Strategic “Gold Series” Partnership Taps into Growing Aftermarket Automotive Market
KUALA LUMPUR, 05 JANUARY 2026 – MSB Global Group Berhad (“MSB Global” or the “Group“), a leading player in Malaysia’s aftermarket automotive parts and component industry, today announced that its wholly-owned subsidiary, MSB Machinery Corporation (Malaysia) Sdn Bhd (“MSB Machinery”), entered into a joint venture agreement with Thai Sin Anant Rubber Factory (2516) Co., Ltd. (“TSAR”) to establish a new joint venture company (“JV”) in Thailand, marking a significant step in the Group’s regional expansion strategy.
TSAR, established in 1973, is one of Thailand’s established manufacturers of power transmission belts, specialising in automotive, industrial and agricultural belt applications. With decades of manufacturing experience, TSAR serves a broad customer base across Original Equipment Manufacturer (“OEM”), Original Equipment Supplier (“OES”) and aftermarket automotive segments, supported by its comprehensive product range and deep understanding of regional automotive and industrial requirements. Its long operating track record and strong local market presence make TSAR a strategically complementary partner for MSB Global’s expansion into Thailand’s aftermarket automotive sector.
The joint venture will serve as the sole distributor of automotive parts under the “Gold Series” brand in Thailand, focusing on the importation, distribution and sale of suspension components, shock absorbers and related automotive parts and components. The collaboration combines MSB Machinery’s established product expertise and supplier network with TSAR’s local market presence and operational capabilities in Thailand.
Under the terms of the agreement, the joint venture company which will be incorporated at a later date, will be capitalised at THB5.0 million, with TSAR holding 81% equity and MSB Machinery holding 19%. The board of directors of the joint venture company will comprise 3 directors, with representation from both parties, reflecting shared oversight while leveraging TSAR’s on-the-ground operational leadership.
For MSB Global, the joint venture represents a natural extension of its aftermarket automotive business model beyond Malaysia, building on its existing strengths in car spare parts, lubricants and fluids. Thailand’s mature automotive ecosystem and large replacement parts market offer a compelling platform for the Group to scale its “Gold Series” brand and establish a stronger foothold in Southeast Asia.
Datuk Ow Kee Foo, Managing Director of MSB Global Group Berhad, commented, “This joint venture reflects MSB Global’s disciplined approach to regional expansion. By partnering with a reputable local manufacturer with deep market knowledge, we are able to enter Thailand in a capital-efficient manner while retaining strategic exposure to growth in one of ASEAN’s largest automotive markets.”
He added, “The ‘Gold Series’ brand has been well received in our existing markets, and this collaboration allows us to replicate our distribution-led model in Thailand with the right local execution capabilities. Importantly, the structure of the joint venture ensures operational focus while aligning long-term interests between both parties.”
The joint venture is expected to contribute positively to MSB Global’s earnings over time, although it is not expected to have any immediate material effect on the Group’s share capital or net assets. The agreement does not require shareholder or regulatory approvals and was entered into in the ordinary course of business.
Looking ahead, MSB Global is increasingly confident about the growth potential of its Thailand expansion. Domestic car sales in Thailand rose 20.65% year-on-year to 51,046 units in November 2025, signalling a clear recovery in vehicle demand and a corresponding uplift in the aftermarket replacement cycle. Against this improving industry backdrop, the Group believes the newly established joint venture is well positioned to capture rising demand for quality automotive components under the “Gold Series” brand. Supported by TSAR’s local execution capabilities and MSB Global’s product and sourcing strengths, the collaboration is expected to provide a timely and scalable platform for sustained growth in one of ASEAN’s most important automotive markets.
