NWP ventures into motorbike manufacturing
26 Jan 2021
NWP Holdings Bhd’s wholly-owned subsidiary, NWP Access Sdn Bhd, is venturing into the motorbike business by offering a special motorbike programme that is tailored-made, especially for riders for a food delivery platform in Malaysia.
In a Bursa Malaysia filing yesterday, the timber products manufacturer said its unit had signed a letter of intent with car rental company Green Rentals Sdn Bhd on a motorbike programme for Grab riders.
The programme will target prospective and existing riders while offering benefits that include competitive pricing, and a zero downpayment for the motorbikes if buyers fulfil stipulated conditions.
NWP head of group operation Teoh Peak Swee said the group is excited to venture into the new business and tap into the food delivery rider market.
“Our motorbike programmes offer very competitive pricing and on top of that, we also offer zero downpayment for the motorbikes if certain criteria are met. This will substantially lower the financial barriers for prospective food delivery services, which is currently experiencing a significant boom in demand due to the Covid-19 pandemic,” Teoh said.
Teoh added that the group will also set up a new sales gallery and service centre which is slated to open next month in Petaling Jaya. “The sales gallery will have a wide selection of motorbikes and offer after-sales support services, as well as sell motorbike parts and accessories.
“As the trading of motorbikes and provision of after-sales support services will be undertaken by NWP’s in-house team, the group has decided not to proceed with the memorandum of understanding (MoU) with EZ One Bikers Sdn Bhd,” Teoh said.
The centre will be open to the public and have a dedicated and spacious self-service café for riders to take a quick break and rest in between delivery duties.
“We are excited with the prospect of this collaboration as we see huge potential given the size of the industry and the growing demand. This is a very positive development for the group as it enables us to ride on the growth of the food delivery services market, providing us a new income stream,” Teoh noted.
NWP in December last year inked an MoU with EZ One Bikers for discussions on a potential collaboration with or acquisition of the company.
EZ One Bikers is a private limited company incorporated in Malaysia that is primarily involved in the business of trading in all kinds of motorcycles, accessories and related services, according to NWP’s Bursa filing. The
Source: Malaysian Reserve