7-Eleven Malaysia buys into ride-hailing service

7-Eleven Malaysia Holding has acquired a 46.45-per-cent equity stake in local delivery firm Myinteractivelab (MSB) for US$1.8 million.

According to a SEM’s spokesperson, the company entered into an agreement to accquire 490,030 shares of MSB with founder Nabil Fiesal Bamadhaj, who is the owner of Dego Rides, which launched on January 1.

“The subscription represents an opportunity for the SEM Group to acquire a substantial equity stake in MSB, which will be undertaking the e-hailing bike services and to provide convenient delivery services for its 7-Eleven outlets,” SEM said in a stock-exchange filing.

MSB, which operates Dego App, Dego Partners, and Dego Orders, is currently in the process of securing the licence and approval to run electronic hailing motorcycle-taxi services.

The government had recently announced it would embark on a proof of concept trial for e-hailing bike services in the Klang Valley for the first six months this year.

“The government’s initiative in undertaking the program is a positive step and augurs well with the proposed subscription as Dego Ride is the only company in Malaysia, besides Singapore’s GrabBike and Indonesia’s Gojek, which has indicated its interest in the program,” said SEM’s spokesperson.

With 1500 riders and more than 60,000 users in three months before it was banned by the government in 2017, Dego Ride aims to increase its rider number to more than 4000.