PETALING JAYA: Berjaya Assets Bhd
(BAssets) has entered into a joint venture agreement (JV) with HSHP Auto Technology Sdn Bhd and PG Car Centre (Northern Region) Sdn Bhd to subscribe for 51% stake in Berjaya Autotech Sdn Bhd, a joint-venture company to jointly develop and expand the current automotive assembly lines and operations of B-Assembly for a cash subscription of RM5.10mil.
In a filing with Bursa Malaysia, BAssets said the JV was inked via its wholly-owned subsidiaryBerjaya Assembly Sdn Bhd (B-Assembly).
It said the proposed JV is expected to be completed by the second quarter of 2025.
“The proposed JV will enable the BAssets group to develop and expand the automotive assembly lines and operations of B-Assembly to facilitate assembly of other types of vehicles.
“The board does not foresee any material risk other than the operational risks associated with the proposed JV. The board will take necessary steps to mitigate the risks as and when it occurs,” it said.
