KUALA LUMPUR, Jan 22 — The Malaysian Automotive Association (MAA) announced that there would be no increase in on-the-road (OTR) prices of complete knock-down (CKD) vehicles this year.

Its president, Datuk Aishah Ahmad said the government, through the Ministry of Finance (MoF), has decided to absorb the differences in OTR prices for certain models up to December 30, 2020.

"This is for models affected by the transparent open market valuation (OMV) calculation method, as outlined in the Customs Gazette P.U.A (402) dated December 31, 2019.

"Any increase in the OTR prices (for the models) would be fully absorbed or exempted by the MoF for this year and the difference in duties for past years will also be exempted, effective immediately,” she told a media briefing on the MAA 2019 market review and 2020 outlook here, today.

Aishah said auto companies have been asked to submit the OMV for the models affected to the Royal Malaysian Customs Department (RMCD) immediately.

"Further consultations will be done by the RMCD, the MoF and industry players to determine the transparent reporting of the OMV after 2020,” she said.

She said according to MAA’s calculations, the government will be absorbing up to RM33,000 per unit through the exercise.

Meanwhile, Aishah said the revised National Automotive Policy (NAP) will be announced in the first quarter of 2020. 

"The NAP 2020 is more or less approved. I was told that the Cabinet has endorsed it and it will be announced in the first quarter of 2020 by the prime minister.

"The Ministry of International Trade and Industry is waiting for the prime minister’ date and time to announce it, so it will be anytime soon,” she said. — Bernama