HI Mobility Bhd’s shareholders have approved the group’s proposed acquisitions of Acacia Motor Services Sdn Bhd and Handal BCM Sdn Bhd for a total consideration of RM82.5 million, marking its expansion into the commercial vehicle value chain.
The approval was obtained at the group’s extraordinary general meeting, along with the proposed diversification of its principal activities.
The acquisitions will be satisfied entirely through the issuance of 34.4 million new HI Mobility shares at RM2.40 per share, representing 6.4% of the enlarged share capital.
With the completion of the transactions, HI Mobility will expand beyond its core bus transportation services into manufacturing, assembly, distribution, maintenance and repair of commercial vehicles.
The group said the acquisitions position it as a fully integrated commercial vehicle solutions provider, in line with Malaysia’s push for electric vehicle (EV) and diesel bus procurement.
Acacia’s assembly and aftersales capabilities, combined with Handal BCM’s distribution network, are expected to enhance operational synergies and strengthen the group’s competitiveness.
Executive director and chief executive officer Lim Chern Chuen said Acacia has secured orders for 298 buses scheduled for delivery by the third quarter of 2026, providing stronger earnings visibility.
“With Acacia’s secured orders, we now have stronger earnings visibility and a solid foundation for sustainable long-term growth,” he said.
As at Jan 31, 2026, HI Mobility owns a fleet of 813 buses, including 65 electric buses. The group has been accelerating fleet electrification since 2023 as part of its green mobility initiatives.
HI Mobility was listed in March 2025 and operates cross-border and local bus services under the Causeway Link brand.
