UNiRIDE owns a car-sharing business that provides transportation to students and staff in Malaysian public universities with a fleet of Perodua Axia, Malaysia’s first energy-efficient vehicle.
Currently, UNiRIDE is 75%-owned by Wanted Marketing Communications, an authorised sales agent for electric bike manufacturer Treeletrik.
In a statement yesterday, BM Mobility says, “BM Mobility, through its Malaysian subsidiary, will offer RM850,000 to acquire 99.55% of Wanted Marketing Communications and take over its 75% stake in UNiRIDE.”
The remaining 25% stake in UNiRIDE is owned by the company behind Malaysia’s first electric-vehicle-sharing programme, CMS Consortium Ecotour.
The acquisition will also give BM Mobility dealership rights to Treeletrik’s two-wheelers in Malaysia.
This move is part of the group’s plan to pursue more green-energy projects, specifically on activities that promote personal mobility and reduce carbon emissions.
The group intends to expand UNiRIDE’s rental fleet by bringing in electric scooters. For a start, it expects to add electric scooters to UNiRIDE by Feb 2018.
This acquisition comes on the back of the group’s shareholders voting to support its change of core business to focus exclusively on opportunities in green energy in China and Southeast Asia on Jan 2.
See: Ziwo seeks shareholder approval to change business focus and pursue green energy business
Tay Wee Kwang, CEO-designate of BM Mobility says, “We are going full steam ahead with our green-energy plans now that shareholders have given us their blessing to pursue this business. UNiRIDE will be a key growth catalyst for us in Malaysia as we expand our portfolio of green-energy projects in Asia. We intend to scale up this vehicle rental business by introducing electric scooters and reaching out to more universities in Malaysia.”
As at 12.10pm, shares in BM Mobility are trading at 3.2 cents.
