Monday, July 6, 2009

Sime takes back All Hyundai Distributorship

This is actually old news, but I didn't cover it before.

Sources:
Sime Darby to distribute all Hyundai models
The Difference between Hyumal and Kah Bintang

Forums:
Motor Trader
Team Hyundai Malaysia

"Sime Darby’s Motor Group, through its Hyumal subsidiary, will fully acquire Oriental-Hyundai Sdn Bhd (OHSB), a joint-venture between Hyumal and the Oriental Group involved in the distribution and sale of locally-assembled Hyundai models. According to statements made to Bursa Malaysia yesterday, Hyumal will be offered Oriental’s 60% share in OHSB for RM19.8 million, as specified in the conditional Share Purchase Agreement between the two parties."

Some history:
1992: Berjaya established Hyumal Sdn Bhd representing Hyundai in M'sia to sell CBU cars through leniently applied APs, with the intention of setting up Hyundai CKD cars.
1997: Hyundai Motor, Renault & Hyumal had a JV in Inokom Sdn Bhd.
2001: Hyumal & Oriental Holdings had a JV called Oriental-Hyundai Sdn Bhd (OHSB). There was no investment by Hyundai Motor in OHSB. OHSB setup Kah Bintang to sell Hyundai CKD cars (Accent, Elantra & Sonata).
2004: Sime Darby buys Hyumal (CBU) and Inokom (CKD)
2005: Sime bought Hyumal & Inokom from Berjaya. Hyundai-Berjaya Sdn Bhd is now known as Hyundai-Sime Darby motors. Sime also inherits OHSB from this purchase.
2009: Sime fully aquires OHSB.

However, the warning to journalist as below is ridiculous:
OHSB warned that 'Hyundai Motor, is extremely sensitive to negative write-ups'; in one instance in 2005, a journalist who had made some negative comments about one of the models in his test report received a serious note from a marketing guy on OHSB telling him that Hyundai would take legal action against him for such comments!

What does this mean to Hyundai car owners? Will we have more service centers? Better and more professional service? Improved technical competency? Faster warranty claims processes? We'll have to wait to find out.

No comments: