KUALA LUMPUR, March 29 — The International Trade and Industries Ministry (MITI) will conduct a detailed review on new companies receiving approved permits (AP) to import vehicles.
Deputy Minister Ong Kian Ming said in a statement today that his ministry has received complaints and reports that some of these companies did not comply with the conditions to receive AP.
“After MITI’s statement on March 13 and March 14, 2019, we received a few complaints and reports regarding some of the companies that did not comply to the terms and conditions including lacking finances and no experience in automotive sales and distribution.
“We also received reports that these companies plan on selling the AP allocated to them to a third party. Based on these complaints, MITI will review the latest information from these companies,” said Ong.
MITI will review each company’s Memorandum and Articles of Association, Companies Commission data including key financial information, statement of accounts from 2015 to 2018, tax declaration to the Inland Revenue Board from 2016 to 2018, EPF payments from January to March 2019, and local council licence from 2017 to 2019.
All the documents must be sent to MITI in seven working days from the date the letter was issued.
Failure to comply could have an adverse impact on any AP request made by the companies in the future.
MITI will also conduct scheduled audit on the companies that have received the AP.
The 36 companies under review are:
Ameran Motor Sdn Bhd, Aspirasi Utara Sdn Bhd, Bayangan Dinamik Sdn Bhd, Bumi Muhibah Motors Sdn Bhd, D One Motorsports Sdn Bhd, Dee Z One Auto Sdn Bhd, Erakars Sdn Bhd, Farekna Auto Sdn Bhd, Faresh Motor M Sdn Bhd, Go Daddy Motorsports Autotrade Sdn Bhd, Greater Tampin Sdn Bhd, Immonaaz Sdn Bhd, Ingress Auto Sdn Bhd, Izuwan Automobile Sdn Bhd, JLA Motorsport Sdn Bhd, Kuala Lumpur & Temasek Enterprise Sdn Bhd, MJ Motors Sdn Bhd, NJ Resources Sdn Bhd, Noble Country Sdn Bhd, Northmont Capital Sdn Bhd, Paccar Motor Sdn Bhd, PMSK Sdn Bhd, Premium Proaktif Sdn Bhd, Proedar Auto (M) Sdn Bhd, Promacro Sdn Bhd, Sakan Auto Sdn Bhd, Sayap Niaga Sdn Bhd, Serangkai Automobiles Sdn Bhd, SH Warisan Cergas Sdn Bhd, Shawna Integrated Sdn Bhd, SRS Automobile Sdn Bhd, SS Luxury Auto Trading Sdn Bhd, Suria Motor (M) Sdn Bhd, Tahap Puncak Sdn Bhd, Teras Sari Auto Sdn Bhd and Tifosi Uno Sdn Bhd.