No need for any cutting or whatever. In fact, if you find the correct size of screws, you don't even need clips.
1) remove the lower section of the dash's fascia. There are two screws underneath the aircond controller, and one screw behind the ashtray. The top part, just underneath the aircond vents, are clipped on. Just pull it out with enough force.
2) Look at the reverse side of the dash fascia that you've just taken out. At the top part, where it was previously below the aircond vent, you'll see the blanking panel used to cover the hole. It's held there by a pair of small screws. Just take it off, and you'll get the hole there.
3) Look at the naked portion beneath the aircond vents. You'll see a big gaping hole into which the cup holder will fit. There are two big holes flanking it. Under normal circumstances, you'll need a pair of folded clips and fat self-tapping screws. However, you can use normal non-self tapping screws, that are either 3/8" or 1/4" in diameter, I kinda forgot. Just measure it with a vernier caliper to find out.
4) Put the cup holder in place, align the holes properly, and bolt it in place with the screws. The screws will thread right into the plastic, because the plastic is quite thin. But it's resilient, so don't worry about it. It's not easy to take it off when fixed up like this.
5) Snap the dash fascia back on, and re-insert the screws.
That's it, job complete!