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FINWIRES

GIIB Unit, Two Others to Explore Centralized 4S Hub Development

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GIIB (KLSE:GIIB) unit GIIB Project Management & Capital signed a memorandum of understanding with Geely-owned Farizon and CAF Motors to explore developing and operating a centralized 4S (sales, service, spare parts and solutions) hub for Farizon commercial electric vehicles in Peninsular Malaysia.

Under the proposed collaboration, Farizon will provide brand, product and technical support, while CAF Motors is expected to act as the distributor and GIIB PMC will develop and operate the hub, according to a Monday Malaysian bourse filing.

The companies said commercial terms, including sales targets, margins and inventory arrangements, will be finalized under definitive agreements.

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