Malton says no material progress on EV motorcycle collaboration with China's BENLG

PETALING JAYA (July 25): Malton Bhd said there has been no material progress in its proposed collaboration with China's Dongguan Benling Vehicle Technology Co Ltd (BENLG) to explore the Malaysian electric vehicle (EV) motorcycle market, about six months after the parties signed a memorandum of understanding (MoU).

In a Bursa Malaysia filing on Friday (July 24), the property developer said there had been no material development since the MoU was executed on Jan 26, 2026.

The MoU was intended to establish the principal terms of a potential collaboration under which BENLG would explore establishing a presence in Malaysia's EV motorcycle market, with Malton identified as its prospective local partner.

BENLG is an EV motorcycle manufacturer with about 20 years of industry experience, operating production bases in Tianjin, Wuxi and Taizhou in China, alongside overseas branches in India, the Philippines, Thailand and Indonesia, according to the January filing.

Under the non-binding MoU, the parties planned to conduct feasibility and market studies on demand for EV motorcycles in Malaysia and the wider Southeast Asian region, engage with Malaysian authorities on establishing an assembly facility, identify suitable factory locations and distribution partners, and determine the project's capital requirements and equity structure.

The January MoU envisaged the parties entering into definitive agreements only after completing feasibility studies and determining that the proposed project was commercially viable and mutually beneficial.

Apart from confidentiality obligations, the MoU does not constitute a legally binding agreement and has no immediate financial effect on Malton's issued share capital, earnings, net assets, gearing or substantial shareholders' interests. The MoU remains valid for nine months from Jan 26, 2026, unless superseded earlier by definitive agreements.

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