The Naza Group still has plans to list the company on the stock exchange. The listing exercise is to raise funds to build a new plant in Bertam, Penang which is estimated to cost about RM1.2 billion as well as new model development.
The plant was announced in 2005 and will have an annual production capacity of 100,000 cars. “It is still on. There is no delay actually. Sometimes, it is the market situation,” said Naza Group head Tan Sri Nasimuddin SM Amin.
It is also expanding it’s Gurun plant, but no targeted production capacity was mentioned. Tenders have been opened for works related to the plant expansion. The Gurun plant currently makes 50,000 units a year.