Ex-Perodua CEO Nominated As Director of MBM Resources, Dealership Group for Volvo, Volkswagen, and Perodua

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Ex-Perodua CEO Nominated As Director of MBM Resources, Dealership Group for Volvo, Volkswagen, and Perodua

In a recent filing to Bursa Malaysia, Med-Bumikar Mara Sdn. Bhd. has announced its intention to nominate the former president and CEO of Perodua Datuk Aminar Rashid Salleh as company director. Med-Bumikar owns 23.72 percent of MBM Resources, which in turn owns 20 percent of Perodua.

MBM Resources is a diversified automotive group with businesses spanning from multi-brand dealerships to automotive parts manufacturing. Its subsidiary Daihatsu (Malaysia) Sdn. Bhd. is a dealer for Perodua vehicles while Federal Auto (and its subsidiary FA Wagen) operates dealerships for Volvo and Volkswagen.

As for automotive parts manufacturing, the company is best known as a supplier of alloy wheels. It also holds a 42 percent stake in Hino Motors Manufacturing (Malaysia) Sdn. Bhd., but the company is in the process of selling some of its stake back to Hino, reducing its stake to 20 percent,

MBM Resources is also the second largest shareholder of Perusahaan Otomobil Kedua Sdn Bhd (Perodua), which Datuk Aminar helmed for nine years until December 2018. MBM Resources holds a 20 percent stake in Perodua – equal to Daihatsu Motor’s stake but behind UMW Corporation’s 38 percent.

Med-Bumikar Mara will put forward its proposal to nominate Datuk Aminar as independent non-executive director at MBM Resources’ upcoming annual general meeting on May 29.

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