Kuala lumpur: Permaju Industries Bhd's wholly-owned subsidiary Capital Intertrade Sdn Bhd (CISB) is ceasing its Ford dealership operations, having served a notice of company closure and surrender of operations to Sime Darby Auto ConneXion Sdn Bhd (Sime Darby Auto). Permaju said the company is terminating its dealer sales and service agreement and surrendering the Ford dealership which was entered with Sime Darby Auto on April 22, 2011.

According to BERNAMA News Agency, both parties had mutually agreed to cease the operation by July 31, 2026, as stated in a filing with Bursa Malaysia today. 'The termination was served upon deliberating and analysing past performance, current and future possibilities which indicated a lack of sustainability and growth potential,' Permaju said.

Permaju added that it is currently negotiating with other dealerships as a possible replacement and will make an announcement once discussions are finalised. Permaju, which is also involved in property development and plantation businesses, said the termination is not expected to have any material effect on its gearing, earnings per share, net assets, and substantial shareholders' shareholdings for the financial year ending September 30, 2026.

The company also clarified that none of its directors, major shareholders, or persons connected to them have any direct or indirect interest in the termination.