MSB Global Unit, Thai Sin Anant Form Auto Parts JV in Thailand; Shares Rally 18%

MT Newswires Live01-06 13:24

MSB Global Group (KLSE:MSB) unit MSB Machinery Corporation (Malaysia) signed a joint venture deal with Thai Sin Anant Rubber Factory (2516) to establish a new JV in Thailand, according to a Monday Malaysian bourse filing.

Shares of the automotive products manufacturer jumped about 18% in Tuesday's midday trade.

The JV will be owned 81% by Thai Sin Anant Rubber Factory (2516), and 19% by MSB Machinery Corporation (Malaysia).

The JV will see the sole distributor of "Gold Series" automotive parts in Thailand, focusing on suspension components, shock absorbers and related parts, the filing said.

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