as well as to showcase EV models.
“The acquisition of Jalan Tandang Land is part of the company’s strategic move to address the requirements from BYD Malaysia Sdn Bhd to have a showroom for customers to visit and 4S service centre in Klang Valley.
“Moreover, Jalan Tandang is a key location within the vicinity of many SMEs, and transportation companies that require EV for commercial use. Driving customers at the forefront is our utmost priority,” executive director Peter Yap said in a statement.
He added that AEV is prepared to go full force in the EV business once it obtained the relevant import permits and approvals from the government.
“The management has strategically acquired 55 acres land in Tanjung Malim recently for our intended local assembly plant due to Tanjung Malim’s strategic location within the Automotive Hi-Tech Valley (AHTV) which will house the biggest automotive manufacturing plant in Malaysia with comprehensive supply chain companies around the area.
“AHTV is expected to be a high impact major project to boost the national automotive industry and is envisioned to be an automotive industry hub for the Asean region. AEV will be able to tap into this available resources, expertise and materials immediately,” Yap said.