KUALA LUMPUR: MBM Resources Bhd has sealed an initial pact with China’s largest listed automotive group, SAIC Motor Corp Ltd (SAIC), to revive the MG brand in Malaysia.
A memorandum of understanding (MoU) signed recently also spells out the prospect of assembling the iconic British marque here.
The MoU was signed between MBM’s unlisted wholly-owned unit Federal Auto Holdings Bhd and SAIC, the company said in a filing to Bursa Malaysia yesterday.
Federal Auto, in a statement, said the MoU is a first step towards reviving the iconic British marque in Malaysia.
“The MoU formalised the intention of Federal Auto and SAIC to conduct further discussions, due diligence and feasibility studies concerning the re-introduction of MG vehicles in Malaysia, which might also lead to the development of facilities for the assembly of complete-knocked-down MG vehicles.”
The MG brand was last exclusively imported and distributed here by Brooklands Motors Sdn Bhd.
SAIC bought the MG marque in 2007 and its wholly-owned subsidiary MG Motor UK Ltd is headquartered in Birmingham, Britain.
SAIC-owned brands include Maxus, MG, Roewe and Yuejin.
The company also manufactures a wide range of vehicles under the Baojun, Buick, Chevrolet, Iveco, Skoda, Volkswagen and Wuling brands through joint ventures.
Established in 1960, Federal Auto started as the first and largest Volvo car dealer in Malaysia.
It has now become a multi-brand automotive dealer for brands such as Volkswagen and Mitsubishi, besides Volvo.
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