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Grab Defends Earnings Structure Amid Rider Boycott Calls

Grab, the e-hailing and food delivery giant, has defended its revised delivery fee and bonus structure, which has faced criticism from some riders prompting calls for a boycott. The revamped earnings framework, implemented recently, includes reduced base fares but offers increased incentives for peak-hour deliveries, distant pick-ups, and extended wait times. Grab asserts that this new structure will ensure fair compensation for riders handling bookings that demand more time and effort.

According to Grab, the changes are based on feedback from delivery partners regarding longer wait times at merchant outlets and pick-ups situated farther away. The company aims to address concerns and enhance the compensation structure to better reflect the efforts of its most active delivery partners.

Despite Grab’s explanation, some riders have expressed dissatisfaction with the reduced base fares, leading to calls for a boycott. Posters advocating a rider boycott on a specific date have circulated on social media. While some riders acknowledge the nature of gig work, emphasising its temporary nature, others argue for the importance of fighting for fair compensation, particularly given the rising cost of living and vehicle maintenance expenses.

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Malaysian Car Sales Projected to Dip to 625,000 in 2024

In a recent report, RHB Research forecasts a decline in the total industry volume (TIV) for car sales in Malaysia, estimating a decrease to 625,000 units in 2024 after achieving a historic high of 799,000 in 2023. The research firm remains circumspect about the industry’s outlook, citing a lack of compelling factors to propel sales and earnings to new peaks.

As reported by NST, the year 2023 witnessed a robust performance, with the total production volume reaching 774,000 units. This surge was attributed to pent-up demand and the introduction of new car models. Notably, the second half of the year experienced an 18% uptick in TIV compared to the first half.

RHB Research attributes the exceptional sales performance in 2023 to pent-up demand and underscores the absence of similar catalysts in 2024. The research maintains a neutral stance on the auto and auto parts industry, with Bermaz Auto (BAUTO) identified as a top pick due to its 10% yield and resilient car sales.

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Alstom Takes Over KLIA’s Aerotrain Project, Cost Rises to RM456.1 Million

Malaysia Airports Holdings Bhd (MAHB) has announced that Alstom, a French rolling stock manufacturer, will be the new original equipment manufacturer (OEM) for the replacement of the Aerotrain system at Kuala Lumpur International Airport (KLIA). According to The Star, despite the increased cost of RM456.1 million, the project is set to be operational by the original schedule, before the end of March 2025. Pestech Technology Sdn Bhd, a subsidiary of Pestech International Bhd, has been reappointed as the contractor, with IJM Corp Bhd joining as the joint-venture (JV) partner.

Key Points:

Cost Increase: The new contract with Alstom will incur a cost increase capped at 15%, bringing the project cost to RM456.1 million, excluding operation and maintenance. Factors contributing to the cost hike include interest holding costs, foreign-exchange considerations, remobilisation expenses, and project coordination fees to Alstom.
Project Schedule: Alstom will serve as the project coordination lead and is tasked with coordinating the recommencement of the project, delivering three new trains and two lines by the first quarter of 2025. The project will replace the Aerotrain system that shuttles between KLIA’s terminals.
Partnership: Alstom has selected IJM Construction Sdn Bhd and Pestech Technology Sdn Bhd as partners for civil engineering and train power supply components. Alstom’s role in spearheading project management and coordination is expected to provide assurance, given the company’s successful track record in similar ventures globally.
Controversial History: The Aerotrain replacement project faced controversy when MAHB terminated Pestech Technology’s contract in August 2023, citing non-performance and breach of obligations. The termination led to the search for a new OEM and contractor, resulting in Alstom taking over the project.

MAHB’s acting group CEO, Mohamed Rastam Shahrom, stated that the increase in cost was an “acceptable variance” to ensure the project gets back on track. Alstom’s Singapore and Malaysia cluster managing director, Yann Maixandeau, expressed the company’s commitment to overcoming challenges and delivering the project on time. The Aerotrain project aims to enhance the travel experience at KLIA by replacing the existing system with more advanced technology.

Limited-Edition Subaru WRX S4 STI Sport Unveiled for Japanese Market

Subaru has announced the launch of a new limited-edition model, the WRX S4 STI Sport, aimed at the Japanese market. Limited to just 500 units, the special variant introduces a selection of unique features and styling enhancements, making it an exclusive offering for enthusiasts. The sales will be conducted through a lottery system, open for entries from January 12 to 28.

