Singapore's Ziwo Holdings To Sell Electric Motor Scooters In Malaysia; Enters New Market

By Singapore Newsroom
Nikkei Markets
SINGAPORE (Sep 05) -- Ziwo Holdings, a Singapore-based raw material manufacturer for lifestyle products and upholstery, said Tuesday it has signed a dealership pact through its Malaysian subsidiary with Hong-Kong based Yadea Group Holdings, to market and sell Electric Motor scooters in West Malaysia.

The agreement marks Ziwo's "entry into a new geographical market as it seeks to scale up its green energy business", according to its exchange filing. Ziwo said it will  convene an extraordinary general meeting to seek shareholders' approval to change its core business to green energy from that of producing raw materials for consumer goods.

According to Tuesday's agreement, Yadea's sole Malaysian agent GYH E-Vehicle has been assigned the task to assemble and distribute motorcycles, while Ziwo's BM Mobility will look into the commercial sale, with food-delivery companies in target, the company said.
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