The Malaysia Automotive Robotics and IoT Institute (MARii) and the Indonesia Automotive Institute (IOI) inked a memorandum of understanding (MoU) on collaborating to advance the automotive industry of both countries.
Sime Darby Bhd is acquiring a 61.2% stake in UMW Holdings Bhd from Permodalan Nasional Bhd for RM3.57 billion in cash to further scale up and strengthen its presence in the Malaysian automotive sector.