KUALA LUMPUR (April 6): Hong Leong Industries Bhd's subsidiary HLY Marine Sdn Bhd has been appointed the exclusive re-seller and distributor of Yamaha Marine outboard motor products in peninsular Malaysia.

The agreement which was signed between HLY Marine and Yamaha Motor Co Ltd (YMC) at YMC’s headquarters in Iwata, Japan, will see HLY Marine putting in place its 3S offerings which cover sales, service and spare parts of Yamaha Marine outboard motor products.

These outboard motor products comprise the whole range of lightweight, heavyweight and portable efficient power outboard motors, said HLY Marine in a statement.
 
HLY Marine said its headquarters will be based in Sungai Buloh, Selangor, and would house a central service centre outfitted by YMC.

“Naturally, we are excited by this appointment and have every confidence in the partnership. HLY Marine has the necessary expertise, and is also well positioned, to provide the level of quality and service that would be required by its clients,” said Datuk Jim Khor, HLY Marine director.

Usui Hirofumi, the executive officer and senior general manager of YMC's marine business operations, said: “We look forward to working very closely and confidently with our exclusive distribution partner HLY Marine, towards forging a new and stronger distribution network in the Peninsular Malaysia.”

Hong Leong Industries shares closed unchanged at RM9.50 today, giving it a market capitalisation of RM3.04 billion.