With just 2 months left to 2019, MINI Malaysia is giving customers a chance to benefit from the brand’s 60th anniversary year celebrations. Commenting on the latest promotions, Harald Hoelzl, MD of BMW Group Malaysia said: “2019 marks yet another milestone for us at MINI as we celebrate our 60th year anniversary, and we want to extend that celebration to MINIacs across Malaysia who have helped grow our brand to where we are today. Taking the premium ownership experience to yet another level, we are introducing a limited-time offering for new owners of vehicles from the MINI portfolio.”
The MINI range for the Malaysian market
With The Great British Deal offered at all MINI dealerships, customers who purchase a new MINI can enjoy significantly lower monthly instalments, starting from RM2,388 with MINI Balloon Financing, at a lowered interest rate starting from 0.77% for MINI vehicles purchased from now to December 31, 2019. New owners will also enjoy insurance rebate of RM2,000 off MINI vehicles with the MINI Financing plan.
All newly-registered MINI vehicles come with a 4-Year Unlimited Mileage Warranty with Free Scheduled Service; 24-Hour Roadside Assistance and MINI Black Card membership.
And every customer who purchases any MINI model during the campaign period, an automatic contest entry will be entered for one lucky owner to win an all-expense-paid trip to Great Britain for two.
The people at PLUS Malaysia Berhad, the North-South Expressway (and other highways), must feel very ‘wanted’ these days as their company is the subject of a potential takeover. Various parties have made proposals to the government but the latest from Khazanah Berhad, the majority shareholder of PLUS, is that they are not planning to sell it. “We are not in the mood of selling the asset and we actually haven’t got any kind of bidding process going on,” its MD, Datuk Shahril Ridza Ridzuan, revealed.
Nevertheless, to support a proposal from one group led by Tan Sri Halim Saad (who was actually involved in the original company that built the North-South Highway), some information on the debt and operational efficiency of PLUS has been made public. However, it seems that this information is not only inaccurate but also misleading, according to PLUS, which has issued a detailed clarification.
There are three points which PLUS considers inaccurate and misleading:
“Since the takeover, the debts have risen almost 10 times the tender price of RM3.4 billion in 1988. Only RM700 million [of debt] has been paid. Where did the money (cash from annual revenue) go?”
“When he (Tan Sri Halim Saad) left the highway operation 9 years ago, PLUS’ borrowings stood at RM6 billion, 5 times less than its current debt.
“Private companies can run PLUS more efficiently”
Here’s what Datuk Azman Ismail, Managing Director of PLUS, has to say in response:
“When Syarikat Danasaham Sdn Bhd (subsequently transferred all assets to Khazanah Nasional Berhad) took over UEM Group Berhad (UEMG) from Renong Berhad and privatized UEMG in 2001, PLUS was a wholly-owned subsidiary of UEMG and was already a debt-ridden company with a total borrowing of RM16.5 billion on its balance sheet as at 31 December 2001. This amount is almost 3 times higher than the figure quoted in Tan Sri Halim Saad’s statement.
Subsequently, UEMG under the new shareholder, Danasaham, successfully listed PLUS shares on Kuala Lumpur Stock Exchange (now Bursa Malaysia) through an IPO exercise in 2002 at the value of RM12.75 billion, then only pared down PLUS’ debt substantially to RM7.2 billion.
PLUS was listed on Bursa Malaysia for 9 years and during this period, PLUS grew its business through various acquisitions of brown field (existing) highways together with their borrowings, which included ELITE and LINKEDUA.
The expressways currently owned, managed and maintained by PLUS. The 748-km long North-South Expressway from Bukit Kayu Hitam in Kedah to Johor Bahru was constructed in phases over a period of 7 years and opened in September 1994.
PLUS was subsequently taken private in November 2011 under the joint offer from UEMG and Employee Provident Fund Board (EPF), based on the approved valuation of RM23 billion, to address the conflicting pressures between the foreign/institutional investors and various stakeholders arising from toll rate increase issue. In order to fund this privatization cost of RM23 billion as well as the refinancing of PLUS borrowings totaling RM11.5 billion, PLUS had to gear up by issuing an enlarged Islamic Sukuk of RM30.6 billion in January 2012.
The Board of PLUS realized the growing competition that PLUS is facing against the other emerging highways, the public transport system and disruptions in digital technology. Hence, the Board took the decision to recruit the best talents and adopted a new business plan which includes optimizing non toll revenue and operation cost efficiency within the organization. The company continues to drive investment in the latest technologies towards the development of smart highways for the benefit of all customers.
