Sime Darby Berhad today announced that it has entered into a conditional share purchase agreement with Permodalan Nasional Berhad to acquire PNB’s 61.2% stake in UMW Holdings Berhad, which not only includes their aerospace and manufacturing businesses, but also the Toyota and Perodua brands. Under the terms of the agreement, Sime Darby will purchase PNB’s 61.2% stake for a total cash consideration of RM3.57 billion or RM 5.00 per share. Once the agreement becomes unconditional, Sime Darby will b

The Mercedes-Benz brand is one that is steeped in tradition. With more than 70 years of history in Malaysia, generations of Malaysians recognize it as the country’s most desired premium car brand. However, that deep rooted tradition also means that the brand must be mindful to not be stuck in the past. Mercedes-Benz Malaysia (MBM) can’t continue to operate like it did when Ipoh tin mining tycoons were still around. In 1988, Mercedes-Benz sold less than 500 cars annually here. Today, MBM sells ar

The Proton Persona has been a relatively popular model for Proton. After all, over the past couple of months, the Persona was able to top the B-segment sedan sales charts. Just recently, Proton unveiled the updated 2022 Proton Persona, bringing with it a host of quality-of-life improvements, including LED headlights, larger 16-inch (up from 15-inch) alloy wheels, and a revised cabin. Also Read: Priced from RM 45k, CVT-only 2022 Proton Persona facelift (MC2) launched, MT dropped Naturally, prices

Last year in June, the government announced a decision to place sales tax (SST) exemption for cars – cut sales tax on CKD cars, while offering 50% sales tax discount for CBU models as part of the Penjana stimulus package. It was supposed to last until 31-December 2020 but in a twist that brought mixed reactions in the local automotive industry, the Ministry of Finance extended the exemption to 30-June 2021. So, if you’re interested to buy a new car, now might be the right time to take advantage

At yesterday’s launch of the Toyota GR Yaris and Toyota Vios GR Sport, UMW Toyota Motor also announced its plans for the 2021 season 4 of its Vios one-make race series Toyota Gazoo Racing (TGR) Festival. The highlight of yesterday’s announcement was the inclusion of the Sepang 1,000 km (S1K) into its racing calendar. The 9-hour endurance race will be known as the Vios Endurance Cup. This is not the first time UMW Toyota Motor has fielded a factory-backed team in S1K. Last year, the company’s Dep

Volvo Car Malaysia has just launched the Volvo S60 CKD earlier today. The locally-assembled (CKD) model will replace the previous USA-made, imported (CBU) model. Here's a quick summary of the new highlights and features of the CKD model. New to the Volvo S60 T8 CKD is the hands-free powered tailgate and Park Assist Pilot. A hands-free powered tailgate is pretty much self-explanatory. With the keys in your pocket, do a kicking motion under the rear bumper, step back away from the car when a short