As at March 31, Hanamaru has a net tangible asset of RM1,857,751, which implies the NTA attributable to MeGroup's 20% stake is RM371,550. For the year ended March 31, Hanamaru reported earnings of RM213,103.
Malaysia-based car dealer and parts maker MeGroup plans to invest RM919,248 ($285,683) for a 20% stake in Hanamaru, which operates an online auction platform for used or salvaged cars and parts.
The deal sets the stage for potential joint regional expansion. It also comes with two call options, giving MeGroup the chance to raise its stake subsequently to 34.5% and then 49% at pre-agreed valuation, upon meeting specific earnings targets.
