KUALA LUMPUR: DRB-Hicom Bhd is expanding presence in the aftersales services market via a joint venture with the world's fifth largest fast-fit service brand, Petromin Express, a subsidiary of Petromin Corp (Petromin).
DRB-Hicom subsidiary, Edaran Otomobil Nasional Bhd (EON) today signed a joint-venture agreement with Saudi Arabia's Petromin to venture into fast-fit vehicle servicing.
The company said the proposed new joint venture will be 51:49, shared between Petromin and EON.
This joint venture aims to capture a fast and growing aftersales segment that closely aligns with the strategic objectives of both parties, it said.
DRB-Hicom group managing director Datuk Seri Syed Faisal Albar said Petromin's collaboration with DRB-Hicom will allow it enter into the lucrative Malaysian aftersales servicing market by partnering with a well-established and trusted corporate brand in the automotive sector.
"Their know-how and experience coupled with DRB-Hicom's market intelligence and customer reach will create an ideal synergy that will propel this partnership to great heights
"At the same time, we will be offering a new, affordable and convenient service to Malaysians," he said.
Meanwhile, Petromin managing director of India and Southeast Asia Sanjay Nigam said the collaboration comes at an opportune time with customer relationships with original equipment manufacturer's (OEM) changing the dynamics of today's automotive market.
"As market leaders in the Kingdom of Saudi Arabia, Petromin brings to bear its vast customer centric, end-to-end mobility solutions, into the competitive Malaysian market.
"Our partnership with DRB-Hicom will help both parties develop strategies to enhance customer experience," said Sanjay.