PETALING JAYA: OSK Holdings Bhd
is acquiring all 10 million shares (representing the entire stake) in Wilayah Credit Sdn Bhd from Platinum Moment Sdn Bhd for RM16.5mil.
In a filing with Bursa Malaysia, OSK said Wilayah Credit is principally engaged in the business of providing finance through hire purchase.
“The proposed acquisition will enable the group’s consumer financing business to expand into motorcycle financing, which aligns with OSK’s strategy to diversify its consumer financing product offering.
“The proposed acquisition is expected to contribute positively to the group’s performance,” it said.
OSK said the acquisition is not expected to have a significant effect on its earnings and net assets per share for the financial year ending Dec 31, 2025.
“However, the proposed acquisition is expected to contribute positively to the future earnings of OSK.”
For its first quarter ended March 31, 2025 (1Q25), OSK’s net profit rose to RM124.28mil from RM122.93mil in the previous corresponding period.
Meanwhile, revenue for the quarter under review grew to RM400.58mil from RM367.94mil a year earlier.
In a statement on its 1Q25 performance, the company said the property development division would remain committed to its project pipeline and proceed with planned launches as scheduled.
