The Ministry of International Trade and Industry (MITI) has granted Appoved Permits for all CBU models imported by DRB-HICOM into Malaysia. DRB-HICOM currently brings in the Chevrolet, Citroen, Honda, Mahindra, Suzuki, Audi and Mitsubishi marques. Before this, there was a problem in the AP policy where public listed companies could not qualify for APs because they did not have the required amount of bumiputra shareholders even if they were bumiputra-controlled. Of course, APs are for bumiputras only and being public listed, it’s hard to control the amount of bumiputra shareholding in the company.
The APs for DRB-HICOM’s cars are awarded to it’s wholly owned subsidiary DRB-Hicom Auto Solutions Sdn Bhd. The AP kings Syed Azman and Mohd Haniff will not be able to mint free money anymore.
How franchise AP holders make their money almost for free