Artroniq Berhad has entered into a transformative Distribution Agreement with PT. Terang Dunia Internusa, the parent company of Indonesia’s United Motors to import CKD Electic Bikes into Malaysia.
United Motors, a subsidiary of PT. Terang Dunia Internusa, has been an industrial stalwart in Indonesia since its inception in 1971. Transitioning from a spare parts importer to an electric mobility pioneer, the company has launched a diverse line of electric motor products under the United E-Motor brand.
Under this Distribution Agreement, Artronic Itech Sdn Bhd, a wholly-owned subsidiary of Artroniq, is appointed by PT. Terang Dunia Internusa as the exclusive distributor for electric motor products in Malaysia. Products will be purchased in a Completely Knocked Down (CKD) state and assembled at Artronic Itech’s factory in Malaysia.
Mr. Marcus Chin Choon Wei, CFO of Artroniq said the agreement will fortify its position as a key player in the ASEAN region’s electric mobility sector and underscores our unwavering dedication to reducing environmental impact while driving progress.”
As at 11 September 2023, the share price of Artroniq is RM0.82, representing a market capitalisation of RM323 million.
