Nasimuddin Amin
Encyclopedia
Tan Sri SM Nasimuddin SM Amin (25 January 1955 – 1 May 2008) was the founder, chairman and chief executive officer of the Naza Group
of Malaysia.
The Naza Group, formed in 1974, has 14 business divisions including motor trading, bikes, manufacturing, transport services, machine tools/parts, engineering, plantation, cigarette distribution, credit & leasing, water crafts, properties, hotel operation and insurance agency.
However, Naza is more famous for its automobile business. Naza Group currently holds the Malaysian franchise for South Korea
's Kia
vehicles, and France
's Peugeot
vehicles. It also holds the import permits for Mercedes Benz and Mazda
vehicles.
, Negri Sembilan.
In 1974, when he was 19, he had RM80,000 in his bank account which he saved from his remunerations from helping out his contractor father. He started his automobile business with an allocation of Approved Permits (APs) to import foreign cars. APs are government-issued permits to import cars for bumiputra
s. He made his first million in about a year.
. He spent three months there and brought in his first 20 units of used Japanese cars, which he sold in three months.
Nasimuddin started his automobile business with a shoplot in Taman Maluri
selling 10 to 15 units of cars each month. In 1979, he opened a branch in Kampung Baru
, Kuala Lumpur
doing retail and selling 40 to 60 cars monthly.
During those years, Nasimuddin had already shown his business acumen when he decided to import used Japanese cars at a time when Japanese cars were popular with Malaysians.
He faced some challenges, including financing and how to convince customers to buy used cars when many were then not keen on foreign cars. But his passion and faith in the business drove him to success.
“To succeed you must love what you do and you must know what you are doing. You must plan ahead and have direction,” he said. “In business you must start from small, study everything and go step by step.”
Despite being a highly successful and wealthy businessman, Nasimuddin says he has not changed much. “The only difference is that I started off with five employees and now I have about 4,000,” he claims.
He owned TTDI Development which is one of the most prominent real estate companies in Kuala Lumpur
.
The Naza Group currently holds the Malaysian franchise for South Korea
's Kia
vehicles, and France
's Peugeot
vehicles. It also holds the import permits for Mazda
vehicles. Naza has now also become the biggest and most prominent importer of luxury high-end vehicles like Mercedes Benz in Malaysia with endeavours such as Naza-Brabus.
He was reported to be interested in buying a 40% interest and taking over Malaysia's national carmaker, Proton, which was reported to be in financial turmoil. He stated that he had already drawn his plan in turning around Proton if the Malaysian government gave the nod for him to buy a controlling stake of the company. He planned to build a RM1.2 billion factory in Bertam, Penang
.
In April 2008, he ventured into the food business by launching the Bubba Gump Shrimp Co. Restaurant and Market.
s. The practice of APs helped shift dominance of the car import industry from the ethnic Chinese
to the Malays
. Former Prime Minister Tun Dr Mahathir Mohamad described Nasimuddin as an example of the New Economic Policy
's (NEP) success, Bernama reported.
He said Nasimuddin had an extraordinary approach in developing his business, starting with selling imported used cars from Japan and then going on to collaborating with foreign companies to produce and sell local cars under his own brand name.
"He proved that the NEP was capable of producing successful bumiputras if they seized the available opportunities well. If all had the same opportunities and did what he had done, we may have achieved more than the NEP objectives," Dr Mahathir told Bernama.
, USA on 1 May 2008. He was 53 years old. His body was brought back to Malaysia on 4 May 2008 and taken to Masjid Wilayah, Jalan Duta. More than 6,000 people came to Masjid Wilayah to pay their last respects including the Prime Minister Datuk Seri Abdullah Ahmad Badawi, and former Prime Minister Tun
Dr
Mahathir bin Mohamad
. The body was later taken to Batu 9 Muslim Cemetery in Hulu Langat
, Selangor
to be buried next to the grave of his beloved mother, Salbiah Abdul Majid.
Naza
Naza Group of Companies is a Malaysian business conglomerate associated with motor trading, automotive franchises and property development, which began operations in 1974...
of Malaysia.
The Naza Group, formed in 1974, has 14 business divisions including motor trading, bikes, manufacturing, transport services, machine tools/parts, engineering, plantation, cigarette distribution, credit & leasing, water crafts, properties, hotel operation and insurance agency.
However, Naza is more famous for its automobile business. Naza Group currently holds the Malaysian franchise for South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
's Kia
Kia Motors
Kia Motors , headquartered in Seoul, is South Korea's second-largest automobile manufacturer, following the Hyundai Motor Company, with sales of over 1.4 million vehicles in 2010...
vehicles, and France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
's Peugeot
Peugeot
Peugeot is a major French car brand, part of PSA Peugeot Citroën, the second largest carmaker based in Europe.The family business that precedes the current Peugeot company was founded in 1810, and manufactured coffee mills and bicycles. On 20 November 1858, Emile Peugeot applied for the lion...
vehicles. It also holds the import permits for Mercedes Benz and Mazda
Mazda
is a Japanese automotive manufacturer based in Fuchū, Aki District, Hiroshima Prefecture, Japan.In 2007, Mazda produced almost 1.3 million vehicles for global sales...
vehicles.
