Miti reviewing profiles of 36 firms given nod for APs

Deputy Minister Ong Kian Ming.

KUALA LUMPUR: The international trade and industry ministry (Miti) will begin reviewing the profiles of the 36 companies that have received approvals for approved permits (AP).

This is to ensure they continue to comply with the conditions set.

Deputy Minister Ong Kian Ming said the ministry had received complaints that some of the AP holders had not complied with the conditions for being open AP companies.

“Miti has received complaints and reports that some of these new companies had not complied with the conditions, such as not having the financial capability and experience in the sale and distribution of motor vehicles.

“Additionally, there were also complaints that these companies have plans to sell the APs they received to third parties,” he said in a statement today.

The companies must submit documents, information, relevant licences and financial statements for 2015-2018 to Miti within seven working days, starting from the date of the letter from Miti.

“Their failure to cooperate and submit the documents within the specified period will affect their AP applications in the future.

“An audit of the existing companies will be conducted in stages to ensure that the conditions of an open AP company are met,” added Ong.