Motor and credit firms form pact

Companies ink MoU to boost vehicle ownership in Asean

SERI KEMBANGAN: The motor and credit companies’ national associations in Malaysia, Singapore and Thailand aim to form an alliance to move both used and new motor vehicle ownership in the Asean region.

The effort was formally created last night with the joint signing of a memorandum of understanding (MoU) between the Singapore Vehicles Traders Association (SVTA), the Association of Used Car Thailand ( Act) and the Federation of Motor and Credit Companies Association of Malaysia (FMCCAM).

The signing was witnessed by Transport Minister Datuk Seri Liow Tiong Lai.

The MoU wanted to create a larger data pool for automotive policy-making, as well as promoting an efficient regional platform to enhance motor vehicle sales in the region.

FMCCAM president Datuk Tony Khor Chong Boon, in his opening speech, cited the example of the eAuto customer relationship programme, which reduced trading time between owners and dealers and helped manage stock better.

“We can run faster, have wider reach and we can win more. The customers (will) have more choices (and) they also (will) win more,” said Khor, adding the eAuto system would be key in the strategic alliance.

Similarly, both presidents from the Singapore and Thailand associations also highlighted efforts to improve the automotive industry in their respective countries.

The Malaysian dealers also got an early bit of good news, as Liow said that he agreed in principle to give the industry six months’ validity for their Puspakom B5 (Transfer of Ownership) and B7 (HirePurchase) inspections, and promised that the Road Transport Department would look in detail into the matter.

Liow praised the effort by the national associations in setting up the alliance, and also emphasised the need for road safety measures such as the automated awareness safety system.

He also advised drivers of foreign vehicles entering Malaysia to register with the authorities, so that assistance could be given should the vehicles encounter trouble.

The evening’s proceedings also saw Liow presenting certificates of appointment to FMCCAM’s new 2017-2020 committee, as well as the launch of the association’s new website.

We can run faster, have wider reach and we can win more. The customers (will) have more choices (and) they also (will) win more.

Datuk Tony Khor Chong Boon