History and Background

The history of this Association dates back some years since its formation in 1965 with a current membership of ...... members representing the finance, credit, leasing, new and used car companies and motor cycle companies.

The Association is managed by an elected Council and monthly meetings are held to conduct the affairs of the Association. To ensure an effective management six Committees are established namely the Consumer Affairs, Development, Public Relations and Technical to deal promptly with specific problems. We have also set up Regional Committees in Sabah and Sarawak to cater to the needs of our East Malaysian members.

In furtherance of the interest of the industry and to alleviate possibility of multiple financing transactions, the Association in 1986, jointly with Association of Finance Companies of Malaysia set up a computer service bureau, M/s Financial Information Services Sdn Bhd (FIS) to undertake registration of vehicles and equipment financed by member companies of both Associations on Hire Purchase, leasing and Block Discounting. Today over 4,000,000 records on vehicles equipment, hirers, lessees and guarantors are stored on the master file of FIS Vehicle and Equipment Registry, which is constantly up-dated with records on stolen vehicles obtained from the Police and vehicles and equipment detained by the Customs.

Objective

The objectives of the Association are to promote, enhance, protect and safeguard the interests of its members with particular reference to the hire purchase industry.

The Association would like to highlight some of the services rendered in solving the industry's numerous trading and legal problems by:

• Regular dialogue sessions with the Road Transport Department and Transport Ministry on the Road Transport Act and Rules on Motor Vehicles (previously known as Road Traffic Ordinance).
• Regular dialogue sessions with Ministry of Domestic Trade and Consumer Affairs on the Hire Purchase Act.
• Liasing with the Customs Department on detained vehicles and  their release.
• Liasing with the Police Department on preventive measures to avoid theft and fraud.
• Liasing with other relevant government bodies on problems encountered.

Also, through these dialogue sessions the Association was able to offer practical suggestions and achieve an understanding from the the government authorities.

Members companies have easy and speedy access to status reports on hirers, lessees, guarantors, as well as on vehicles and equipment through enquiries by telephone and facsimile machine at very low charges.

We make every effort to disseminate relevant information, legal or otherwise, considered beneficial to Members through regular circulars.

The Association, in its continuing efforts to maintain close rapport among Members, also organise games for members to meet and compete in an atmosphere of friendly competition.

Procedures To Join Association

- To supply Certified True Copies of Certificate of Incorporation, M & A, Forms 24, 44 and 49.

Application is to be submitted together with the relevant payment made out to the Association of Hire Purchase Companies Malaysia.

Voting-Members - RM1,000.00

Non-Voting Members - RM800.00

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