20/08/2026

BIZ & FINANCE

BIZ & FINANCE THURSDAY | AUG 20, 2026

15

Bus Cap, BYD advance Malaysia NECV platform

Philippines remains key market for M’sia KUALA LUMPUR: The Philippines remains an important source market for Malaysia, with 299,633 visitor arrivals recorded as of June this year, up 1.13% from 296,298 in the same period last year. Tourism Malaysia, in a statement yesterday, said air connectivity between the two countries remained strong, with about 59 weekly flights offering more than 11,615 seats. The flights connect Kuala Lumpur, Kota Kinabalu and other Malaysian destinations with cities in the Philippines, including Manila and Cebu. Tourism Malaysia deputy director-general (Promotions II) Lee Thai Hung said the Philippines continued to be a promising source market, supported by strong air connectivity, close cultural ties and growing demand for regional travel. He said the Sales Mission to the Philippines 2026, being held from Aug 16 to 23 in Manila, Davao and Cebu, was aimed at strengthening ties with the Filipino travel industry and promoting Malaysia’s tourism offerings. “We remain committed to positioning Malaysia as the preferred destination for leisure, business events, shopping, nature, culture and Muslim-friendly tourism in conjunction with Visit Malaysia 2026–2027,” he said. The multi-city mission brings together 21 Malaysian tourism industry stakeholders and 340 Filipino buyers through business-to business meetings, networking sessions, destination presentations and pre-arranged business-matching sessions. The programme also provides Malaysian tourism suppliers with opportunities to promote their latest travel packages, forge new business collaborations and strengthen existing partnerships with Filipino travel trade representatives. – Bernama Hyundai Malaysia expands north with Penang outlet JURU: Hyundai Motor Malaysia in partnership with Goh Brothers Motor Sdn Bhd, yesterday opened its latest 4S dealership outlet in Juru, Penang, marking another milestone in its nationwide network expansion strategy as the company works towards its goal of establishing 25 outlets nationwide by the end of 2026. “Penang is one of Malaysia’s most important economic and innovation hubs, making it a strategic hub for Hyundai. Goh Brothers Motor is a highly respected automotive group with deep roots in the northern region and a proven track record of delivering quality customer experiences. Their strong market understanding and expertise make them an important partner in our network expansion journey”, said Hyundai Motor Malaysia managing director Jahabarnisa Haja Mohideen. Meanwhile, Goh Brothers Motor dealer principal Sunny Koay said they are proud to become part of the Hyundai family and excited to bring the brand’s innovative, reliable and high-quality vehicles to their customers.

PETALING JAYA: Bus Cap Bhd, a bus builder listed on Bursa Malaysia, has entered into a MoU with BYD Malaysia Sdn Bhd to jointly advance a Malaysia-based new energy commercial vehicle (NECV) platform, anchored by the proposed establishment of a localised electric bus assembly and manufacturing facility in Perak. The proposed cooperation is expected to cover product localisation, sales, marketing and distribution; comprehensive after-sales services; local assembly and manufacturing; and the evaluation of an appropriate investment and operating structure to support the proposed platform. Over time, the parties may also evaluate the potential extension of the cooperation beyond electric buses into other new energy commercial and industrial mobility applications including electric trucks, electric forklifts, electric vans or minibuses and rail transit-related solutions, subject to market demand, technical feasibility and definitive agreements. In a statement yesterday, Bus Cap said, this proposed cooperation represents a major post-listing milestone for the company. While bus manufacturing remains the group’s operating foundation, the MoU provides a clear industrial pathway for Bus Cap to participate in Malaysia’s electric commercial vehicle transition — from traditional bus-building towards localised electric bus manufacturing, after-sales support and lifecycle mobility solutions. Perak, the site of Bus Cap’s manufacturing heritage since 1968 through its flagship subsidiary Sin Hock Leong Coach Works Sdn Bhd (SHL Coach), provides an established industrial base to execute this next phase of growth. The timing of this initiative aligns directly with a structural transition across Malaysia’s public transport sector. Prasarana Malaysia Bhd recently confirmed that its ongoing procurement of 310 diesel-engine buses will be its final intake of internal combustion engine vehicles before shifting entirely to electric platforms by 2037. Furthermore, under the National Energy Transition Roadmap (NETR), the national operator plans to integrate over 1,100 electric o Proposed Perak facility to support local assembly and production of electric commercial vehicles, strengthening domestic capabilities

From left: Bus Cap procurement director Alfred Choo, non-independent non-executive director Teoh Keng Chang, Ng, Luo, BYD Malaysia Sdn Bhd managing director Jacob Ma and BYD commercial vehicle division brand director Wang Aihui, following the MoU signing ceremony between Bus Cap and BYD Malaysia in Shenzhen, China.

