Automotive

Published on February 15th, 2018 | by Daniel Sherman Fernandez

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Now Pekema wants the government to use RM1.2 Billion to assist them

Better just give them each an untapped oil field and an un-mined gold mine (which they will for sure sub-contract to a proper business person with no handouts) and let them continue to be super rich while real Malaysian business people use their internal funds or funds from banks (with market interest rates) to finance and operate their business like how it should be done.

Can you believe this, the Malaysian Association of Malay Vehicle Importers and Traders (Pekema) has asked the government to allow approved permit (AP) fees accumulated in the Bumiputera Automotive Fund to be used as ‘soft loans’ for Proton dealers to upgrade their outlets.

Pekema President, Datuk Zainuddin Abd Rahman, said since 2010, the fund, which collected RM10,000 for each AP, has reached RM3 billion.

Before even taking in all this, the Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed should instruct his department staff to audit each member of Pekema’s wealth and ask his own staff who are wage earners if Pekema members should be accorded the loan or not. Then look into using the RM1.2 Billion to fund non-crony Bumiputra’s to open up NEW Proton or even other vehicle brand 3S and 4S car dealerships and have a level playing field.

“According to the terms of the fund, 20% would be used to assist the Malaysia Automotive Institute to build capacity, 40% would be for Pekema members to expand their businesses and the remaining 40% to assist Bumiputeras involved in the motor vehicle industry.

“Therefore, Pekema proposes that 40% of the RM3 billion, that is RM1.2 billion, to be disbursed to Proton dealers as soft loans at interest rates of not more than 4%.”

Geely and Proton are expected to launch the highly anticiapted SUV, the Boyue, at the end of this year and only Proton 3S centres will be allowed to sell the new vehicle. This is why these super millionaire AP Kings/Pekema members are insisting that their 1S Proton shoplots be financially assisted for an upgrade to take in the possible profitable sales from the new Geely Proton SUV.


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