OSK Acquires Wilayah Credit, Enters Motorcycle Financing Business

OSK Holdings Bhd is expanding its business by venturing into motorcycle financing through the acquisition of hire purchase financing company Wilayah Credit Sdn Bhd for RM16.50 million.

In a statement to Bursa Malaysia today, the conglomerate said its wholly owned subsidiary, OSK Retail Capital Sdn Bhd (OSKRC), had signed a share sale agreement with Platinum Moment Sdn Bhd, the sole owner of Wilayah Credit.

“The proposed acquisition will enable OSK’s consumer financing business to grow by entering the motorcycle financing sector, in line with OSK’s strategy to diversify its consumer financing offerings,” the statement said.

Upon completion of the acquisition, OSK will arrange for Wilayah Credit to sell three properties it currently owns in Kuala Lumpur back to Platinum Moment for RM12.60 million.

The acquisition is expected to be completed by the third quarter of 2025, OSK said.

Wilayah Credit has an issued and paid-up share capital of RM10 million, comprising 10 million ordinary shares.

— BERNAMA