PETALING JAYA: Solid Automotive Bhd
is acquiring motor vehicles spare parts company, SG, for RM6mil.
In a filing with Bursa Malaysia, the autoparts company said it had acquired the entire stake in SG (or 500,000 shares) from the latter’s shareholders, namely, Ng Tian Seow, Leong Foo Weng and Hong Kok Liang.
Solid Automotive said the acquisition represents a new growth and profitability avenue in the general automotive aftermarket parts for passenger cars.
“SG is well established in the trading of genuine automotive parts and genuine brands including, but not limited to, Perodua, Proton and Nissan.
“Its customers’ base mainly comprises spare parts shops and a network of over 300 customers.
“Accordingly, Solid Automotive will be able to tap into the well established distribution channels of SG.”
