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On March 21, 2024, Sime Darby Berhad Malaysia announced that it has completed the acquisition of UMW Holdings Berhad (UMW), achieving 100% stake in UMW.
According to Sime Darby, leveraging its collective strengths, especially within the automotive and industrial sectors, this milestone will enable the group to reinforce its competitive edge and expand its domestic footprint to further drive long-term growth.
Reported on January 19, 2024, the Malaysian Minister of International Trade and Industry (MITI) has recently mentioned that mass production of Perodua’s EV is scheduled to begin by the end of 2025, the period when CBU EV’s import duty/excise duty exemption will also come to an end, and the sub-MYR 100,00 EV restriction will be lifted.
In Budget 2023, it was announced that import duty and excise duty exemption for CBU EVs had been extended to December 31, 2025.
Moreover, under the MITI guidelines, imported EVs priced under MYR 100,000 are not allowed to be sold in Malaysia until the end of the exemption period. This restriction is expected to give local carmakers time to prepare for EVs.
MITI expected to see that the local companies have already transitioned by 2025, as the EV technologies of foreign companies have already shown that they are ready.
Spearheading the production of affordable EVs in Malaysia under the New Industrial Master Plan 2030 (NIMP 2030), Perodua has developed an electric-powered prototype in cooperation with an international automotive firm, which is most likely be Daihatsu, Perodua’s technical partner and shareholder.
Reported on December 26, 2023, regarding the safety testing irregularities issue of Daihatsu Motor Co., Ltd., Perodua Malaysia has reportedly resumed its production in Malaysia, after getting regulatory clearance, according to multiple sources.
According to the statement officially released by Perodua on December 20, the company was conducting a detailed assessment and was discussing with authorities to resolve the matter. However, Perodua dealers revealed that they have already started receiving shipments again.
(From an article of Paul Tan on December 26, 2023 and multiples sources)