MeGroup ups stake in subsidiary operating Honda dealership in Malaysia

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SINGAPORE (Oct 6): Catalist-listed MeGroup has entered into a definitive sale and purchase agreement to acquire an additional 25% stake in subsidiary MJN Motors, which operates the group’s Honda dealerships in Malaysia.

The agreement, entered into with vendors Tan Kian Boon and Wong Sai Hou, will see MeGroup increase its stake in MJN Motors from 55% to 80%.

Wong is the son of MeGroup executive chairman and CEO Wong Cheong Chee, and also MeGroup’s head of Group Expansion & Strategy and Dealerships. He is also the brother of MeGroup executive director Wong Keat Yee.

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