Msb Global Group Berhad (Malaysia)

The Company was incorporated in Malaysia under the Companies Act 2016 on 12 November 2021. Subsequently on 9 July 2024, the Company was converted to a public limited company under the name of MSB Global Group Berhad.
The Company s principal activity is investment holding company. Through subsidiaries, the company are principally involved in the marketing, trading and distribution of aftermarket automotive parts and components as well as automotive lubricants and fluids.
On 1 July 2024, the Company entered into a Conditional Share Sales Agreement to acquire the entire issued share capital of MSBSB and GSPISB comprising 1,000,000 and 1,000,000 ordinary shares respectively for the total purchase consideration of RM35,345,700 which has been fully satisfied via the issuance of 476,999,999 new ordinary shares in the Company at an issue price of RM 0.0741 per share, to the vendor. The purchase consideration was arrived at on a willing-buyer-willing-seller basis, after taking into consideration of the audited net assets position of MSBSB and GSPISB respectively, as at 31 December 2023.
On 1 July 2024, Option letter between Datuk Ow Kee Foo and MSBSB in relation to the granting by Datuk Ow Kee Foo of an option to MSBSB to rent the Ulu Tiram Land for the 1st period, renewable for 2 consecutive 3 years period each, upon the terms and conditions set out in the tenancy agreement to be entered into by the parties, The rental rate for the 1st period shall be RM35,000 per month and thereafter at each renewal the rental may be adjusted provided always any increase will be subject to a maximum of 5.00 of the then rental payable. The Option is exercisable at any time between the date of acceptance of the Option by MSBSB and for a period of 1 year from the date of the Option or 1 year from the date of Listing, whichever shall be the later, subject to the completion of the Conversion.
On 9 July 2024, the Company converted the status of the Company from private limited liability company to public limited liability company under the name of MSB Global Group Berhad.