07-07-2025
- Business
- New Straits Times
OSK enters motorcycle financing with RM16.5mil acquisition of Wilayah Credit
KUALA LUMPUR: OSK Holdings Bhd is expanding into motorcycle financing via the acquisition of hire purchase financing company Wilayah Credit Sdn Bhd for RM16.50 million.
In a filing with Bursa Malaysia today, the conglomerate stated that its wholly-owned subsidiary, OSK Retail Capital Sdn Bhd (OSKRC), had entered into a share sale agreement with Platinum Moment Sdn Bhd, which wholly owns Wilayah Credit.
"The proposed acquisition will enable the group's consumer financing business to expand into motorcycle financing, which aligns with OSK's strategy to diversify its consumer financing product offering," said the filing.
Upon the completion of the acquisition, OSK will arrange for Wilayah Credit to sell three excluded real estate properties located in Kuala Lumpur back to Platinum Moment for RM12.60 million.
Completion of the acquisition is expected in 3Q 2025, said OSK.
Wilayah Credit has a total issued and paid share capital of RM10 million divided into 10 million ordinary shares.
