Companies approved for vehicle inspections “are not RM2 companies”; have enough paid-up capital – Loke

Companies approved for vehicle inspections “are not RM2 companies”; have enough paid-up capital – Loke

The three companies which have been granted conditional approval to conduct motor vehicle inspection services – Wawasan Bintang, Pakatan Petroleum and Beriman Gold – are not “RM2 companies”, but instead have sufficient paid-up capital, transport minister Anthony Loke has said, reported Bernama.

Last week, Nurul Islam Mohammed Yusoff posted to Facebook questioning how the companies were appointed by the government, given that one of the companies, Wawasan Bintang, was found to be just eight months old, and as such had no proven track record.

“The company, which is said to be only eight months old, has a paid-up capital of RM20 million and is involved in other business activities. It is not a RM2 company; they have sufficient capital. For the record, this company is fully Bumiputera-owned, and all three of its directors are Bumiputera,” Loke said in response to Jerantut member of parliament Khairil Nizam Khirudin during the minister’s question time.

The transport ministry has already set specific criteria to ensure that new entrants invest in building expertise and capabilities in the vehicle inspection industry, Loke added.

Companies approved for vehicle inspections “are not RM2 companies”; have enough paid-up capital – Loke

“To prevent conflicts of interest, applicants are allowed to establish new companies or use entities unrelated to the automotive business when applying for a PPKM licence. This ensures a clear separation of business interests and prevents situations where a company involved in vehicle sales or services approves its vehicles,” he continued.

The three companies appointed for vehicle inspections have undergone a strict and transparent selection process, and they have fully met all criteria, including employing certified vehicle inspectors,” the transport minister emphasised.

“If I wanted to hide anything, I wouldn’t have announced the names of these companies. What matters is opening up the market to make vehicle inspections more competitive, efficient and provide consumers with more choices,” Loke said.

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Mick Chan

Open roads and closed circuits hold great allure for Mick Chan. Driving heaven to him is exercising a playful chassis on twisty paths; prizes ergonomics and involvement over gadgetry. Spent three years at a motoring newspaper and short stint with a magazine prior to joining this website.

 

Comments

  • To me it looks like puspakom used bogus entities to prevent reputable companies competing.

    Like or Dislike: Thumb up 3 Thumb down 13
    • Crony on Feb 20, 2025 at 2:18 pm

      How does these new PH cronies have reputation when they were never in this business?

      Like or Dislike: Thumb up 3 Thumb down 0
  • The fact they allow unlimited darkness on car tint proves that they are not that smart after all. A lot of time, we need to look beyond the car in front via the car windows to anticipate the next action.

    Like or Dislike: Thumb up 7 Thumb down 0
  • Ben Yap on Feb 19, 2025 at 10:10 am

    but Loke still haven’t show who are the remaining bidders and why they are rejected. still hiding something but only revealing other areas for diversion.

    Like or Dislike: Thumb up 4 Thumb down 3
  • Sohai on Feb 19, 2025 at 11:24 am

    He didn’t really answer the question.
    What were the selection criterias exactly? Paid-up capital being one (even then, what was the paid-up capital requirement).

    Other criterias such as track record in this business? management team record?

    and you allow bidders to open a new company so that it doesn’t co-minggle with their existing business like used car dealers? How would just forming a new company counter this conflict of interest, if the shareholders are largely the same?

    with no track record, how do you prove that they are up to the job? is public safety we are talking about right?

    Like or Dislike: Thumb up 4 Thumb down 1
  • pebxgt on Feb 19, 2025 at 5:55 pm

    Critics forgot about Pagoh’s bumiputera company during Jana Wibawa head by Datuk Teo Wee Cheng.

    Like or Dislike: Thumb up 0 Thumb down 1
 

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