Pepper spray company takes over AAM

PETALING JAYA: A pepper-spray manufacturing private company has assumed control over the debt-ridden Automobile Association of Malaysia (AAM), following a takeover in November.
A new chief executive officer Datuk Asa Fan Wei Nen, was appointed on Oct 28 to helm the operations of AAM and its subsidiaries – AAM Automotive Centre and AAM Travel Planners Sdn Bhd.
“It is with pleasure, I would like announce that the takeover of AAM by Stoper Industries Holdings Sdn Bhd had been formalised on Nov 1 this year," Fan said in a statement.
Fan, who is also the majority shareholder of Stoper, said in the document sighted by theSun that AAM members will now have to deposit their payments to Stoper’s CIMB bank account, instead of to the account of the AAM.
This was due to the temporary halt of the credit card services, as the company is in the works of merging the accounts of Stoper and AAM.
Moreover, a new guidebook, with new provisions superseding the previous versions, was introduced last month.
Under the new regulations, the voting rights of basic membership holders have been revoked.
theSun’s attempts to get Fan’s comments was unsuccessful.
theSun reported in September that plans were afoot to put the association’s headquarters in Shah Alam for sale, to raise funds to settle its mounting debts. The committee had also received an upfront from a potential buyer, before getting members consent for the sale.
However, the plan was aborted after members opposed to it in a Special General Meeting (SGM) held on Oct 3. It was also revealed in the SGM that the association, which was once prosperous, had RM4.5 million in debts.
theSun’s reports from August to October suggest that backdated salaries has been postponed several times.
The 85-year-old motoring association, which once had 18 outlets nationwide, now have seven branches.