Fibon's unit seeks collaboration with EZAuto Asia

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KUALA LUMPUR (Nov 8): Fibon Bhd says today its wholly-owned subsidiary Fibon Capital Sdn Bhd may tomorrow enter into a memorandum of agreement (MoA) with EZAuto Asia Sdn Bhd to explore and collaborate on business opportunities in relation to the provision of financing access and capital solutions for users of the EZAuto Platform.

In a bourse filing today, Fibon said EZAuto is a scalable platform that can do policy coordination, trade and financing collaboration, as well as social and cultural cooperation in the global automotive industry.

"The MoA serves as an opportunity for the group to expand its financial services business. Through this collaboration, Fibon Capital  will be able to provide financial assistance as an alternative financing option to users of the EZAuto Platform," said Fibon.

"The collaboration also serves as an opportunity for Fibon to extend other products and services within the group and EZAuto," it added.

Fibon shares closed down 0.5 sen or 1.25% at 39.5 sen today, with 25,100 shares done, bringing a market capitalisation of RM38.71 million.