KUALA LUMPUR: DRB-HICOM Bhd through its wholly owned subsidiary Edaran Otomobil Nasional Bhd (EON) will expand its presence in the aftersales services market via a joint venture with the world's fifth largest fast-fit service brand Petromin Express.
Petromin Express is a subsidiary of Saudi Arabia's Petromin Corporation.
The proposed joint venture will be in the ratio of 51:49 between Petromin and EON.
“This joint venture aims to bring together DRB-HICOM and EON's industry capabilities and presence in the automotive value chain with Petromin's operational expertise and track record in the fast-fit aftersales franchise model to capture a fast and growing aftersales segment that closely aligns with the strategic objectives of both parties,” they said in a joint media statement here on Monday.
DRB-HICOM group managing director Datuk Seri Syed Faisal Albar believes the joint venture will benefit both parties.
“Petromin's collaboration with DRB-HICOM will allow it enter into the lucrative Malaysian aftersales servicing market by partnering with a well-established and trusted corporate brand in the automotive sector,” he said.
Petromin's managing director, India & Southeast Asia, Sanjay Nigam expresses enthusiasm that the collaboration comes at an opportune time with customer relationships with OEM changing the dynamics of today's automotive market.
“Reinventing customer touchpoints is therefore necessary as they continue to evolve and change. As market leaders in the kingdom of Saudi Arabia, Petromin brings to bear its vast customer centric, end-to-end mobility solutions, into the competitive Malaysian market. Our partnership with DRB-HICOM will help both parties develop strategies to enhance customer experience,” he added.
Source : The Edge Markets