MSB Global Group Bhd managing director Datuk Ow Kee Foo
KUALA LUMPUR: MSB Global Group Bhd
's wholly owned subsidiary MSB Machinery Corporation (Malaysia) Sdn Bhd has entered into a joint venture (JV) agreement with Thai Sin Anant Rubber Factory (2516) Co Ltd (TSAR) to establish a JV company in Thailand as a step for the group's regional expansion.
In a statement filed with Bursa Malaysia today, MSB Global said the JV company will serve as the sole distributor of automotive parts under the Gold Series brand in Thailand that focuses on the importation, distribution and sale of suspension components, shock absorbers and related automotive parts and components.
"The collaboration combines MSB Machinery’s established product expertise and supplier network with TSAR’s local market presence and operational capabilities in Thailand,” it said.
Under the agreement, the joint venture company, which will be incorporated at a later date, will have a paid-up capital of 5.0 million baht, with TSAR holding an 81 per cent equity interest and MSB Machinery the remaining 19 per cent.
MSB Global managing director Datuk Ow Kee Foo said the JV reflects MSB Global's disciplined approach to regional expansion.
"By partnering a reputable local manufacturer with deep market knowledge, we are able to enter Thailand in a capital-efficient manner while retaining strategic exposure to growth in one of ASEAN’s largest automotive markets.”
The group said the JV is expected to contribute positively to MSB Global's earnings over time, and it is not expected to have any immediate material effect on the group's share capital or net assets.
MSB Global noted that Thailand’s automotive market is showing signs of recovery, with domestic car sales rising 20.65 per cent year-on-year to 51,046 units in November 2025, which is expected to support demand for aftermarket replacement parts.
"Against this improving industry backdrop, the group believes the newly established joint venture is well positioned to capture rising demand for quality automotive components under the Gold Series brand,” it said. - Bernama
