- Acquisitions of Acacia and Handal BCM marked the Group’s expansion into commercial vehicle assembly and distribution.
- Shareholders approved the company’s strategic diversification into a fully integrated solutions provider in the commercial vehicle value chain.
KUALA LUMPUR, 26 February 2026 – HI Mobility Berhad (“HI Mobility”, “the Group”), an established local and cross-border bus operator in the mass transit sector, today announced that shareholders have approved all resolutions at its Extraordinary General Meeting (“EGM”), paving the way for the Group’s strategic expansion into the commercial vehicle value chain.
Shareholders approved the acquisitions of Acacia Motor Services Sdn Bhd (“Acacia”) and Handal BCM Sdn Bhd (“Handal BCM”) for a total consideration of RM82.5 million. These transactions will be satisfied entirely through the issuance of 34.4 million new HI Mobility shares at RM2.40 per share, representing 6.4% of the enlarged share capital. The proposed diversification of HI Mobility’s principal activities was also approved.
These acquisitions position HI Mobility to become a fully integrated commercial vehicle solutions provider, in line with Malaysia’s commitment to procuring EV and diesel buses. Acacia’s assembly and aftersales capabilities, together with Handal BCM’s established distribution network, are expected to enhance the Group’s competitiveness and support capital-efficient, scalable growth.
Approval of the proposed diversification will now enable HI Mobility to expand its principal activities to include manufacturing, assembly production, distribution, selling, maintenance and repair of commercial motor vehicles. This allows HI Mobility to develop new, complementary income streams and strengthen its long-term earnings resilience.
HI Mobility Executive Director and Chief Executive Officer Lim Chern Chuen said, “We are deeply grateful for our shareholders’ support. Acacia and Handal BCM have strong operational synergies that position us well to deliver integrated, end-to-end solutions across the commercial vehicle value chain, including the EV ecosystem. With Acacia’s secured orders for 298 buses scheduled for delivery by third quarter of 2026, we now have stronger earnings visibility and a solid foundation for sustainable long-term growth.”