OSK acquires firm for RM16.5mil to expand into motorcycle financing

PETALING JAYA: OSK Holdings Bhd is acquiring 10 million shares (representing the entire stake) in Wilayah Credit Sdn Bhd from Platinum Moment Sdn Bhd for RM16.5mil.

In a filing with Bursa Malaysia, OSK Holdings said Wilayah Credit is principally engaged in the business of providing finance through hire purchase.

“The proposed acquisition will enable the group’s consumer financing business to expand into motorcycle financing, which aligns with OSK’s strategy to diversify its consumer financing product offering.

“The proposed acquisition is expected to contribute positively to the group’s performance,” it said.

OSK Holdings said the acquisition is not expected to have a significant effect on its earnings and net assets per share for the financial year ending Dec 31, 2025.

“However, the proposed acquisition is expected to contribute positively to the future earnings of OSK Holdings.”