said Ng. Meanwhile, Luo Zhongliang, vice president of BYD and general manager of BYD commercial vehicle division said they believe the combination of BYD’s new energy vehicle technology and Bus Cap’s local industrial platform can create a strong foundation for electric bus assembly, manufacturing and deployment in Malaysia. Looking ahead, he added, they look forward to working quickly and pragmatically with Bus Cap to evaluate broader new energy commercial and industrial mobility applications, including electric trucks, electric forklifts, electric vans or minibuses and rail transit-related solutions, where market demand, localisation conditions and definitive arrangements support such expansion. “This cooperation also provides an important strategic starting point for both parties to explore future opportunities in the wider Southeast Asian market.” Bus Cap’s existing operations remain anchored by SHL Coach, servicing a highly diversified customer base of transport operators, travel companies, vehicle dealers, and government agencies across Malaysia and Singapore. The group’s long-term vision is to build from its Malaysian bus-manufacturing foundation into a trusted integrated mobility platform serving customers across manufacturing, localisation, after-sales support and lifecycle transportation solutions — guided by its operating philosophy: Build. Connect. Support.

buses between 2025 and 2030, alongside 150 electric feeder buses for the upcoming LRT Shah Alam Line. This structural shift towards electric mobility is expected to create long-term demand for localised electric bus assembly, engineering support, after-sales infrastructure and reliable lifecycle solutions — areas where Bus Cap is positioning itself to play a meaningful role. Bus Cap executive director Bernard Ng Chong Yan said: “The signing of this exclusive MoU with BYD Malaysia marks a defining step in Bus Cap’s post-listing growth journey. BYD brings advanced new energy vehicle technology, solutions and global experience, while Bus Cap brings local manufacturing capabilities, engineering know-how, industry relationships, after-sales infrastructure and an established operating platform.” He added that this is not merely about introducing electric buses into Malaysia but also about building a local industrial platform that can support product localisation, assembly, manufacturing, after-sales and lifecycle mobility solutions. “By combining BYD’s new energy vehicle capabilities with Bus Cap’s local platform, we believe there is a meaningful opportunity to strengthen Malaysia’s electric bus ecosystem and position Bus Cap for the next phase of growth. Our ambition for Bus Cap has always been bigger than simply building vehicles. We want to build, connect and support the full lifecycle of transportation assets — from manufacturing and delivery to after-sales, maintenance and future mobility solutions,”

CHGP, UCSI to develop Melaka Waterfront township

KUALA LUMPUR: Main Market-listed property developer Chin Hin Group Property Bhd (CHGP) has entered into a collaboration with UCSI Group to establish an integrated education hub that will anchor CHGP’s approximately 19.3-acre waterfront masterplan within the Melaka Waterfront Economic Zone. The collaboration marks a significant milestone in CHGP’s vision to develop an education-led mixed-use destination that integrates residential living, education, lifestyle, commerce and future healthcare offerings within a

community growth, talent attraction and long-term value creation across the broader development.” UCSI Group founder and executive chairman Datuk Peter Ng said that UCSI will manage the school’s education and operations, while CHGP will lead the development of the campus. He added that the collaboration aligns with CHGP’s strategy of unlocking landbank value through high-impact developments that diversify growth drivers and support long-term value creation.

The structure enables CHGP to participate in the long-term growth and recurring earnings potential of the education sector while leveraging the operational expertise, proven academic track record and established brand reputation of one of Malaysia’s leading education groups. CHGP property development division group CEO Chang Tze Yoong said: “This partnership strengthens our vision of creating a future-ready waterfront township anchored by quality education. Together with UCSI, we are establishing a key catalyst for

waterfront township comprising serviced residences, retail and lifestyle offerings, educational facilities and a future healthcare component. Under the agreement, CHGP’s wholly owned subsidiary Chin Hin PMC Sdn Bhd, and UCSI will establish a dedicated joint venture company to develop and operate the school, with CHGP holding a 30% strategic equity stake and UCSI holding the remaining 70%. The joint venture company will acquire a designated leasehold land parcel within the development for the campus.

single waterfront community. At the centre of the masterplan will be a purpose-built campus housing UCSI International School and Sekolah Sri UCSI, with capacity for up to 3,000 students and boarding facilities accommodating up to 300 students. The campus will become UCSI’s first school presence in Malacca and is expected to serve as a key catalyst for long-term population growth, talent attraction and economic activity within the precinct. The wider development is envisioned as an integrated