Hap Seng shares up after it buys vehicle distribution business
26 Apr 2018 / 11:56 H.
PETALING JAYA: Hap Seng Consolidated Bhd's share price rose 9 sen or 0.93% this morning, after announcing that it is acquiring Mercedes-Benz Malaysia Sdn Bhd's commercial vehicle wholesale distribution business yesterday.
At 10.53am, the stock stood at RM9.80 with 32,500 shares changing hands. The group has a market capitalisation of RM24.17 billion.
The group told the stock exchange that the acquisition will enable it to participate in the wholesale distribution of the Mercedes-Benz and Fuso commercial vehicles in the growing market in Malaysia.