KUALA LUMPUR: DRB-Hicom Bhd through its wholly owned subsidiary Edaran Otomobil Nasional Bhd (EON) will expand its presence in the aftersales services market via a joint venture with the world’s fifth largest fast-fit service brand Petromin Express.
Petromin Express is a subsidiary of Saudi Arabia’s Petromin Corporation.
The proposed joint venture would be in the ratio of 51:49 between Petromin and EON.
“This joint venture aims to bring together DRB-Hicom and EON’s industry capabilities and presence in the automotive value chain with Petromin’s operational expertise and track record in the fast-fit aftersales franchise model to capture a fast and growing aftersales segment that closely aligns with the strategic objectives of both parties,” they said in a joint media statement here today.
DRB-Hicom group managing director Datuk Seri Syed Faisal Albar said the joint venture would benefit both parties.
“Petromin’s collaboration with DRB-Hicom will allow it enter into the lucrative Malaysian aftersales servicing market by partnering with a well-established and trusted corporate brand in the automotive sector,” he said.
Petromin’s managing director, India & Southeast Asia, Sanjay Nigam said the partnership with DRB-Hicom would help both parties to enhance customer experience.
Keyword: DRB-Hicom and Saudi firm to venture into vehicle aftersales servicing