Background
Born in 1955, Nasimuddin was always interested in cars and the automobile industry. He received his early education from Sekolah Rendah Tunku Munawir (1961–1966). He then studied at Sekolah Menengah Tuanku Muhammad (1967–1972). Both schools are located in Kuala PilahKuala Pilah
Kuala Pilah is a town and district in Negeri Sembilan, Malaysia. Commonly called Pilah by the mainly Malay Minangkabau inhabitants, it is also the name of a district. It is an old valley town with many of the pre-war Chinese shophouses still fronting the main streets surrounded by traditional style...
, Negri Sembilan.
In 1974, when he was 19, he had RM80,000 in his bank account which he saved from his remunerations from helping out his contractor father. He started his automobile business with an allocation of Approved Permits (APs) to import foreign cars. APs are government-issued permits to import cars for bumiputra
Bumiputra
Bumiputera or Bumiputra is a Malay term widely used in Malaysia, embracing indigenous people of the Malay Archipelago. The term comes from the Sanskrit word bhumiputra, which can be translated literally as "son of land"...
s. He made his first million in about a year.
Going into business
With the RM80,000 he bought 20 APs and then flew to JapanJapan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
. He spent three months there and brought in his first 20 units of used Japanese cars, which he sold in three months.
Nasimuddin started his automobile business with a shoplot in Taman Maluri
Maluri
Maluri is one of the main housing estates in the outskirts of Kuala Lumpur, near the state border to Selangor. It can be accessed through the Maluri LRT station on the Ampang Line. It is the closest housing estate to Kuala Lumpur's Golden Triangle and is accessed via Jalan Cochrane, Jalan Perkasa,...
selling 10 to 15 units of cars each month. In 1979, he opened a branch in Kampung Baru
Kampung Baru
Kampung Baru is a Malay enclave in the heart of Kuala Lumpur, Malaysia.It is also one of the most valuable tracts of land in the capital and is estimated to be worth up to US$1.4 billion...
, Kuala Lumpur
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
doing retail and selling 40 to 60 cars monthly.
During those years, Nasimuddin had already shown his business acumen when he decided to import used Japanese cars at a time when Japanese cars were popular with Malaysians.
He faced some challenges, including financing and how to convince customers to buy used cars when many were then not keen on foreign cars. But his passion and faith in the business drove him to success.
“To succeed you must love what you do and you must know what you are doing. You must plan ahead and have direction,” he said. “In business you must start from small, study everything and go step by step.”
Despite being a highly successful and wealthy businessman, Nasimuddin says he has not changed much. “The only difference is that I started off with five employees and now I have about 4,000,” he claims.
Businesses
The Naza Group now has 14 business divisions covering industries such as cigarette distribution, credit and leasing, engineering, hotels, insurance, machine tools and parts, manufacturing, motorcycles, property, transport services, plantations and water craft.He owned TTDI Development which is one of the most prominent real estate companies in Kuala Lumpur
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
.
The Naza Group currently holds the Malaysian franchise for South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
's Kia
Kia Motors
Kia Motors , headquartered in Seoul, is South Korea's second-largest automobile manufacturer, following the Hyundai Motor Company, with sales of over 1.4 million vehicles in 2010...
vehicles, and France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
's Peugeot
Peugeot
Peugeot is a major French car brand, part of PSA Peugeot Citroën, the second largest carmaker based in Europe.The family business that precedes the current Peugeot company was founded in 1810, and manufactured coffee mills and bicycles. On 20 November 1858, Emile Peugeot applied for the lion...
vehicles. It also holds the import permits for Mazda
Mazda
is a Japanese automotive manufacturer based in Fuchū, Aki District, Hiroshima Prefecture, Japan.In 2007, Mazda produced almost 1.3 million vehicles for global sales...
vehicles. Naza has now also become the biggest and most prominent importer of luxury high-end vehicles like Mercedes Benz in Malaysia with endeavours such as Naza-Brabus.
He was reported to be interested in buying a 40% interest and taking over Malaysia's national carmaker, Proton, which was reported to be in financial turmoil. He stated that he had already drawn his plan in turning around Proton if the Malaysian government gave the nod for him to buy a controlling stake of the company. He planned to build a RM1.2 billion factory in Bertam, Penang
Penang
Penang is a state in Malaysia and the name of its constituent island, located on the northwest coast of Peninsular Malaysia by the Strait of Malacca. It is bordered by Kedah in the north and east, and Perak in the south. Penang is the second smallest Malaysian state in area after Perlis, and the...
.
In April 2008, he ventured into the food business by launching the Bubba Gump Shrimp Co. Restaurant and Market.
