BUS Cap Bhd, Malaysia’s first pure-play bus builder on Bursa Malaysia, has sealed an exclusive memorandum of understanding (MOU) with BYD Malaysia Sdn Bhd in Shezen, China to jointly advance a Malaysia-based new energy commercial vehicle (NECV) platform.
The initiative is anchored by the proposed establishment of a localised electric bus assembly and manufacturing facility in Perak.
The collaboration is expected to cover product localisation, sales, marketing and distribution; comprehensive after-sales services; local assembly and manufacturing; and the evaluation of an appropriate investment and operating structure to support the proposed platform.
Over time, the parties may evaluate the potential extension of the cooperation beyond electric buses into other new energy commercial and industrial mobility applications.
They include electric trucks, electric forklifts, electric vans or minibuses and rail-transit-related solutions subject to market demand, technical feasibility and definitive agreements.
This proposed cooperation represents a major post-listing milestone for Bus Cap.
While bus manufacturing remains the group’s operating foundation, the MOU provides a clear industrial pathway for Bus Cap to participate in Malaysia’s electric commercial vehicle transition – from traditional bus-building towards localised electric bus manufacturing, after-sales support and lifecycle mobility solutions.
Perak, the site of Bus Cap’s manufacturing heritage since 1968 through its flagship subsidiary Sin Hock Leong Coach Works Sdn Bhd (SHL Coach), provides an established industrial base to execute this next phase of growth.
Bright future
The timing of this initiative aligns directly with a structural transition across Malaysia’s public transport sector.
Prasarana Malaysia Bhd recently confirmed that its on-going procurement of 310 diesel-engine buses will be its final intake of internal combustion engine vehicles before shifting entirely to electric platforms by 2037.
Moreover, under the National Energy Transition Roadmap (NETR), the national operator plans to integrate over 1,100 electric buses between 2025 and 2030 alongside 150 electric feeder buses for the upcoming LRT Shah Alam Line.
This structural shift towards electric mobility is expected to create long-term demand for localised electric bus assembly, engineering support, after-sales infrastructure and reliable lifecycle solutions – areas where Bus Cap is positioning itself to play a meaningful role.
“BYD brings advanced new energy vehicle technology, solutions and global experience while Bus Cap brings local manufacturing capabilities, engineering know-how, industry relationships, after-sales infrastructure and an established operating platform,” enthused Bus Cap’s executive director Bernard Ng Chong Yan.
“This is not merely about introducing electric buses into Malaysia. It’s about building a local industrial platform that can support product localisation, assembly, manufacturing, after-sales and lifecycle mobility solutions.”
By combining BYD’s new energy vehicle capabilities with Bus Cap’s local platform, Ng foresees a meaningful opportunity for Bus Cap to strengthen Malaysia’s electric bus ecosystem and position the group for the next phase of growth.
“Our ambition for Bus Cap has always been bigger than simply building vehicles. We want to build, connect and support the full lifecycle of transportation assets – from manufacturing and delivery to after-sales, maintenance and future mobility solutions,” he added.
Meanwhile, BYD’s vice-president Luo Zhongliang expects its exclusive MOU with Bus Cap to represent an important step in evaluating the electric commercial vehicle opportunity in Malaysia.
“Bus Cap brings an established local manufacturing foundation, customer access, after-sales capability and market understanding which are important elements for the successful localisation of electric buses,” he asserted.
“We believe the combination of BYD’s new energy vehicle technology and Bus Cap’s local industrial platform can create a strong foundation for electric bus assembly, manufacturing and deployment in Malaysia.”
Added Luo is also BYD’s Commercial Vehicle Division general manager:
We look forward to working quickly and pragmatically with Bus Cap to evaluate broader NECV and industrial mobility applications, including electric trucks, electric forklifts, electric vans or minibuses and rail-transit-related solutions where market demand, localisation conditions and definitive arrangements support such expansion.
This cooperation also provides an important strategic starting point for both parties to explore future opportunities in the wider Southeast Asian market.
Bus Cap’s existing operations remain anchored by SHL Coach by servicing a highly diversified customer base of transport operators, travel companies, vehicle dealers and government agencies across Malaysia and Singapore.
At the close of today’s (Aug 19) mid-day trading, Bus Cap was up 3 sen or 5.56% to 57 sen with 11.48 million shares traded, thus valuing the company at RM219 mil. – Aug 19, 2026
