KUALA LUMPUR: MSB Global Group Bhd is accelerating its diversification efforts, with plans to launch an in-house electric vehicle (EV) charger brand by the second quarter of 2025, while also preparing to transition from a trading-based business to a lubricant manufacturer.
Executive director Ow Chen Lun said the group’s entry into the EV space is a strategic move to future-proof the business and gain early exposure in the growing clean mobility market.
“We want to have a footprint in the EV market early … If the market shifts from combustion to EV, we will already have our name in the industry,” he said during a virtual press conference following the company’s debut on the ACE Market of Bursa Malaysia, here today.
The group is allocating RM0.83 million, or 3.14% of the RM26.6 million raised from its initial public offering (IPO), to fund the rollout of its in-house EV charger brand.
He said MSB Global is also planning to build its own automotive lubricant blending plant, aiming to capture untapped market opportunities and enhance cost efficiency. “Currently, our market share in automotive lubricants is less than 0.1%, and there is huge potential to grow,” he added.
Meanwhile, Ow said that the shift into manufacturing is expected to improve MSB Global’s margins and reinforce its branding efforts, paving the way for stronger revenue and profit growth in the medium term.
With these multi-pronged strategies, MSB is confident of significantly strengthening its market position over the next three to five years, he said.
MSB Global is the exclusive distributor of GSP-brand automotive parts and components in Malaysia, supplying a comprehensive range of high-quality aftermarket products, including driveshafts, wheel hub assemblies, suspension parts, steering racks, and more, ensuring durability and reliability for customers.
M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO. – Bernama
