Berjaya Confident Of Getting License To Assemble Cars With Byd Of China

Berjaya Corporation Bhd believes it has a strong case for the Malaysian government to approve its proposed joint venture with China carmaker byd Auto Company Ltd to assemble right-hand-drive cars in Malaysia.
 
"We think we have a strong case with very compelling economic reasons (for the government) to grant us the approval," its chairman and chief executive officer Tan Sri Vincent Tan told reporters after the signing of a Memorandum of Understanding between AmBank (M) Bhd and 7-Eleven Malaysia Sdn Bhd for the 7-Eleven Franchisee Financing Package here Thursday.
 
In the event it does not get the license, "we can still do it in other Asean countries and export the cars to Malaysia," he said, adding that Malaysia needed more investments.
 
He said this when asked on whether the company would revise its car assembly plans following the government's move to freeze the issuance of new manufacturing licences for the production of petrol-powered vehicles with engine capacity below 1.8-litres, except for hybrid and electric vehicles.
 
Last month, Berjaya Corporation and byd had signed a MoU to develop byd Auto's F0 right-hand drive one-litre model for the Malaysian and Asean markets.
 
Under the recently revised National Automotive Policy, Malaysia lifted a freeze on car manufacturing licences, but only for models above 1.8 litres.