Suzuki Motor Corporation (SMC) has taken a step toward stronger automobile sales in Malaysia by acquiring an interest in the national distributor, Suzuki Malaysia Automobile Sdn. Bhd. (SMA).
SMA was established in December 2004 as a completely owned subsidiary of Malaysian conglomerate DRB-HICOM Bhd. to import and market Suzuki automobiles. It began selling Suzuki automobiles in Malaysia in May 2005 as an authorized distributor.
With a view to developing and promoting the sale of Suzuki automobiles in Malaysia, SMC, Itochu Corporation, and DRB-HICOM Bhd. have entered into a joint-venture agreement whereby SMC and Itochu Corporation have invested in SMA by purchasing new ordinary shares. SMC has invested 14 million ringgit (about ¥448 million) for a 40% stake in SMA. Itochu Corporation has acquired a 20% stake, and DRB-HICOM Bhd. has retained a 40% interest.
SMA sources Suzuki vehicles from Japan. It imports and sells the Swift on a complete-knockdown basis and the Grand Vitara and SX4 as complete built-up vehicles.
|Company name:||Suzuki Malaysia Automobile Sdn. Bhd.|
|Capital:||35 million ringgit (about ¥1.12 billion)|
|Shareholders:||Suzuki Motor Corporation (40%); DRB-HICOM (40%); Itochu Corporation (20%)|
|Date of establishment:||December 2004|
|Models handled:||Swift; Grand Vitara; SX4|
|Number of dealers:||30 within 2008 (planned total)|
|Sales volume:||About 8,000 units in 2008 (target)|