Another casually reported.....Here in MY
https://theedgemalaysia.com/node/803111Permaju Industries Bhd (Bursa Malaysia listed KL:PERMAJU) announced that it is exiting its Ford dealership business after about 15 years, after its wholly owned unit Capital Intertrade Sdn Bhd has moved to cease operations.
In a filing on Bursa Malaysia, the motor vehicle distributor said Capital Intertrade had served a “notice of company closure” and “surrender of operations” to Sime Darby Bhd’s (KL:SIME) wholly owned unit Sime Darby Auto ConneXion Sdn Bhd (SDAC) — the sole distributor of Ford in Malaysia.
The notices would effectively terminate its dealer sale and service agreement with SDAC, which the parties had first entered on April 22, 2011. Both parties have mutually agreed to end operations by July 31, 2026.
Permaju, who also used to distribute Volkswagen cars, said the decision followed an internal review of the dealership’s historical performance and prospects.
“The termination was served upon deliberating and analysing past performance, current and future possibilities which indicated a lack of sustainability and growth potential,” said Permaju in the filing.
The group added that it is in discussions with other potential dealership partners as it seeks a replacement business, with further announcements to be made once plans are finalised.
Permaju, which has been loss-making since the financial year ended Dec 31, 2007, said the closure is not expected to materially affect its gearing, earnings per share, net assets and substantial shareholders’ shareholdings for the financial year ending Sept 30, 2026.
For its first quarter ended Dec 31, 2025 (1QFY2026), the group reported a net loss of RM7.2 million and revenue of RM3.59 million. The losses were mainly due to quoted investments made in the previous period, said Permaju in a separate filing. Meanwhile, its main business segment — automotive — also saw fewer sales, only having sold 13 units of Ford Ranger cars during the quarter.
Permaju’s shares have declined 90.6% over the past year. At market close on Monday, the group’s shares closed up by half a sen to one sen, giving it a market capitalisation of RM19.6 million.