First EEV licence gives rise to more questions than answers

KUALA LUMPUR: The new energy efficient vehicle (EEV) manufacturing licence handed out yesterday by the government, the first step in turning the country into a global green car hub, left more questions than answers.
Go Automobile Manufacturing Sdn Bhd (GAM), an unknown company with no known automotive background, was given the first EEV licence under the National Automotive Policy (NAP) 2014 yesterday.
In a press release given by Malaysia Automotive Institute (MAI) before the ceremony yesterday, it was stated that GAM is a local company established in 2012, and has been collaborating with GWM in the same year.
A quick search on Companies Commission of Malaysia (SSM) showed that the company was only registered on Feb 14, 2013, with a registered address at Pekeliling Business Centre, Kuala Lumpur.
According to its corporate information in SSM, the company is the dealer and franchisor of motor vehicles manufacturers, as well as warehousers of motor vehicles.
However, no other details on the nature of its business can be found, and GAM has no official website.
Perhaps the deal clincher was GAM's tie up with Chinese company Great wall Motor Company Ltd, even though, China's largest SUV producer, is yet to commit any investments at the moment.
Information gathered in SSM showed that GAM has authorised and issued share capital of RM10 million, divided into equal shares of RM1 each.
It has three direct shareholders, namely W & R Resources Sdn Bhd, Ahmad Azam Sulaiman and Muhadzir Mohd Isa, who holds 947, 500 shares, 50, 000 shares and 2, 500 shares, respectively.
The company has three directors, namely Ahmad Azam, Wan Ahmad Wan Omar and Farok Maasom.
However, only Ahmad Azam, who is the CEO of GAM, was present at the press conference after EEV license handing ceremony held at Ministry of International Trade and Industry (Miti) yesterday.
Despite bagging the first license, the company does not have business cards.
Ahmad Azam also refused to give the reporters his personal contact number, as well as the company's office number.
When the reporters asked for his email address, Ahmad Azam gave his personal email address.
Worth noting is that GAM's financial information is not applicable. Hence, applying for bank borrowings could be difficult since the company has no track record to point to.
SSM also showed that the Kedah-based W & R Resources is owned by Wan Ahmad and Farok, each holding 250, 000 shares.
W & R Resources, however, generated some RM2.43 million of revenue in financial year ended June 30, 2013.