Business

Micro receives undisclosed investment from South Korean company

Micro Holdings (Pvt) Ltd yesterday (18) announced a Foreign Direct Investment in its company by SK Group Korea, a Fortune 500 Global Company in Micro Holdings (Pvt) Ltd.

The company, which owns Micro Cars (pvt) Ltd, will utilize the undisclosed investment to develop hotels as well as in the expansion of its automotive arm.

Founder/CEO Dr. Lawrence Perera signed a Memorandum of Understanding (MoU) with SK group for the investment.

This is the second investment SK group allocated after the initial investment made in 2017.

Meanwhile, the company announced that it plans to develop electric vehicles in 2019.