Malton says MoU with Ho Wah Genting to venture into EV sales has expired

KUALA LUMPUR (March 29): Property developer Malton Bhd said its memorandum of understanding (MoU) with Ho Wah Genting Bhd to collaborate in the electrical vehicle (EV) business has expired.

“The Board of Directors of Malton wishes to announce that the validity period of the MoU, which was in force for a period of 12 months, has expired on March 25, 2022,” said Malton in a bourse filing.

Malton had proposed to invest in Ho Wah’s subsidiary HWGB EV Sdn Bhd, which had intended to introduce EVs in Malaysia. 

The group, in its filing, did not say as to why there was no development with regards to the EV plan.

Malton’s shares price closed up 0.5 sen or 1.16% at 43.5 sen on Monday (March 28), for a market capitalisation of RM230 million.

Ho Wah Genting rose 0.5 sen or 3.57% to 14.5 sen, valuing the company at RM93 million.

Edited by S Kanagaraju.

Get the latest news @

Subscribe to our Telegram channel for the latest stories and updates

Click here for more property stories

Like our content? Check out Narratives – where we curate stories based on topics to keep you well and broadly informed about Malaysian real estate.

Looking for property? Check out Location Scan, where we summarize all available options and facts you need in a few clicks. We have updated the tool to include MRT3 stations too.

Curious how much you can borrow? Use LoanCheck to get your maximum loan eligibility from various banks, or LoanReport to get a FREE CTOS/CCRIS credit report.
  1. Malton in talks to sell Pavilion Bukit Jalil Mall to Pavilion REIT
  2. Federal Court grants leave to developer, DBKL to appeal in Taman Rimba Kiara case
  3. Nan Hai-Malton JV enters next bidding phase for Taipei project