Strategic expansion into motorcycle financing
On 7 July 2025, OSK announced the acquisition of Wilayah Credit, a motorcycle
financing company, for an effective price of RM3.9m. Wilayah Credit provides
motorcycle financing, with demand driven by the gig economy. This marks OSK’s
second consumer financing product alongside its civil servant financing
business, offering growth and risk diversification. Rather than building from
scratch, OSK gains an established player with dealer networks, operational
expertise, and valuable consumer data to enhance credit assessment, product
tailoring, and risk management. Post-acquisition, OSK can also unlock growth
by leveraging its stronger funding capacity. The effective acquisition price at a
~7.7% premium to net assets is justified by intangible value in customer
relationships and market presence. Maintain BUY with TP of RM2.00 based on a
20% discount to our SOP-derived valuation of RM2.50.

（吉隆坡15日讯）在市场仍以房产商看待侨丰控股（OSK，5053，主板产业股）之际，其内部两大业务，即私人信贷与电缆，正悄然由配角转为主力，有望在未来数年成为推动盈利的核心引擎。

丰隆投行分析员发报告点出，侨丰控股多年布局的私人信贷已初见成果，其在2025财年料将超越房产业务，成为集团最大的盈利贡献来源。

私人信贷成最大业务

“近年，侨丰控股聚焦于具现金流韧性的族群，摩托车融资成为了新增长主力，尤其外卖和物流平台的扩张，促使摩托车成为骑手赖以维生的资产。”

分析员表示，此类借贷者的还款能力和日常收入高度挂钩，在经济波动上展现稳定的风险特质。

与此同时，侨丰控股已在新加坡设立私人信贷据点，作为未来开拓亚太私募信贷交易的平台，并于澳洲取得基金管理执照，计划在2026年推出首个私募信贷基金。