KUALA LUMPUR, Aug 24 — Permodalan Nasional Berhad today lauded the merger between UMW Holdings Berhad and Sime Darby Berhad calling it a step towards strengthening Malaysia's automotive sector.
“The consolidation of two leaders in the automotive industry is driven by the opportunities to strengthen our local and regional presence in the automotive sector while providing a boost to the electrification agenda, which is expected to drive investment growth, enhance efficiency, and create value for our unit holders.
Sime Darby is acquiring a 61.2 per cent stake in UMW from PNB for RM3.57 billion in cash, to further scale up and strengthen its presence in the Malaysian automotive sector.into a leading automotive player in the country with the addition of high-volume mass-market brands, Toyota and Perodua, capturing up to 60 per cent of domestic automotive total industry volume.
The research said that more of the passenger cars sold in these six countries are now electric cars, with BEVs accounting for 3.8 per cent in total vehicle passenger vehicle sales in Q1 2023, as compared to just 0.3 per cent one year ago.