Sistem Tukar Milik Sementara
Car owners will now be able to transfer the ownership of their cars temporarily to used car dealers through the online Interim Ownership Transfer System, or the Sistem Tukar Milik Sementara (STMS), when they sell their cars.
Transport Minister Datuk Seri Kong Cho Ha, who launched the system here Monday, said this would prevent car owners from getting fines and summonses, and installment notices from financial institutions, after they have sold their cars to used car dealers.
With this system, car owners who want to sell their cars through used car dealers will be able to register their vehicles through the STMS system and obtain a receipt as proof that they have transferred the ownership temporarily to the dealer.
If the vehicle is not sold after six months, the used car dealer will be given permanent ownership of the vehicle.
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18-01-2015, 10:49 PM