BMS Holdings Expands Northern Malaysia Reach Through Penang Joint Venture
MALAYSIA: Malaysia’s BMS Holdings Bhd plans to establish a 60:40 joint venture with the shareholders of Penang-based Wee Tatt Traders Sdn Bhd to expand its tile and building materials distribution network across the northern states. The proposed JV, Jubin BMS (Wee Tatt) Sdn Bhd, will distribute tiles, ceramic and porcelain products, sanitary ware and other building materials. BMS will contribute RM3 million (~US$735,700) in cash for a 60% stake, while Wee Tatt’s shareholders will contribute RM2 million (~US$490,500) in inventory and facilitate the transfer of the company’s operations, assets, employees and business relationships. The partnership is intended to leverage Wee Tatt’s existing market presence and strengthen BMS’s regional reach.
Source: New Straits Times
