Dego Ride operator stake to be taken up by 7-Eleven

Dego Ride operator stake to be taken up by 7-Eleven

01/02/2020

Convenience store chain 7-Eleven Holdings is injecting RM7.51 million into Myinteractive Sdn Bhd (MSB) and taking up a 46.45% stake, The Edge Markets reports. MSB is 95.23% owned by founder Nabil Fiesal Bamadhaj, who was the operator of motorcycle ride sharing firm Dego Ride; motorcycle taxi services were outlawed by the Malaysian government in January 2017.

Key activities carried out by MSB include the provision of delivery services, web development, design and consultation services. It is also the operator of mobile apps Dego App, Dego Partners and Dego Orders. Motorcycle ride-hailing companies such as Dego Ride will be allowed to commence operations under a pilot project this month, transport minister Anthony Loke said in November.

“The government’s initiative in undertaking the POC programme 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 to participate in the POC programme,” 7-Eleven said.

The e-hailing motorcycle services are expected to boost the local economy by creating job opportunities for youth in the country when implemented, and the project will also be undertaken to provide delivery services for its convenience stores, the company added.

During the proof of concept period, riders and their motorcycles must be clearly identifiable, while the motorcycles used must be no more than five years old, and riders and passengers must be insured. “The PoC will also allow the government and companies involved to gather data, assess the availability and demand levels and other services related to bike-hailing,” Loke said in November.

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