SGX-listed BM Mobility Ltd has launched its own brand of electric bike-sharing service Revgo in Malaysia while Bursa-listed Axis REIT has acquired an industrial facility for RM18.5 million ($4.5 million) in Negeri Sembilan, Malaysia.
BM Mobility launches bike-sharing service in KL
SGX-listed BM Mobility Ltd has launched its own brand of electric bike-sharing service Revgo in Malaysia, which is now available at the University of Malaya in Kuala Lumpur, it said in a press release today.
It had a soft launch in July and has garnered about 1,000 registered members. Some 170 Revgo bikes have been rolled out in the campus. Revgo operates under Malaysia-based car-sharing business UNiRIDE Ecotour Sdn Bhd, which BM Mobility acquired early this year.
Following the acquisition, BM Mobility added third-party brands of electric scooters to UNiRIDE’s rental fleet, besides the company’s energy-efficient car fleet. BM Mobility said it is looking to introduce Revgo bike-sharing service to other varsities in Malaysia through collaboration or franchising.
Axis REIT buys industrial asset
Bursa-listed Axis REIT has acquired an industrial facility for RM18.5 million ($4.5 million) cash in Negeri Sembilan, Malaysia, it said in a stock filing today.
Its manager Axis REIT Managers Bhd (ARMB), via the REIT’s trustee, RHB Trustees Berhad, had entered into a sale and purchase agreement with Gandour (Malaysia) Sdn Bhd to acquire the property which has a land area of 183,342 sq ft comprising a three-storey office annexed with a 1.5-storey warehouse factory and other ancillary buildings.
The freehold property is located within the Senawang Industrial Park and currently tenanted to Nippon Wiper Blade (M) Sdn Bhd for a fixed 10-year lease which had commenced on 1 July 2016. The acquisition is expected to be completed by the end of 2018, and will increase the number of properties owned by Axis REIT to a total of 45 properties from the current 42.
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