KUALA LUMPUR (Jan 11): Singapore-based BM Mobility Ltd, in a move to pursue more green energy projects, plans to acquire an electric-vehicle dealer in Malaysia that owns a car-sharing business that provides hassle-free transportation to students and staff in public universities in Malaysia.

The car sharing business, UNiRIDE EcoTour Sdn Bhd, was founded in 2015 and now runs a fleet of Perodua Axia, the country's first energy-efficient vehicle, in Universiti Teknologi Mara and Universiti Utara Malaysia. It has also secured rights to roll out similar cars in University of Malaya and Universiti Teknologi Malaysia.

"The four public universities have more than a quarter of a million students in total. Malaysia has 20 public universities," BM Mobility said in a statement today.

UNiRIDE, it noted, is also endorsed by the Ministry of Higher Education and the Malaysia Automotive Institute, and counts Petronas, Celcom Axiata, Allianz, Perodua and HeiTech Padu as strategic partners.

UNiRIDE is now 75%-owned by Wanted Marketing Communications Sdn Bhd. "BM Mobility, through its Malaysian subsidiary, will offer RM850,000 to acquire 99.5% of Wanted Marketing Communications and take over its 75% stake in UNiRIDE," the statement read.

As Wanted Marketing is an authorised sales agent for electric bike manufacturer Treeletrik Sdn Bhd, the acquisition will also give BM Mobility dealership rights to Treeletrik's two-wheelers in Malaysia.

CMS Consortium Ecotour Sdn Bhd, the company behind Malaysia's first electric-vehicle sharing programme, will continue to own the remaining 25% of UNiRIDE.

"We are going full steam ahead with our green-energy plans now that shareholders have given us their blessing to pursue this business. UNiRIDE will be a key growth catalyst for us in Malaysia, as we expand our portfolio of green-energy projects in Asia. We intend to scale up this vehicle rental business by introducing electric scooters and reaching out to more universities in Malaysia," said BM Mobility's CEO-designate Tay Wee Kwang.

BM Mobility intends to bring in the electric scooters by February 2018.

The planned acquisition comes just over a week after shareholders of the BM Mobility voted on Jan 2 to support its change of core business to focus exclusively on opportunities in green energy in China and Southeast Asia.

Listed on the Singapore Exchange, BM Mobility, formerly known as Ziwo Holdings Ltd, was trading at 3 Singapore cent at 3pm, for a market capitalisation of S$14.04 million.