Distinctive Features

The WRX S4 STI Sport boasts several notable upgrades, including the fitment of 19-inch BBS forged wheels finished in Super Black and wrapped in Michelin Pilot Sport 5 tires. The exterior showcases a revised black front grille, blacked-out badges, and a black lip spoiler on the decklid. Additional styling touches include Crystal Black Silica-painted wing mirrors and a roof antenna.

Performance Enhancements

Performance-wise, the limited-edition model benefits from a tower bar under the hood and a stiffening bar at the rear, contributing to an enhanced driving experience. Under the hood, it retains the 2.4-litre horizontally-opposed turbocharged four-cylinder engine paired with a continuously variable transmission, delivering 271hp and 375Nm of torque.

Customised Interior

The WRX S4 STI Sport features a unique interior with a genuine leather-wrapped steering wheel adorned with silver stitching, shift boots showcasing silver stitching, and specially designed Recaro seats in the front. These seats are upholstered in ultra suede material with contrasting stitching, providing both comfort and a sporty aesthetic. The suede material extends to parts of the instrument panel, armrests, and centre console.

Exclusive Availability

Priced at 6,237,000 yen (RM198k), this limited edition WRX S4 STI Sport is anticipated to generate significant interest, with Subaru employing a lottery system for sales. The exclusivity of the model, coupled with its distinctive design elements, is likely to appeal to Subaru enthusiasts and collectors alike.

Hyundai Unveils Ioniq 5 N NPX1 Concept, Previewing N Performance Parts Lineup

At the Tokyo Auto Salon, Hyundai has pulled the covers off the Ioniq 5 N NPX1, a concept designed to highlight the forthcoming ‘N Performance Parts’ lineup for the high-performance Ioniq 5 N. The NPX1 concept boasts a powerful 641hp and 770Nm of torque electric drivetrain, capable of a swift 0-100 km/h acceleration in just 3.4 seconds.

The NPX1 provides a glimpse into Hyundai’s N Performance Parts, set to be available for the entire N lineup when they hit the market later this year. The concept showcases a range of enhancements, including lightweight aerodynamic body components, such as a carbon-fibre splitter, side skirts, rear bumper diffuser, and a hatch-mounted rear spoiler. The concept also features hybrid carbon wheels, high-performance brake pads, and a lowered stance thanks to sports suspension.

Inside, the cabin receives upgrades, notably racing bucket seats upholstered in Alcantara material. Moreover, Hyundai’s Vice President of N Brand, Joon Park, hinted at software customisation, including sound and vehicle calibration through Over-the-Air (OTA) updates, offering a new dimension of Electric Vehicle (EV) customisation.

While these performance parts are demonstrated on the Ioniq 5 N NPX1, they are expected to become available for the entire N lineup later in 2024. The unveiling of the Ioniq 5 eN1 Cup Car in February 2024, set for a one-make racing series, will likely feature a more advanced version of these performance enhancements. Hyundai’s N division continues to push the boundaries, introducing electric racing with the Ioniq 5 eN1 Cup Car, a groundbreaking move in its long-standing one-make racing series.

Praga Accelerates Hypercar Production: The 700hp V6 Bohema

Praga, the renowned Czech automaker, has transitioned from concept to reality as it begins the production phase for its high-performance hypercar, the Bohema. First unveiled in 2022, this road-legal driver’s car is set to deliver an exhilarating experience with its powerful engine and lightweight construction.

The heart of the Bohema is a potent 3.8-litre V6 engine borrowed from the Nissan GT-R, featuring a dry sump system and upgraded turbochargers. This powerhouse generates an impressive 700hp and 724Nm of torque, promising an adrenaline-packed ride for enthusiasts. Power is sent to the rear wheels through a six-speed manual transmission.

Designed with a focus on lightweight performance, the Bohema’s carbon fibre construction keeps its weight below 1,000kg. This emphasis on minimising weight is aimed at making the hypercar a formidable force on the racetrack.

Praga’s rigorous testing program has taken the Bohema to renowned racetracks, including Spa-Francorchamps, the Red Bull Ring, and the Nurburgring. Professional drivers like F1 and IndyCar star Romain Grosjean and former Stig Ben Collins have provided valuable feedback during these tests.

With a price tag of €1.36 million (RM6,974,587), the Bohema caters to hypercar collectors seeking a combination of power, performance, and exclusivity. Handcrafted at Praga’s Czech Republic factory, the company plans to commence deliveries in the first half of the year. Although production will span four years, Praga intends to maintain exclusivity by limiting the number of units produced. The Bohema represents Praga’s commitment to delivering an unparalleled driving experience to a select group of passionate automotive enthusiasts.