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Berjaya Corp to distribute Mazda vehicles


March 4, 2008

Berjaya Corp to distribute Mazda vehicles

Berjaya Corporation Berhad signed an agreement late February with Mazda Motor Corporation for the distribution of completely-built-up (CBU) Mazda motor vehicles and parts in Malaysia for three years, starting April 1, 2008.

As part of the deal, the company entered into a share sale agreement with Cycle & Carriage Bintang Berhad, current distributor of Mazda motor vehicles, and acquired CCB’s entire stake in Hercules Automotive Engineers Sdn Bhd, the Mazda business operating company, for $5.3 million .

Berjaya Corp said the securing of rights to distribute Mazda motor vehicles will complement Berjaya Corp's existing motor vehicles business and the proposed acquisition is expected to contribute positively to the group's profits.

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