PETALING JAYA: CSH Alliance Bhd is proposing to acquire three adjoining plots of industrial land totalling 55.32 acres in Tanjung Malim, Perak, for RM12mil cash.

       CSH said its wholly owned subsidiary Alliance EV Sdn Bhd (AEV) had entered into a sale and purchase agreement with Medium Visa Sdn Bhd and Harapan Iringan Sdn Bhd for the proposed acquisition.

       CSH Alliance said AEV intends to acquire the land for its completely-knocked-down (CKD) assembly plant for its electric vehicles (EV) business.

       It said AEV has partnered with BYD Malaysia Sdn Bhd, which is part of the BYD Group, for the distribution and marketing of the BYD T3 model EV.

       “The BYD Group is a leading global car and battery maker based in Shenzhen, China.

       “The BYD T3 is a fully electric commercial vehicle ideally suited for use by the logistics and transportation industries,” said CSH Alliance in a filing with Bursa Malaysia yesterday.

       It added that BYD has appointed AEV as the distributor for the BYD T3.

       “AEV will also provide 4S services (sales, service, spare parts and body and paint services) to customers.

       “The companies have also expressed their intentions to explore commissioning a local CKD assembly plant for the EV in Malaysia to support local businesses and create employment opportunities for Malaysians.

       “The land acquisition is also part of AEV’s strategic efforts in meeting the International Trade and Industry Ministry’s requirements to have completely-built-up, CKD and local assembly plant in the car manufacturing sector. We are preparing this requirement in advance.”

       CSH Alliance’s business segments include ceramic, construction and property division, financial services and transportation and logistics.

       The group said it believes that AEV is able to assist the Malaysia government to achieve zero-emission mission and also other businesses in adopting environmental, sustainable and governance in their business approach.

       “Under the 12th Malaysia Plan (12MP), the government made initiatives to encourage the adoption of EV in the country by providing tax incentives for EV ownership.”

       In accordance with the 12MP, CSH Alliance executive director Peter Yap said the acquisition of the land in Tanjung Malim, which is adjacent to Proton City, is part of the group’s strategic plan to develop a CKD assembly plant in Malaysia.

       “Coincidentally, our government has just announced the development of the Automotive High-Tech Valley, which is located in Tanjung Malim and has the potential to be an EV manufacturer hub for Asean,” he said.