We have just met with a long established Approved Permit (AP) holder and he has confirmed to us that there are now 38 NEW AP holders in Malaysia. Yes, the new government has granted 38 NEW car importers the ‘right’ to make ‘easy’ money. From what we have found out, most of the NEW 38 AP holders have already started talking to established AP holders to ‘buy’ their AP’s as they are not in the car business and instead just want a fee of RM18,000 to RM22,000 for 1 (each) AP.
The twist in this whole scenario is that the established long time AP holders have had their regular yearly AP quotas reduced to accommodate the new AP holders which means the total number of AP’s circulating remain the same and it is just that the AP wealth is now spread evenly with 38 new players who are mostly just selling their AP’s and not doing the import business.
With this new scenario, it is clear that the imported used/gray business will remain and allow many to become and maintain their high incomes while the rest of us continue to pay high prices for imported vehicles.