This bass seem to be a brother of Migma Elektra guitar. They were made in DDR in the 60's - 70's. The body finish is red pearloid plastic, but underneath it's wooden. White pickups are probably from the early production period, and later they were changed to something that looks like this.

Migma guitars was the unified standard guitar company of the GDR. They built quite unreliable and bad sounding instruments which couldn't hold tune for long and definitely lost it above the 7th fret. I played one (the hollow body version though) for a couple of years, I really loved that instrument but I just have to admit that it sucked.


Credits:
ebay.de
sr. krankhummer