MSB Global Group Bhd’s wholly owned subsidiary, MSB Machinery Corporation (Malaysia) Sdn Bhd, has entered into a joint venture (JV) agreement with Thai Sin Anant Rubber Factory (2516) Co Ltd (TSAR) to establish a new company in Thailand, marking a step in the group’s regional expansion strategy.
According to a Bursa Malaysia filing, the JV will act as the exclusive distributor of automotive parts under the Gold Series brand in Thailand, focusing on the import, distribution, and sale of suspension components, shock absorbers, and related automotive parts.
The collaboration leverages MSB Machinery’s product expertise and supplier network alongside TSAR’s local market presence and operational capabilities, the statement said.
The new company, to be incorporated at a later date, will have a paid-up capital of 5 million baht, with TSAR holding 81% and MSB Machinery 19%.
MSB Global managing director Datuk Ow Kee Foo said the JV reflects the company’s disciplined approach to regional growth, allowing it to enter the Thai market in a capital-efficient way while maintaining strategic exposure in one of ASEAN’s largest automotive markets.
The group expects the JV to contribute positively to earnings over time, with no immediate material impact on its share capital or net assets.
MSB Global also noted that Thailand’s automotive market is recovering, with domestic car sales rising 20.65% year-on-year to 51,046 units in November 2025, supporting demand for aftermarket replacement parts. The company believes the new JV is well positioned to capture growing demand for high-quality automotive components under the Gold Series brand.
