Media statement by Dr. Ong Kian Ming, Deputy Minister of International Trade and Industry (MITI) on the 29th of March 2019
After the statements MITI issued on the 13th and 14th of March 2019, MITI received several complaints and reports regarding new companies that did not comply with such conditions as they did not have the financial capabilities and no experience in sales and distribution of vehicles. In addition, there have also been complaints that these companies have plans to sell their allocated APs to third parties. As a follow up to these complaints, MITI will carry out checks on the latest information from these companies including:
1) “Memorandum and Articles of Association”;
2) Companies Commission of Malaysia (SSM) information which includes ‘Key Financial Information’;
3) Financial statements from 2015 until 2018
4) Declaration and payment of tax slip to Internal Revenue Board for years 2016 until 2018
5) Statements of Employees Provident Fund (EPF) January to March 2019; and
6) Local Authorities’ License for years 2017 until 2019.
All documents mentioned aboved must be submitted within seven (7) working days from the date of the day MITI’s letter is issued. The failure of the company to cooperate and submit the documents within the prescribed period may affect any AP applications by these companies in the future.
The list of 36 new Open AP companies appointed wih effect from 1st January 2019 is attached as a reference.
Investigations will also be conducted through staged audits of existing companies to ensure compliance with the conditions of an Open AP company under the new policy.
As stated by MITI Minister, YB Datuk Darell Leiking, firm action will be taken against any Open AP firm that fails to comply with the requirements as Open AP firms including those who are found selling APs to third parties.
MITI is committed to ensuring that only truly eligible companies will be able to maintain their status as an Open AP company and to continue their business within the industry.
Appendix 1: List of 36 New Open AP Companies (Effective 1 January 2019)
LIST OF 36 NEW OPEN AP COMPANIES UNDER THE NEW OPEN AP POLICY
(EFFECTIVE 1 JANUARY 2019)
For further enquiries you
En. Masyhur Abdullah
Ministry of International Trade and Industry (MITI)
Level 29, Menara MITI
No. 7, Jalan Sultan Haji Ahmad Shah
50480 Kuala Lumpur
Telephone Number: (603) 6200 0024
Facsimile Number: (603) 6206 3710
E-mail address : [email protected]
MITI is the key driver in making Malaysia the preferred destination for quality investments and enhancing the nation’s rising status as a globally competitive trading nation. Its objectives and roles are oriented towards ensuring Malaysia’s rapid economic development and help achieve the country’s stated goal of becoming a developed nation by 2020.
Ministry of International Trade & Industry
Strategic Communications Unit
Tel +603 6200 0083
Fax +603 6206 4293
E-mail [email protected]