Saturday 04 May 2024
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KUALA LUMPUR (April 1): Wah Seong Corp Bhd said its indirect 60%-owned subsidiary WDG Resources Sdn Bhd has been appointed as the sole authorised dealer of the Mitsubishi generator series in Malaysia.

The unit was granted dealership for series MGS-B, MGS-C, and MGS-HV in Malaysia by Japan’s Mitsubishi Heavy Industries Engine System Asia Pte Ltd, effective from today and expiring on June 1, 2020, Wah Seong said in an exchange filing.

The dealership, which is expected to contribute positively to Wah Seong’s earnings over the period, is renewable upon terms and conditions agreeable between WDG and Mitsubishi.

The Mitsuibishi group is notable for providing spare parts and after-sales technical support for engine and construction machines.

WDG, meanwhile, is principally involved in the manufacturing, fabrication, trading, distribution and service of industry machinery, equipment and parts.

Wah Seong’s share price has nearly halved over the course of a year, from RM1.497 on March 30, 2018. The stock edged two sen or 1.94% lower today to finish at 76 sen, for a market capitalisation of RM585.55 million.

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