**MALAYSIA TODAY SPECIAL REPORT ON THE AP ISSUE**

There is an ongoing brouhaha about Approved Permits (APs) being awarded to certain favoured and crony companies. Actually, the issue is more than just the APs. A bigger issue is the undisclosed profits these companies could be making through these APs.

Does such a thing exist? You figure it out for yourselves from these official records filed with the Registrar of Companies of just ten of the companies.

**1) Hyumal Motor Sdn Bhd**

Enjoying APs since: 1997

Quota a year: 8,573

Total quota to 2004: 68,584

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM2,057,520,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM6,858,400,000

Directors/Shareholders: Datuk Tengku Adnan bin Tengku Mansur (20%), Tan Sri Dato Seri Vincent Tan Chee Yioun (10%), Dato Abdul Malek Ahmad (10%), Arsam bin Damis (10%), Azman bin Ahmad (5%), Wan Adli bin Wan Ibrahim (deceased - 5%)

*Company owned by Berjaya Group Berhad (20%) and Tadamansori Holdings Sdn Bhd (20%)*

Paid up capital: RM6,000,000.00

Last statutory accounts filed: 2002

Total assets: RM54,714,283.00

Total liabilities: RM13,582,880.00

Turnover: RM214,357,239.00

Profit before tax: RM28,440,701.00

Profit after tax: RM18,642,250.00

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**2) Naza Kia Sdn Bhd**

Enjoying APs since: 1997

Quota a year: 8,432

Total quota to 2004: 67,456

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM2,023,680,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM6,745,600,000

Directors/Shareholders: Tan Sri Dato Seri Nasimuddin Kamal (80%) and Dato Hj Sheikh Shalahuddin Ayubi Kamal (20%)

Paid up capital: RM2.00

Last statutory accounts filed: 2003

Total assets: RM195,514.00

Total liabilities: RM147,736.00

Turnover: RM12,500.00

Profit before tax: RM56,184.00

Profit after tax: RM55,447.00

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**3) Cartrade Sdn Bhd**

Enjoying APs since: 1997

Quota a year: 1,237

Total quota to 2004: 9,896

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM296,880,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM989,600,000

Directors/Shareholders: Mohamed Ilyas bin Pakeer Mohamed (75%) and Zahrah bte Ahmad (25%)

Paid up capital: RM2,000,000.00

Last statutory accounts filed: 1999

Total assets: RM66,111,133.00

Total liabilities: RM21,861,323.00

Turnover: RM50,594,253 (1997 was RM205,867,002)

Profit before tax: RM1,468,088.00

Profit after tax: RM1,468,088.00

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**4) Directional (M) Sdn Bhd**

Enjoying APs since: 1997

Quota a year: 811

Total quota to 2004: 6,488

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM194,640,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM648,800,000

Directors: Dato Ismayddin bin Abdul Manan, Mohamed Husain bin KC Ahammu, Zamaliah bte Juah and Datuk Chong Wei Yoon

*Company 100% owned by USF-Hicom (Malaysia) Sdn Bhd*

Paid up capital: RM45,472,698.00

Last statutory accounts filed: 2004

Total assets: RM78,559,962.00

Total liabilities: RM127,402,919.00

Turnover: RM63,101,790.00

Profit before tax: RM4,253,641.00

Profit after tax: RM4,253,641.00

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**5) NZ Wheel (M) Sdn Bhd**

Enjoying APs since: 1997

Quota a year: 419

Total quota to 2004: 3,352

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM100,560,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM335,200,000

Directors/Shareholders: Tan Sri Dato Seri Nasimuddin Kamal (12%), Dato Hj Sheikh Shalahuddin Ayubi Kamal (4%) and Puan Sri Datin Seri Zaleha bte Ismail (4%)

