Opal Warranty Set To Become Malaysia’s Largest Extended Warranty Service ProviderAuto News
Opal Auto Mart and EWP Services, two leading warranty service provider in Malaysia for used and reconditioned cars, are set to extend their reach even further with the signing of a Memorandum of Understanding with multi-brand car dealer One Auto Group.
Both Opal Auto Mart and EWP Services had recently merged to create Opal Warranty – the largest extended warranty service provider and administrator in Malaysia. Opal Warranty is supported by a network of 200 workshops nationwide and all its warranties are underwritten by established insurance companies in Malaysia.
Subject to the relevant authorities’ approval, the MoU will eventually see Opal Warranty strengthening its operations as a subsidiary of One Auto Group.
One Auto Group operates a network of dealerships representing Hyundai and Peugeot brands in five cities around the country. The company is also involved in the used car and reconditioned cars business, hence the synergy with Opal Warranty.
The partners involved in the deal are confident that the deal will be completed by February this year.
“This merger is a godsend for owners of used and reconditioned vehicles. Opal Warranty will be able to provide support services through 200 workshops nationwide,” said David Lee, CEO of Opal Warranty.
While many dealers of used/reconditioned cars provide a six-month or one-year warranty for their cars, most of the time these are simply verbal agreements and are not supported by any legally binding documents.
“It is one thing for a company to offer a verbal warranty and quite another to offer one which follows strict professional standards and is backed by licensed insurance companies,” added Lee.
As the proposed merger with One Auto Group is still in the process of completing the necessary due diligence and legal approval, the company will only be announcing the premiums charged for its services and eligible vehicles after February. However we understand that the warranty will cover vehicles aged up to seven or eight years old.
To comply with the terms and conditions of the warranty cover, users will need to have their vehicles maintained at one of the 200 workshops around the country. Customers to book their service appointments by downloading the Opal SOS app from Apple’s App Store or Google’s Play Store for free.
Dato Billy Goh, Managing Director of One Auto Group Companies said “Apart from reaching out further to consumers in Malaysia, we are looking to make Opal Warrantt a major player in South-East Asia.
On another note, Opal Warranty also announced that AmGeneral Insurance Berhard has appointed Opal Auto Mart as their Third Party Administrator for their Mechanical Breakdown Insurance programme for used and reconditioned cars.