14 
business
Naza Italia gets Maserati
dealership in Malaysia
KUALA LUMPUR: The Naza Group Of Com-
panies, via its subsidiary, Naza Italia Sdn
Bhd, will soon be launching the highly desir-
able and respected Italian luxury marque,
Maserati, in the Malaysian market.
Naza Italia has been appointed the sole
importer and distributor by Maserati Italy
for its complete range of Quattroporte and
GranTurismo super luxury cars in Malaysia.
The company will make an official an-
nouncement tomorrow.
This development marks another
milestone for the company, less than a
year after the company was appointed
the Ferrari dealership in April 2008.
“We are so proud that as a young
company, Naza Italia has secured two
impressive brands, Ferrari and Maserati,
within the group,” its group chief execu-
tive officer SM Faisal SM Nasimuddin told
Bernama in an interview.
‘“The appointment shows the trust and
commitment that Italian companies have
in our capability to marketing such luxury
cars in the Malaysian market,” he said.
Faisal said the overwhelming response
received by Naza Italia since its appoint-
ment as Ferrari distributor has prompted
the company to set up one of Asia-Pacif-
ic’s largest showrooms and 4S centres
(four service centres) dedicated to serve
Ferrari and Maserati car owners.
The RM10 million centre, located next
to the Naza Automall Petaling Jaya, is
expected to commence operations by
end of March.
“The new centre will be one of the larg-
est facilities outside Italy because what we
are delivering to Malaysia and is something
different from other importers, a true brand
ownership experience.”
Describing 2009 as an exciting year for
the company, he said the enthusiast luxury
car market in Malaysia could expect a lot
of interesting products and whole brand
experience for Maserati and Ferrari soon.
Faisal pointed out that sales of Ferrari
have shown an encouraging sign despite
the global economic slowdown.
To date, there are about 400 units of
Ferrari sold in the Malaysian market priced
more than one million ringgit each.
“Our luxury car segment is not very
much affected for the time being as the
product that we are dealing with are very
much of the upper group of clientele and
the production is very limited,” he said.
He said it was timely for buyers to
purchase imported cars, especially used
cars, during the economic slowdown as
prices are coming down.
“Buyers should also take advantage of
the depreciation of the pound sterling,”
said the eldest son of the late Tan Sri SM
Nasimuddin, the founder of Naza Group
of Companies.
Asked who now manages the group,
Faisal said he was responsible for the
growth of 24 multi-companies under Naza
Group which are spread over eight sectors.
The companies under him are Naza
Motor Trading, Naza Italia, Naza-Brabus
Motor, NZ Wheels, Naza Premier Auto,
Naza Mekar, Naza Wheels, Naza Ventures,
Naza Prestige Bikes, Next Bike and Naza
Bikers Dream.
His younger brother, SM Nasarudin,
has been given the task of helming three
automotive companies namely, Nasim
(Peugeot), Naza Kia, Naza brand of cars,
hotel and food and beverage.
The youngest brother, SM Faliq, heads
the group’s leading property development
firm, Naza TTDI.
theSun | WEDNESDAY FEBRUARY 25 2009
BNM cuts OPR by 50bps to 2%
KUALA LUMPUR: Bank Negara
Malaysia (BNM) yesterday de-
cided to cut the Overnight
Policy Rate (OPR) by 50 basis
points (bps) to 2% due to rising
“The domestic economic
conditions are expected to
continue to remain challenging
in the coming quarters with the
continued deterioration in the
concern about the country’s global economy,” BNM said in
economic growth. a statement after its Monetary
The bank also cut its statu- Policy Committee meeting.
tory reserve requirement by This was the third straight
100bps to 1% and said measures rate cut in as many meetings
would be introduced to ensure and came after a 75bps cut in
continuous access to credit. January.
Govt can act as
banker, says Mahaleel
KUALA LUMPUR: The government can act as a banker
by giving out loans to the public to address the issue of
banks limiting their lending, said Tengku Tan Sri Dr Mahaleel
Tengku Ariff, the independent, non-executive director of
Nestle (M) Bhd.
Nestle Mahaleel, who is also a visiting professor of the School
lowers of Management, Universiti Sains Malaysia, said the govern-
ment could set a fund.
price of “There is no law to say that the government cannot be
beverages a banker,” he told reporters after presenting his paper at
pg 17 the seminar on “Riding the Global Economic Storm: Tips for
Malaysian Businesses” here yesterday.
Mahaleel said the lending issue needed to be dealt with
first so as to spur economic activities, particularly in motor
vehicle and construction industries.
He said the proposal to allow owners of cars that were
15 years or older to claim a RM5,000 discount for the pur-
chase of a new car was “a step” but it did not address the
core issue. “The root problem is that banks are not lending
and the people’s buying power or the ability to repay, has
been reduced,” said Mahaleel, who was former group chief
executive officer of Proton Holdings Bhd. – Bernama