Automotive chassis components manufacturer, China Automobile Parts Holdings Ltd, staged a strong debut on Bursa Malaysia Securities as BERNAMA reported today.
It debut on the main market of Bursa Malaysia Securities at 80 sen, for a 12 sen premium above its offer price of 68 sen, with 7.77 million shares transacted at 9.00 am. The China-based company is the first to be listed on the local bourse this year.
Moving forward, the company will focus on solidifying its presence in China and expanding distribution to the provinces of inner Mongolia, Ningxia, Gansu and Xinjiang, due to strong encouragement from China’s government to develop the automotive industry, said Managing Director Terry Li.
“The market in China is still very big and production in China has an advantage,” Li told a press conference in conjunction with the company’s debut on Bursa Securities.
Today, the company’s parts are distributed in 17 provinces in China and exported to Southeast Asia, the Middle East and South Africa. The company’s products are also sold in the Malaysian market.