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BUSINESS • 13/07/2026 09:13 PM

Milux Proposes To Acquire 100 Pct Stake In Movon For RM150 Mln

KUALA LUMPUR, July 13 (Bernama) -- Home appliance distributor Milux Corporation Bhd has proposed to acquire a 100 per cent equity interest in Movon Sdn Bhd from Abletech Solutions Sdn Bhd (ASSB) and Datuk Dr Lim Jee Gin for RM150 million.

In a filing with Bursa Malaysia today, Milux said it had entered into a conditional share sale agreement with ASSB and Lim (the vendors), as well as Movon and parties nominated by ASSB, for the proposed acquisition.

According to Milux, the proposed acquisition involves 298.15 million ordinary shares in Movon, representing 100 per cent of the company’s shares.

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The RM150 million purchase consideration will be satisfied entirely through the allotment and issuance of 220.59 million new Milux shares at an issue price of 68 sen per share, it said. 

“The proposed acquisition is aligned with the group’s strategy to strengthen its position in the home appliances and household products segment by offering a more comprehensive range of products and services,” it said.

It said the proposed acquisition will expand Milux’s distribution channels beyond authorised dealer stores and e-commerce platforms by providing immediate access to Movon’s direct selling network of registered sales agents nationwide.

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“Additionally, the Milux Group’s revenue is currently generated predominantly through conventional outright sales, where products are sold to authorised dealers for onward retail sale to end-customers, with a smaller portion contributed by rent to own (R2O) schemes.

“The proposed acquisition will enable the company to tap into Movon’s more established and proven R2O infrastructure which offers greater payment flexibility to customers (compared to traditional outright sales), wherein it involves lower upfront costs,” it said. 

Milux added that following the proposed acquisition, the enlarged group will be able to offer greater product diversity, a multi-channel distribution network and more innovative payment structures through Movon’s more established R2O schemes.

“Hence, the proposed acquisition is expected to strengthen the enlarged Milux Group’s market coverage within the home appliances segment, customer access as well as enabling the enlarged Milux Group in penetrating new target markets which include households with limited income and consumers that are tech-savvy,” it said. 

-- BERNAMA  

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