Business Services Industry
After AFTA, INVESTOR DIGEST
Investor Digest (Malaysia), June, 2003
Investor Digest (Malaysia) 06-16-2003 WHILE Malaysians are not likely to see prices of luxury cars like the Mercedes taking a steep dive with the coming into force of the impending Asean Free Trade Area (AFTA) agreement aimed at dismantling protective tariffs, national car maker Proton is taking no chances.
The Malaysian government had recently indicated that come AFTA, it would impose other taxes on foreign made cars to compensate for the loss in excise duty on such cars, one of its main revenue earner. Perusahaan Otomobil Nasional Bhd (Proton), the first domestic car manufacturer, is already gearing itself up to face post-AFTA competition where its main rivals are expected to be the more affordable lower end non- national makes like Toyota and Honda....
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