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New vehicle sales in Malaysia rose by almost 11% to 71,730 units in July 2024 from 64,790 units in the same month of last year, according to registration data released by the Malaysian Automotive Association
1). New issuance of RM 200million Islamic Medium Term Noted(loan)
purpose use for future investment, if required.
2). OEM remains encouraging, but REM(replacing part) facing stiff competition from local import.
3). Export sales establishing strong presence in America and Pacific region, but middle east tension could derail revenue and margin of the group export segment
4). Automotive ind in ASEAN experiencing slow down.
On 5 July 2024, APM Auto Components (USA) Inc, a wholly owned subsidiary of the Group, entered into
a sale and purchase agreement for the disposal of a property in the state of New Jersey, USA, for a
consideration of USD3.94 million or approximately equivalent to RM17.5 million. Subject to the fulfilment
of the conditions precedent, the expected completion date is no earlier than 60 days from the expiration of
the end of due diligence or any extension thereof
Net cash used in investing activities of RM41.3 million that was mainly for the acquisition of a land
in Indonesia amounting to RM24.1 million, the purchase of tooling, machineries and equipment
amounting to RM11.7 million, other investment amounting to RM5.0 million and the Group’s
investment in an associate in Malaysia amounting to RM4.6 million