*Company 80% owned by Naza Motor Trading Sdn Bhd*

Paid up capital: RM1,000,000.00

Last statutory accounts filed: 2002

Total assets: RM242,159,309.00

Total liabilities: RM202,619,735.00

Turnover: RM230,876,062.00

Profit before tax: RM6,692,925.00

Profit after tax: RM4,702,925.00

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**6) Competitive Supreme Sdn Bhd**

Enjoying APs since: 2002

Quota a year: 1,807

Total quota to 2004: 5,421

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM162,630,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM 542,100,000

Directors/Shareholders: Muhammad Fadhil bin Ahmad (50%) and Zahari bin Jaffar (50%)

Paid up capital: RM1,000,000.00

Last statutory accounts filed: 2002

Total assets: RM1,085,686.00

Total liabilities: RM319,540.00

Turnover: RM3,776,463.00

Profit before tax: RM233,854.00

Profit after tax: RM233,854.00

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**7) Nasim Sdn Bhd**

Enjoying APs since: 2002

Quota a year: 293

Total quota to 2004: 879

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM26,370,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM87,900,000

Directors/Shareholders: Tan Sri Dato Seri Nasimuddin Kamal (50%) and Dato Hj Sheikh Shalahuddin Ayubi Kamal (50%)

*Ministry records shows SM Amin instead of Dato Hj Sheikh Shalahuddin Ayubi Kamal*

Paid up capital: RM2.00

Last statutory accounts filed: 2000

Total assets: RM8,204.00

Total liabilities: RM8,202.00

Turnover: 0

Profit before tax: 0

Profit after tax: 0

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**8) Weststar Motorsport Sdn Bhd**

Enjoying APs since: 2002

Quota a year: 7,603

Total quota to 2004: 22,809

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM684,270,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM2,280,900,000

Directors: Datuk Abdul Rashid bin Abdul Rahim, Dato Haniff bin Abd Aziz, Dato Syed Azman bin Syed Ibrahim and Che Aziyah bte Hassan

*Company 100% owned by Weststar Holdings Sdn Bhd*

*Ministry records DO NOT show Datuk Abdul Rashid bin Abdul Rahim and Che Aziyah bte Hassan but instead shows Dato Azzuddin Ahmad*

Paid up capital: RM2,000,000.00

Last statutory accounts filed: 2003

Total assets: RM24,335,475.00

Total liabilities: RM4,908,259.00

Turnover: RM340,898,912.00

Profit before tax: RM18,637,870.00

Profit after tax: RM13,617,267.00

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**9) Atlantic Star Auto Sdn Bhd**

Enjoying APs since: 2003

Quota a year: 582

Total quota to 2004: 1,164

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM34,920,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM116,400,000

Directors/Shareholders: Dato Haniff bin Abd Aziz (50%) and Dato Syed Azman bin Syed Ibrahim (50%)

Paid up capital: RM1,000,000.00

Last statutory accounts filed: 2004

Total assets: RM6,452,532.00

Total liabilities: RM5,320,973.00

Turnover: 0

Profit before tax: 0

Profit after tax: 0

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

**10) Auto Pacific Star Sdn Bhd**

Enjoying APs since: 2003

Quota a year: 5,087

Total quota to 2004: 10,174

**If sell the APs**

At average RM30,000 per AP

Total accumulated from APs: RM 305,220,000

**If used APs to actually import cars**

At conservative estimate of RM100,000 per AP

Total accumulated to 2004: RM1,017,400,000

Directors: Dato Haniff bin Abd Aziz and Dato Syed Azman bin Syed Ibrahim

*Company owned by Asas Komited Sdn Bhd (23.3%) and Magna Prominent Sdn Bhd (76.7%)*

Paid up capital: RM1,000,000.00

Last statutory accounts filed: 2003

Total assets: RM74,645,643.00

Total liabilities: RM71,252,836.00

Turnover: RM93,534,342.00

Profit before tax: RM3,372,782.00

Profit after tax: RM2,392,807.00

*Estimated hidden (undeclared) profits to 2004: (For Malaysia Today’s readers to figure out)*

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