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• NEWDec. 05, 2001

New Holding Company Established in Malaysia

Dec. 05, 2001

Daihatsu Motor Co., Ltd., Mitsui & Co., Ltd., and Perodua* (Perusahaan Otomobil Kedua Sdn. Bhd.) of Malaysia have concluded a joint venture agreement resulting in the establishment of a new holding company, Perodua Auto Corporation Sdn. Bhd. (PCSB).

The agreement was signed on 5th December, 2001, at Perodua's offices in Kuala Lumpur. Daihatsu President Takaya Yamada, Mitsui Director Motokazu Yoshida, and Perodua Chairman YABM Raja Tun Seri Mohar bin Raja Badiozaman took part in the ceremony.
The agreement establishes PCSB as a holding company consolidating Perodua Manufacturing Sdn. Bhd., which manufactures automobiles, and Perodua Engine Manufacturing Sdn. Bhd., an automotive parts maker. Aimed at boosting productivity, reducing costs, and improving the quality of Perodua vehicles, the new arrangement gives Daihatsu a greater role in company operations.
The move comes at a time Perodua is preparing for the free market competition that will result from the expected establishment of AFTA (the ASEAN Free Trade Area).

*Perodua was established in 1993 as a holding company by Daihatsu and five other companies to consolidate the production and sales of Malaysian national cars. The company presently manufactures and markets five national cars: the Kancil (based on the former Cuore), Rusa (based on the Zebra), Kembara (based on the Terios), Kenari (based on the Move), and Kelisa (based on the Cuore). Perodua vehicles hold about a 30% share of the Malaysian market.