12/02/2025

BIZ & FINANCE WEDNESDAY | FEB 12, 2025

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SCIB starts legal proceedings against Awana JV Suria Saga KUCHING: Sarawak Consolidated Industries Bhd’s (SCIB) wholly owned subsidiary SCIB Properties Sdn Bhd (SPSB) has filed a writ of summons against Awana JV Suria Saga Sdn Bhd, seeking legal redress over unauthorised loan drawdowns. SCIB, an industrialised building systems specialist, is seeking several court declarations to safeguard its financial interests and legal standing. As part of the lawsuit, SCIB is requesting a confirmation that the Settlement cum Appointment of Contractor Agreement (SA 2024) and the related contract have lapsed and are no longer enforceable. Additionally, SCIB is seeking a court order to compel Awana to discharge SCIB as the corporate guarantor for the loan facility within 30 days from the date of judgment. Furthermore, the company is also applying for an interlocutory injunction to prevent Awana from reusing the loan facility until the case is fully resolved. These legal measures are intended to protect SCIB from further financial exposure and ensure that all contractual obligations are upheld in accordance with the law. SCIB group managing director Ku Chong Hong said the company remains firm in upholding financial discipline and contractual integrity. “The unauthorised loan drawdowns are a serious matter, and we are taking the necessary legal action to protect the company’s financial interests. “We trust that the judicial process will ensure accountability, and we will pursue all legal avenues to safeguard our shareholders’ value,“ he said in a statement. The legal proceedings will not impact SCIB’s ongoing business operations. The company will continue to monitor developments closely and provide updates as necessary.

Sime Darby-BYD alliance powers Malaysia’s EV boom

Ű BY AIMIE SHAZRIE sunbiz@thesundaily.com

Malaysia’s EV revolution. Gan said it takes strong local partnerships to understand and cater to domestic consumer needs. He also noted that the Malaysian EV market is undergoing a major shift, driven by the rapid expansion of Chinese manufacturers, including BYD. “While the strong demand for Chinese EVs signals a positive shift toward green mobility, concerns are growing over the long-term impact on local manufacturers. “Some fear that Malaysia’s reliance on foreign brands could stifle opportunities for homegrown automakers, making it difficult for them to establish a foothold in the EV market,” Gan said, adding that Chinese EV marques, with their advanced technology, competitive pricing, and aggressive market penetration have propelled EV adoption. While this is positive for the green mobility initiative, some industry observers warn that this growth may come at the expense of Malaysia’s local automotive sector. This is because Chinese EV makers have shaken up the industry by offering high-tech, affordable alternatives. However, their rapid expansion raises concerns about Malaysia’s growing dependency on foreign automakers. Gan questioned whether these partnerships are enough to keep Malaysia’s auto industry relevant or if the nation is destined to become merely a consumer in a market dominated by Chinese brands. As competition in the EV sector intensifies, Malaysia stands at a crossroads. The choices made now will determine whether the country can build a strong local EV industry or if it will continue to be shaped by foreign giants.

o Partnership has made the Chinese automaker the top-selling electric car brand in the country since its debut in December 2022

KUALA LUMPUR: Sime Darby Bhd’s automotive arm Sime Darby Motors Sdn Bhd’s strong partnership with Chinese electric vehicle manufacturer BYD Co Ltd has propelled the BYD brand in Malaysia, securing an impressive 46% market share in the EV segment in 2024. Sime Motors Southeast Asia managing director Jeffrey Gan said this partnership had positioned BYD as the top-selling EV brand in Malaysia since its introduction in December 2022. He said that with popular models such as the Seal, Atto 3, Dolphin, Sealion 7, and M6, BYD successfully met the diverse needs of Malaysian consumers. Despite BYD’s dominance, Gan

underscores a harsh reality — no Malaysian brand currently holds a comparable position in the EV race. “With Chinese automakers securing an ever-growing market share, local manufacturers face an uphill battle in competing on price, technology, and brand recognition,” Gan said. He noted that Sime Motors has heavily invested in infrastructure, training, and after-sales support to strengthen BYD’s market position. While this benefits consumers, it also reinforces the perception that foreign brands are leading

said Sime Motors still sees room for collaboration. The company is open to working with local manufacturers and charge point operators (CPOs) to help develop Malaysia’s EV ecosystem. “We currently have 123 charging stations across our network and continue to explore expansion opportunities to improve accessibility and convenience for EV owners,” Gan told SunBiz. Sime Motors’ success with BYD highlights the effectiveness of its distribution strategy, yet it also

BYD managed to fulfill the wide-ranging needs of Malaysian consumers by bringing in popular models like the Seal, Atto 3, Dolphin, Sealion 7, and M6. – SIME DARBY MOTORS WEBSITE

Proton e.Mas arrives in Sabah, Sarawak, four showrooms launched KOTA KINABALU: Proton Holdings Bhd’s new energy vehicle subsidiary Pro-Net marked a milestone in the company’s dealership expansion efforts by officially launching Proton e.Mas dealerships in Sabah and Sarawak, bringing electric mobility solutions to customers in East Malaysia. Malaysia, Pro-Net CEO Zhang Qiang stated that the opening of the first dealerships in Sabah and Sarawak reflects the company’s commitment to making electric mobility accessible to all Malaysians.

The launch of new dealerships in Sabah and Sarawak demonstrates the company’s commitment to ensuring electric mobility is accessible to all Malaysians.

“With strong partners, we are confident that this milestone will accelerate the EV revolution in the region, bringing innovation, sustain ability, and an exceptional EV ownership experience to our cus tomers,“ he said. These new dealerships reflect Pro Net’s ongoing commitment to expanding the EV ecosystem in East Malaysia. The openings in Sabah and Sarawak are part of a larger vision to provide Malaysians with access to sustainable and innovative auto motive solutions while contributing to the region’s economic growth through job creation and the introduction of advanced technology. The contemporary showrooms

On Feb 8, the Proton e.Mas showroom of Harapan Maju Sabah Sdn Bhd was officially opened in Kota Kinabalu by Datuk Phoong Jin Tze, Sabah’s Minister of Industrial Development and Entrepreneurship, while in Sarawak, mayor of Kuching South Datuk Wee Hong Seng, launched the e.Mas dealership by Melinau EV Sdn Bhd on Feb 11. The expansion continues with Ghee Hua Co Sdn Bhd opening its showroom in Sarawak on Feb 13, followed by Fook Loi Eurocar Sdn Bhd in Sabah on Feb 28. Highlighting the positive impact of the company’s expansion in East

were crafted to display Proton’s electric vehicle technology and function as essential hubs for education and customer interaction. Proton e.Mas dealerships aim to

offer customers a more seamless experience by integrating sales with after-sales services, ensuring long term support for EV owners. With 37 Proton e.Mas dealerships

nationwide, Pro-Net is on a steady path of expansion. As the brand continues to grow, it will set the stage for further innovation and customer centric experiences.