PLUS is considered not only the largest and most experienced toll concessionaire in Southeast Asia but also among the top 10 toll highway companies in the world, and always benchmarks itself against the yardstick of operational and cost excellence. According to a recent benchmarking report, PLUS excelled in Operations as well Mechanical & Electrical maintenance and performed better than its domestic peers.
High traffic volumes on all the highways are common during festive seasons. As part of congestion management of the highway, PLUS works closely with the government authorities in line with their framework and regulations to facilitate RFID tag detection along the highway which is a pre-requisite prior to introduction of multi-lane free flow traffic system with no toll plazas in the future.
The dynamic tolling system which is being developed by PLUS will reduce bottlenecks during peak hours. Through this latest technology, real-time information on road and weather conditions ahead will be made available to all highway users. The overall safety of highway users and PLUS personnel is also further enhanced with the deployment of mechanized roadwork vehicles.PLUS manages over 1,100 kms of highways, along with 8,303 slopes, 2 tunnels (ie the Meru and Menora Tunnels), 741 bridges (including major bridges like the 1st Penang Bridge, JB Causeway, Linkedua) and 6,187 drainage/culverts. All these need constant maintenance and PLUS undertakes more than 10,000 inspections annually. Furthermore, these assets are all built over a wide variety of conditions from peat/swampy land to undulating terrain.
One of the R&R areas along the N-S Expressway with an overhead bridge that also houses restaurants and other facilities.
Apart from that, we continue to rejuvenate and enhance our 29 Rest and Services Areas as well as 50 lay-bys, 4 overhead bridge restaurants, 114 interchanges, 104 toll plazas and 1,212 toll lanes, of which the cost of maintenance works and upgrading projects are fully borne by PLUS.
PLUS R&R areas in selected locations are being refurbished into contemporary and family-friendly places to meet the demands of today’s highway travellers. Our business partners (ie the stall operators) benefit directly from all these improvements as it enlarges their customer footprint.
PLUS is also responsible for management and maintenance of the 13.8-km Penang Bridge which was opened in 1985.
Our aim is to provide a safe and enjoyable experience in keeping with an increasingly affluent Malaysian society and putting PLUS in the forefront of Malaysia’s modern infrastructure serving new townships and industrial areas along the highway corridors. We are committed to fulfil our social obligations under the Shared Prosperity Vision as we strongly believe that being a good responsible corporate citizen is good for business.
It is also worth noting that PLUS has not increased its toll rates for 14 years since 2005 and the current toll rate per kilometre of the N-S Expressway and ELITE are one of the lowest in the country.
The profits received by PLUS are distributed to its shareholders – EPF and Khazanah Nasional Berhad (via its wholly-owned subsidiary, UEM Group) – to benefit some 14 million EPF contributors, ie the Rakyat and the Government.
The new management is powering change by using technology and digitization to disrupt the barriers that once stood in the way of doing things better in PLUS. These initiatives will enhance the safety of motorists and employee productivity, which invariably will reduce cost.
We remain committed in our relentless efforts to provide our customers a safe, comfortable and enjoyable highway experience.”
Toyota Gazoo Racing (GR) has announced their plans to start sales on the pumped-up Toyota GR Supra GT4, a race machine for interested customer teams beginning March 2020 in Europe. This 430hp A90 Supra is will also go up for sale in Japan and other Asian countries next October for the ultimate racing nirvana. (more…)
Since its original founding in 1913, Aston Martin has produced only 4-wheeled machines So it’s Big News that the iconic Aston Martin wings appearing on a motorcycle for the first time ever. The motorcycle will be the product of a collaboration between Aston Martin Lagonda and Brough Superior which will be unveiled at the EICMA motorcycle show in Milan, Italy next week.
Brough Superior, like Aston Martin, is a luxury brand with great heritage. It was even regarded as the ‘Rolls-Royce of motorcycles’ by a British motorcycle publication. Brough Superior, founded in 1919, offered the fastest, best-looking, most expensive motorcycles that drew thrill-seeking record-breakers and gentleman riders of the Roaring Twenties. Its most famous fan was T.E Lawrence of ‘Lawrence of Arabia’ who owned seven motorcycles of the brand.
George Brough (right) founded his company in 1919 and produced what were regarded as the finest motorcycles of the 1920s.T.E Lawrence of ‘Lawrence of Arabia’ owned seven motorcycles of the brand.
