2009 Annual Report - ChartNexus
2009 Annual Report - ChartNexus
2009 Annual Report - ChartNexus
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Chairman’s Statement<br />
44<br />
Moving forward, MAA has forecasted a decrease in TIV to 480,000 for <strong>2009</strong> or a 12.4%<br />
decline, with passenger car TIV also estimated to shrink to 436,800 or a drop of 12.2% over<br />
2008. Although cautious, the forecast is well founded on the current global financial and<br />
economic climate, reiterated by the contraction of GDP growth. Other factors that might<br />
negatively impact car sales are the drastically fluctuating oil and commodity prices as well<br />
as unfavourable FOREX rates.<br />
Be that as it may, we are grateful for the Government’s recent announcement in March <strong>2009</strong><br />
recognising the automotive sector as being among the major industries with potential for<br />
further development, in light of its contribution to the growth of the nation. As part of the<br />
Second Stimulus Package, the Government was cognisant of the less than encouraging sales<br />
performance in the automotive industry, particularly in the second half of the year under<br />
review, with many companies in the automotive eco-system facing difficulties. In view of<br />
this, the Government generously allocated an additional RM200 million to the Automotive<br />
Development Fund to continue supporting the development of the automotive industry,<br />
in particular the vendor community, as well as to establish the Automotive Institute of<br />
Malaysia.<br />
PROTON at Hari Peneroka, Felda Maokil.<br />
To further underline its commitment to the sustainability of the industry, the Government,<br />
in a joint effort with the private sector, agreed to assist with the auto-scrapping scheme<br />
for PROTON and PERODUA. Under the scheme, a discount of RM5,000 will be given to<br />
car owners who trade in their cars of any make which are at least 10 years old for the<br />
purchase of new cars. The Government will finance part of the discount borne by PROTON<br />
or PERODUA. This scheme is intended to stimulate car sales as well as increase the safety and<br />
roadworthiness of the vehicles currently on the road, whilst reducing carbon emissions.<br />
Additionally, PROTON remained true to its philosophy of producing the right car at the right<br />
time, price and market, in our aspiration to become a regionally competitive automotive