Autobacs Seven and Kit Loong Tayaria sign joint venture agreement

KUALA LUMPUR: Autobacs Seven (AB7) – one of Japan’s largest suppliers of aftermarket automotive parts and services – including tyre-related services and car accessories has acquired a 20% stake in local tyre distribution and retail company Kit Loong Tayaria (KLT).

The strategic partnership between the two companies will allow KLT – a passenger car tyre division of Kit Loong Tyre Group and authorised distributor of Pirelli, Kumho, Corsa and Jinyu tyre brands in Malaysia, to tap into AB7’s expertise in automotive parts.

This includes services and retailing, and will allow KLT to gain access to a vast range of some 30,000 different types of products as well as share best retailing practices between the companies.

“The purpose of our partnership is to develop (KLT) more and strengthen our Tayaria Alliance outlets,” said KLT chief executive officer Jacob Chen.

From left: Chen with Autobacs Seven senior executive – overseas business Yugo Horii.

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