The brand was relaunched in 2013 by Thierry Henriette, a highly-respected motorcycle designer who has worked for major manufacturers throughout the world. He started by relaunching the most famous of George Brough’s motorcycles, the one favoured by Lawrence of Arabia, the SS100. The new era Brough Superior bikes have kept the DNA of the classics such as the art deco design and improved it beyond the modern standards with exclusive technologies and the finest materials.
Today’s Brough Superior motorcycles draw on the design DNA of the originals with modern technology.
Today Brough Superior produces a range of three luxury modern classic motorcycles, recognised for their superior quality, high performance and precise handling that provide a joy riding experience. These distinctive motorcycles are handcrafted in limited numbers in a fully integrated process including the specific engine built in France and shipped worldwide.
Both companies take pride in craftsmanship and use the finest materials to breathe life into their designs. As independent companies, they also revel in their ability to offer bespoke design and engineering solutions so a collaboration between the two brands is virtually guaranteed to produce something very special.
The limited edition Aston Martin – Brough Superior motorcycle will be unveiled at EICMA, a motorcycle trade show in Italy with a 100-year history.
The first new motorcycle, to be produced as a limited edition, is the combined vision of Aston Martin Executive Vice-President and Chief Creative Officer Marek Reichman and Henriette, both motorcycle enthusiasts.
“This is a fascinating and very popular project for myself and my team. The opportunity to collaborate with Brough Superior has given us the chance to bring our own unique views on how beauty and engineering can combine to create a highly emotive piece of vehicle design. We’re excited about the end result and can’t wait to see the reaction the motorcycle receives when it is revealed,” Reichman said.
McLaren Toronto just delivered a very special one-off McLaren 600LT Coupé “Comet Fade” with loads of premium goodies, courtesy of the McLaren Special Operations (MSO). Specially made for a long-time customer of the dealer, this particular McLaren 600LT’s design is mainly inspired by the brightness and speed of an icy comet. (more…)
Malaysians who don’t follow auto industry developments are probably not aware that Vietnam has a home-grown automobile brand known as VinFast. The company made its international debut at the Paris Motor Show in 2018 with the aim of developing and selling globally competitive cars with a Vietnamese identity. It is part of Vietnam’s largest business conglomerate, Vingroup, which has businesses in the technology, service and industry sectors.
Vinfast has already begun producing the Lux SA2.0 SUV and the Lux A2.0 Sedan, as well as the Fadil, a compact city car. Since March this year, over 155 units of the Lux models have been sent to 14 countries in Europe, Asia and Africa as well as Australia for real-world testing. Magna Steyr’s Graz testing centre in Austria and Bosch’s Austria plant are also carrying out testing for Vinfast.
Maximum rating for Lux models
With safety being a top priority, Vinfast is also submitting its cars for New Car Assessment Program (NCAP) testing which includes crash testing. In the ASEAN region, ASEAN NCAP is an internationally recognised NCAP organisation and following its full range of tests and analysis, it gave the maximum 5-star rating to the two Lux models while the Fadil city car received a 4-star rating.
In the crash tests, conducted last month, the Lux SA2 scored 46.45 out of 50 points for Adult Occupant Protection and 22.73 out of 25 points for Child Occupant Protection. The Lux A2.0 scored 46.89 out of 50 for Adult Occupant Protection, and 21.81 out of 25 points for Child Occupant Protection.
“VinFast is committed to bringing world-class automotive products to local and international consumers,” said Tran Le Phuong, Deputy General-Director of Vinfast. “The ASEAN NCAP results validate VinFast’s commitment to always putting quality first as we continue to create automotive products that are innovative, affordable and safe.”
Vinfast Lux SA2Vinfast Lux A2.0Vinfast Fadil
Meeting demand from growing middle class
Vinfast aims to address the growing demand for high-quality and affordable cars among Vietnam’s growing middle class. Vietnam’s Industrial Policy and Strategy Institute (IPSI) projects that domestic car sales will grow 22% annually from 2019 to 2025—a significant development for a market that has a current 4-5% car ownership rate. The company is projecting production of 500,000 units per year by 2025.
To gain additional exposure, Vinfast will be the title sponsor of the first-ever Formula 1 event in Vietnam next year. The F1 race will be held in Hanoi’s My Dinh sports complex. The 5.565-km track has been designed by Hermann Tilke, who has also designed many other F1 tracks including the Sepang International Circuit.