AP Controversy
Nasimuddin was implicated in the AP controversy of 2005, when he was dubbed the "AP King". It was claimed that he and three other prominent businessmen were monopolising the issuance of Approved Permits (APs). APs are government-issued permits to import cars for bumiputraBumiputra
Bumiputera or Bumiputra is a Malay term widely used in Malaysia, embracing indigenous people of the Malay Archipelago. The term comes from the Sanskrit word bhumiputra, which can be translated literally as "son of land"...
s. The practice of APs helped shift dominance of the car import industry from the ethnic Chinese
Malaysian Chinese
Malaysian Chinese is a Malaysian of Chinese origin. Most are descendants of Chinese who arrived between the fifteenth and the mid-twentieth centuries. Within Malaysia, they are usually simply referred to as "Chinese" in all languages. The term Chinese Malaysian is also sometimes used to refer to...
to the Malays
Malaysian Malay
In Malaysia, the Malay population is defined by Article 160 of the Malaysian Constitution as someone born to a Malaysian citizen who professes to be a Muslim, habitually speaks the Malay language, adheres to Malay customs and is domiciled in Malaysia or Singapore...
. Former Prime Minister Tun Dr Mahathir Mohamad described Nasimuddin as an example of the New Economic Policy
New Economic Policy
The New Economic Policy was an economic policy proposed by Vladimir Lenin, who called it state capitalism. Allowing some private ventures, the NEP allowed small animal businesses or smoke shops, for instance, to reopen for private profit while the state continued to control banks, foreign trade,...
's (NEP) success, Bernama reported.
He said Nasimuddin had an extraordinary approach in developing his business, starting with selling imported used cars from Japan and then going on to collaborating with foreign companies to produce and sell local cars under his own brand name.
"He proved that the NEP was capable of producing successful bumiputras if they seized the available opportunities well. If all had the same opportunities and did what he had done, we may have achieved more than the NEP objectives," Dr Mahathir told Bernama.
Awards and recognition
- In appreciation of his services and contributions, he was bestowed with several awards, which among others, include the federal award Panglima Setia Mahkota (P.S.M.) by His Majesty Seri Paduka Baginda Yang di-Pertuan AgongYang di-Pertuan AgongThe Yang di-Pertuan Agong is the head of state of Malaysia. The office was established in 1957 when the Federation of Malaya gained independence....
, which carries the title Tan Sri
- In 2002, Tan Sri SM Nasimuddin was named Motoring Man of The Year by the News Straits Times
- Tan Sri SM Nasimuddin SM Amin received one of South KoreaSouth KoreaThe Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
’s highest awards for his contribution to the automotive industry. He received the Presidential Award industrial service medal from South Korean ambassador to Malaysia Son Sang-Ha, on behalf of the President of South KoreaPresident of South KoreaThe President of the Republic of Korea is, according to the Constitution of the Republic of Korea, chief executive of the government, commander-in-chief of the armed forces, and the head of state of the Republic of Korea...
, at a ceremony at the embassy in Malaysia. He is the first Malaysian to have received the award
Death
Nasimuddin died of stage four lung cancer at a private hospital in Long Beach, CaliforniaCalifornia
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, USA on 1 May 2008. He was 53 years old. His body was brought back to Malaysia on 4 May 2008 and taken to Masjid Wilayah, Jalan Duta. More than 6,000 people came to Masjid Wilayah to pay their last respects including the Prime Minister Datuk Seri Abdullah Ahmad Badawi, and former Prime Minister Tun
Tun
- Science and technology :* TUN/TAP, a computer network device driver* TUN , a Danish product standard for building materials* Tun , a part of the Mayan long count calendar system* A unit of time in the Mayan Long Count calendar...
Dr
Doctor (title)
Doctor, as a title, originates from the Latin word of the same spelling and meaning. The word is originally an agentive noun of the Latin verb docēre . It has been used as an honored academic title for over a millennium in Europe, where it dates back to the rise of the university. This use spread...
Mahathir bin Mohamad
Mahathir bin Mohamad
Tun Dr. Mahathir bin Mohamad . is a Malaysian politician who was the fourth Prime Minister of Malaysia. He held the post for 22 years from 1981 to 2003, making him Malaysia's longest serving Prime Minister. His political career spanned almost 40 years.Born and raised in Alor Setar, Kedah, Mahathir...
. The body was later taken to Batu 9 Muslim Cemetery in Hulu Langat
Hulu Langat
Hulu Langat is a district and also a parliamentary constituency located between Kuala Lumpur and Putrajaya. Being located in the southeast corridor of the Klang Valley, it is quietly booming...
, Selangor
Selangor
Selangor also known by its Arabic honorific, Darul Ehsan, or "Abode of Sincerity") is one of the 13 states of Malaysia. It is on the west coast of Peninsular Malaysia and is bordered by Perak to the north, Pahang to the east, Negeri Sembilan to the south and the Strait of Malacca to the west...
to be buried next to the grave of his beloved mother, Salbiah Abdul Majid.