Malaysia-based automotive marketplaces Carsome and MyTukar are both in the running for a government license that would enable them to conduct vehicle inspections and transfer car ownership.

MyTukar is a subsidiary of Singapore-based Carro.

However, both Carsome and MyTukar face an uphill struggle because they need the Ministry of Transport (MoT) to end the monopoly that has been enjoyed by Puspakom Sdn Bhd — a conglomerate that is 56% owned by businessman Tan Sri Syed Mokhtar Albukhary — in this area for almost three decades.

These inspections aim to establish the fair value of vehicles for all parties in used car sales, according to the MoT.

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