New CEO for Naza Group announced

mototrader - SM Nasarudin SM Amin (right) has been involved in various activities of the company. This picture shows him sending off the first batch of Naza cars to Nepal last year

SM Nasarudin SM Nasimuddin has been appointed the NAZA Group of Companies Chief Executive Officer, taking over the role from his father Tan Sri SM Nasimuddin SM Amin who passed away on May 1 2008. The announcement, made by Puan Sri Zaleha Ismail, the wife of the late tycoon, noted that the appointment was in line with the wishes of the former CEO.

SM Nasarudin, 25, will also assume the post of Group's Executive Chairman. He is the second son in the family and prior to this appointment, he was already involved in a variety of subsidiaries of the family-owned group of companies which was established in 1974.

Though best known in Malaysia for its automotive business, the Naza Group is also involved in manufacturing, transport services, machine tools & parts, engineering, plantations, cigarette distribution, credit & leasing, watercrafts, properties, food & beverage outlet, hotel operations and insurance. It holds the franchises for Ferrari, Kia, Peugeot, Brabus, Hamann and Ducati, and also holds import permits for Mercedes-Benz and Mazda vehicles.

Want to be a millionaire?

UK probe into dead tycoon's business practices
By Leslie Lopez, THE STRAITS TIMES
Kingdom were alerted to a luxury auto distribution operation involving Malaysia's auto czar Tan Sri Nasimuddin Amin which was allegedly exporting cars to Malaysia using forged British vehicle-registration documents.

Now lawyers and auto executives wonder whether the probe will be abandoned following Tan Sri Nasimuddin's death in the US yesterday of cancer.

Sources close to the situation told The Straits Times that the investigation is in its initial stages and stems from a business disagreement between Tan Sri Nasimuddin and his one-time British business partner, Mr Nigel Peter Albon.

According to the lawyers and auto executives, the dispute is over funds Tan Sri Nasimuddin allegedly owed Mr Albon.

In the course of the legal wrangling, the mechanics of Tan Sri Nasimuddin's export operations surfaced.

The Malaysian tycoon was a major recipient of so-called Approved Permits (AP), which are essentially licences to import foreign cars into Malaysia. These APs are granted to a select group of government agencies and ethnic Malay businessmen like Tan Sri Nasimuddin.

Foreign auto industry executives have long argued for the scrapping of the controversial AP system citing concerns that the import licensing system is not well supervised, resulting in the loss of millions of ringgit in foregone tax revenues.

Auto industry executives say that in some instances new cars purchased overseas are passed off at the Customs entry point in Malaysia as second-hand vehicles using forged documents which predate the year of manufacture.

'By backdating the year of manufacture, the importer pays less tax to the government,' says a senior car industry executive familiar with the dispute between Tan Sri Nasimuddin and Mr Albon. more...

By the way, lets take a look at this ......

Nasimuddin inspirasi ahli perniagaan baru
Bekas Menteri Perdagangan Antarabangsa dan Industri, Datuk Seri Rafidah Aziz, berkata negara kehilangan seorang tokoh perniagaan Melayu yang berjaya dan harus menjadi contoh kepada semua.
“Saya kenal rapat dengan beliau dan memahami semangat inovasi dan pandangan jauh Allahyarham. Beliau nampak peluang yang ada dan berusaha gigih merealisasikannya.
“Saya sangat sedih dan mengucapkan takziah kepada Puan Sri Zaleha Ismail dan keluarga,” katanya. more...

and
SM Nasimuddin Is An Example Of Succesful Malay Corporate Leader ...
SM Nasimuddin Contoh Tokoh Perniagaan ...

And you guys know what to do.