KUALA LUMPUR (Aug 27): Bermaz Auto Bhd (KL:BAUTO), which primarily assembles Mazda-branded vehicles and distributes Kia vehicles in Malaysia, on Tuesday said that it does not expect the newly implemented e-invoicing to adversely affect its businesses.

Bermaz group chief executive officer Datuk Francis Lee Kok Chuan said that the company had always adhered to transparent pricing practices and never inflated invoice prices.

“For car models that inflate their invoice prices, they will be affected. But, as far as I am concerned, we don't inflate our car invoice prices to the banks. So, we are not impacted by e-invoicing,” Lee said at a press conference at the launch of Chinese electric vehicle model XPeng G6.

Research firm TA Securities expects that e-invoicing could impact car sales, as it may make it difficult for buyers to secure full loans from sales agents who have historically inflated invoices, according to its note in July.

This system will require all invoices to be submitted directly to the Inland Revenue Board via the e-invoice portal, reducing opportunities for invoice mark-ups.

Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has dismissed the concern that e-invoicing will impact overall vehicle sales for this year, as the system will only apply to companies with annual revenue or sales exceeding RM100 million.

“In theory, there should be no effect, because for car sellers, their companies are not that large,” Zafrul said at the Halal Accreditation and Technology Improvement (Hati) launch in July. 

However, Zafrul noted that there were concerns among some dealers who offered full financing packages for car purchases. 

The first phase, starting Aug 1, involves around 3,500 companies with annual revenues over RM100 million, with the government handing a six-month grace period to taxpayers to ensure a smooth implementation.

Phase 2 is set to begin in January next year for companies with annual revenues of between RM25 million and RM100 million, with all other taxpayers expected to join by July 1, 2025, excluding those with annual turnovers under RM150,000.

At Tuesday's noon break, shares of Bermaz were three sen or 1.24% higher at RM2.45, valuing the company at RM2.87 billion.

Read also:
Bermaz Auto introduces XPeng G6 in Malaysia, focuses on brand presence over immediate profit
E-invoice implementation won't impact vehicle sales this year, says Zafrul
E-invoicing to dent car sales, with limited impact on auto firms with in-house financing — TA Securities
Car sales may be impacted by e-invoicing compliance, says TA Securities