KUALA LUMPUR (Jan 27): Greentronics Technology Bhd (KL:GREENTEC) has roped in Thai general insurance company Thai Paiboon Insurance Public Company Ltd (TPB) to provide digital insurance services for Malaysian motorists entering Thailand.
This partnership was signed between Thai Paiboon and Greentronics’s subsidiary Mpire Mobility Sdn Bhd, which focuses on fleet management.
Formerly known as Mpire Global Bhd and Sand Nisko Capital Bhd, the company said in a statement that the partnership will see Thai Paiboon Insurance’s Malaysian customers gain access to Mpire Mobility’s one-stop automotive service, repair and maintenance platform, which connects car owners directly to authorised workshops for service and repair needs.
Customers will be able to utilise Mpire Mobility’s Jom MyServis mobile app to request roadside assistance and logistical support, including arrangements to return vehicles to Malaysia for repairs and claims.
Thai Paiboon Insurance currently holds the largest general insurance portfolio for Malaysian cars entering the region south of Thailand. It will provide insurance-related services for Malaysian motorists via Mpire Mobility’s digital platform, alleviating concerns related to language barriers, communication challenges, and the complexity of the claims process.
Greentronics executive chairman Datuk Billy Goh Soo Wee said through entry into Thailand’s digital insurance industry, the company will continue to expand the Mpire Mobility business while capitalising on rising Malaysia-Thailand cross-border travel.
Thai Paiboon Insurance managing director Eugene Foong said the integration of digital platforms and coordinated aftersales processes allows the company to improve communication, streamline claims handling, and deliver a more seamless experience for customers.
According to AskEdge, Greentronics shows negative trailing twelve-month earnings before interest tax depreciation and amortisation margins of 12.9%, coupled with a negative 16% return on equity.
On Tuesday, Greentronics’s share price ended 1.5 sen or 6.38% higher at 25 sen, giving the group a market capitalisation of RM225 million. Since the start of this year, the stock has risen 66.67% or 10 sen from 15 sen.