Any bumiputera company can apply for open approved permits (APs) beginning from July 1, 2024, says MITI

Any <em>bumiputera</em> company can apply for open approved permits (APs) beginning from July 1, 2024, says MITI

The ministry of investment, trade and industry (MITI) has announced that effective July 1 this year, any bumiputera company can apply to be appointed as an open approved permit (AP) company to engage in vehicle importation and sales activities in Malaysia.

As reported by Bernama, this offer is also extended companies that have never been involved the automotive sector. In a statement, MITI said the move is in line with its efforts to increase inclusiveness and transparency in the open AP application process.

“The implementation of this policy is expected to attract more bumiputera companies to engage in the automotive industry. The increase in the number of companies will make this segment more competitive,” read the statement. Any company that wants to secure open APs must meet several conditions, including Sendiri Berhad (Sdn Bhd) status, 100% bumiputera ownership, a minimum paid-up capital of RM1 million and be in operation for at least two years.

MITI said that since the open AP policy’s implementation in 1970, it has produced viable bumiputera companies that are not only in the business of importing and selling vehicles, but also in key activities along the supply chain such as after-sales service, insurance and logistics.

It added that the government’s main objective is to is to continue empowering the bumiputera socio-economic agenda by giving more competitive entrepreneurs the opportunity to be involved in the automotive sector.

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Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.

 

Comments

  • Zaman Jahiliah Malaysia 2022 - Kini on Jun 18, 2024 at 7:11 pm

    Simple! Just don’t buy recon cars

    Like or Dislike: Thumb up 44 Thumb down 4
    • All fully imported cars sold by authorised dealers need a AP. By doing this hopefully cost of AP will come down and make asean assembled cars cheaper for consumers. Currently only a handful control the market. Cost of AP currently can be about RM40k. That makes it uncompetitive to bring asean assembled cars into this country. That will also explain why Subaru ceased it’s local assembly as it will be cheaper to import cars from Japan.

      Like or Dislike: Thumb up 3 Thumb down 3
  • Remember, guys … 3R is an offense. Be careful what you type :-)

    Like or Dislike: Thumb up 26 Thumb down 10
  • Kea Was on Jun 18, 2024 at 8:20 pm

    Yay its all part of the plan since the investment man said you guys will ensure safer Ev cars for Malaysia > so thank you

    Like or Dislike: Thumb up 3 Thumb down 0
  • Langitputra mcm mane..xleh buy ke…ptuiii..

    Like or Dislike: Thumb up 2 Thumb down 0
  • jneydrk on Jun 19, 2024 at 7:31 am

    One by one monopolies being dismantled. Touch n go, eggs importer and more to come. Tesla direct import without ali baba’s AP is the clearest hint of this. More competition, more benefit to user.

    Like or Dislike: Thumb up 18 Thumb down 0
  • kenny lim on Jun 19, 2024 at 7:46 am

    I thought it was abolished…but then, most car manufacturers are aware of this, they rather CKD than giving money for nothing

    Like or Dislike: Thumb up 3 Thumb down 1
  • Ben Yap on Jun 19, 2024 at 8:13 am

    if in US, permits are given only to the whites, it will cause a major stir for racism. In malaysia, it is permissible.

    Like or Dislike: Thumb up 25 Thumb down 3
    • rubbish on Jun 19, 2024 at 1:36 pm

      yes you are partly correct.. but to be more specific the jews are in control of the USA economy, politics, agriculture, technology.. what did i miss?

      Like or Dislike: Thumb up 3 Thumb down 12
      • You missed out the part they have laws in place that you have to fight for it not that they are sedekah since USA was formed.

        Like or Dislike: Thumb up 4 Thumb down 0
  • Laugh on Jun 19, 2024 at 8:52 am

    Reality…

    Like or Dislike: Thumb up 1 Thumb down 0
  • sabahan on Jun 19, 2024 at 9:56 am

    remove AP, remove all subsidy

    Like or Dislike: Thumb up 17 Thumb down 0
  • Matti on Jun 19, 2024 at 12:26 pm

    “In a statement, MITI said the move is in line with its efforts to increase *inclusiveness* and…”

    “any *bumiputera* company can apply…”

    Topkek.

    Like or Dislike: Thumb up 6 Thumb down 1
  • Tongkatman on Jun 19, 2024 at 12:39 pm

    I as a non can open a company and put all the directors as type M and all the employee as type M and can import export cars?

    Like or Dislike: Thumb up 2 Thumb down 2
  • Sohai on Jun 19, 2024 at 1:45 pm

    buying and selling cars with aftersales are not something that anyone without experience can get into, let alone the demand of managing cash flow and finances.

    But hopefully, this would drive down the price of AP and resulted in cheaper reconds.

    Like or Dislike: Thumb up 4 Thumb down 1
  • EV Car Mafia on Jun 19, 2024 at 2:31 pm

    Hopefully the market doesnt get flooded with “reject” and damaged cars! the insurance and finance options are heavy for these recon cars. worth the risk?

    Like or Dislike: Thumb up 3 Thumb down 0
  • hazri on Jun 19, 2024 at 3:36 pm

    i really skeptical about this. own by bumiputra, but in the end run by non bumiputra. it happened.

    Like or Dislike: Thumb up 4 Thumb down 4
    • Yea , just open to any Malaysian company la.

      Like or Dislike: Thumb up 3 Thumb down 0
    • firdaus on Jun 20, 2024 at 5:26 pm

      Are you sure? Do you think the government stupid? Talk facts bro, don’t spread auta. Sinful bro

      Like or Dislike: Thumb up 0 Thumb down 2
 

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