Catalist-listed MeGroup says it has secured new manufacturing projects from new and existing automotive customers. Production for some of its projects from its existing customers are expected to commence from 2021 to 2022.
At the same time, the group was awarded a letter of offer from Mitsubishi Motors Malaysia to establish and operate a second 3S automobile dealership under the brand.
The showroom will be located at Bandar Bukit Raja, Selangor, Malaysia. It is expected to commence operations in 3Q2021.
MeGroup now counts 10 dealership outlets under six brands – Ford, Honda, Hyundai, Mazda, Mitsubishi and Peugeot.
SEE: MeGroup bets on twin growth engines of manufacturing and dealership
Mitsubishi Motors Malaysia is the official distributor of the Mitsubishi Motors brand of automobiles in Malaysia.
“We are heartened to be able to secure these projects for our Manufacturing business, and are also encouraged by the trust our customers have placed in us. As we continue to deliver top-quality products with affordable value, we hope to also secure other new automotive customers to add to our portfolio,” says Carol Wong, executive director of MeGroup.
“This proves that MeGroup remains a reliable and trustworthy company to our brand principals. This working relationship is the most important aspect of our business and is the foundation of the growth of our business. We will continue our momentum and efforts in the Dealership segment to add more brands and outlets to our growing portfolio,” adds Jeffrey Wong, head of growth and expansion, head of dealerships at MeGroup.
Shares in MeGroup closed flat at 19.2 cents on Jan 25.
