Govt okays 51% sale of proton manufacturing

[Sato]

VW can now control 51% of Proton manufacturing.

Say bye-bye to all AP Kings as we might see locally produced VW and Audi branded cars soon I hope.

Link: http://www.theedgedaily.com/cms/cont...b6400-37046e77[/QUOTE]

[tupai]

if VW can turn skoda around...this is kacang putih lah. But only if vw can gain control, qc, pricing over production of local parts will they jv with proton. These areas had been, has been, are goldmines to many corrupted employees, all te way to the very top, for years! And was a major contributor to the lapsed nego the last time...
badawi & gang better wake up to reality and there really isnt any other suitor to this white elephant of a proton. (the japs, the chinese, the korean as partner? u think they stupid or what?)

Yang Akan Beli new imported tin-can lato tupai

[uchangeng]

This is a commercial decision, politicians should stay out.

For the survival of the industries, the future of the company and the fate of the 6000 employees, I believe Khazanah is making a good decision.

Pak Lah can finally show the world that his admistration is capable of seeing business value, not something elses's interest!

[penangkia]

The domestic distribution arm will still remain in Proton's domain and reported of the agreement. So don't expect any immediate drop in prices. The gomen will still ensure imported cars are priced high.

New brand name VolksTon Beatle.

[Raikonen]

The govt should just close Proton down period. WE dun deserve to pay for its incompetence and its inability to compete. Its existence only serves as a burden to the ppl who have to pay for expensive cars and taxes to feed all the cronies.

[kelvinwkw]

To my point of view, govt wont sell off Proton 51% to VW, it just a way to shut someone's mouth up.

If they really plan to let the 51% go, why the previous talk with VW in the soup?

[Sentinel]

What one can see here in China that Volkswagen has done to their domestic auto industry, I think the government has just made the right decision.

80-90% of all taxis in China, especially here in Shanghai, are using the very reliable 1.6 and 1.8 VW Santana 2000 and Santana 3000 respectively.

There are VW Polos, Golfs, Bora, Passat everywhere.

Look at the Audi A4s, the A6s and the A6Ls....

Look at the luxurious lines of VW Touregs, the Audi A8s on the Chinese roads.

Bravo, I think giving management control and directional control to VW is probably the wisest thing the AAB administration has ever made in its economic decisions. It should have been 2 years ago but then its better late than never!

[isarahim]

I don't think there's any reason to say 'bravo', 'well done' etc.

There is simply no other choice. Either you play AFTA or you don't. Either you comply with your US and EU bilateral arrangements or you don't. Full stop.

The damage to the once thriving Malaysian automotive parts industry has already been done ages ago, and it will take decades to repair it.

[Joe Gomez]

isarahim, sir, to the following from Sentinel.........

....................Bravo, I think giving management control and directional control to VW is probably the wisest thing the AAB administration has ever made in its economic decisions. It should have been 2 years ago but then its better late than never!

... you said the following .......

I don't think there's any reason to say 'bravo', 'well done' etc.

...... I do agree that one does not deserve to be congratulated for what one has no choice but to do .......
But sir, IMHO, the present gormen has chosen to swallow its Bumi pride and try to come to terms with that reality of AFTA ( even an iota of reality is good methinks !!! ) ..............
I would want to congratulate Pak Lah for the sheer will needed to make such a decision and to face possible further backlash at the polls from those among the Malays ( not all Malays, of course ) who view any such move that dilutes the size of Bumi holdings in any company as almost sacrilegious. Quite forgetting or chosing to forget or simply denying the sheer common sense of such a move.
As all of us in Malaysia know, there is not one Indian, Chinese or non-UMNO Malay capable of running any darn company in this country ............. all of us call this affirmative action .......... in other words waiting for the UMNO Malay to learn what many of the rest of us knew anyway i.e. PROTON WAS A DISASTER WAITING TO HAPPEN.
Lets us offer our thanks to the Venerable Tun for the valuable advise thus far proferred to this gem in the crown of the UMNO Bumis.

[Raikonen]

Read in papers today that the govt will still maintain control of proton even though giving the 51% controlling stake to the foreigners?? seems like an oxymoron to me

The proton branding has already been damaged beyond salvation. Tell would you buy a toyota/honda or proton if they are the same price?

[Sentinel]

PROTON WAS A DISASTER WAITING TO HAPPEN.
Lets us offer our thanks to the Venerable Tun for the valuable advise thus far proferred to this gem in the crown of the UMNO Bumis.

I am sure the old man would not feature as an ADVISOR in the new equation with Volkswagen.

Just for our own comfort, look at the Volkswagen business in Brazil and China and we should feel relatively safe these guys know what they are doing.

Looking at their up-market range of Touregs and Audi A8s and even winning the Le Mans 24-hour race in an Audi-powered car tell us these folks are simply "automobile builders".

My advance condolences to those fly-by-night auto part suppliers in Puchong, Pandamaran and those who in USJ1 too.... Volkswagen would not use you thats for sure! You have had a good 20 years of screwing up the Malaysian auto industry, go take a rest and enjoy your millions now, enough already!

[fabregas]

Proton is too deeply entrenched in a significant portion of the Malaysian economic ecosystem. Hundreds of companies and Thousands of people depend on them for their livelhood. Also EPF has a very significant amount of Proton shares (which is dropping in value), so you and I are probably shareholders, indirectly. But this is no excuse to compromise on quality and service. I hope this VW deal goes thru AND efforts to improve efficiency and quality are successful. Proton can be successful, just like Produa (51% control by Daihatsu)

[tupai]

Proton is too deeply entrenched in a significant portion of the Malaysian economic ecosystem. ..Proton can be successful, just like Produa (51% control by Daihatsu)

undeniably, many votes are spoon-fed proton. Its no diff from the inefficiencies of the civil service...but thats another story.

Yes, go the way of perodua. Foreign partners own majority management & production. Bolehnauts own the distribution chain...minimal foreseeable damage that way.

Yanag Akan Beli saham proton or maybe nauts lato tupai

[USJ27Resident]

Proton Holdings Bhd will remain in the Government’s control even if 51% of Proton’s manufacturing division is sold to a strategic partner, said deputy Finance Minister Datuk Dr Awang Adek Hussin.

Huh... not so fast... as long as the Govt has a Golden share or controlling interest, it would tantamount to external meddling or external kacau-ing which would turn off any smart investor...

[birdy]

Well... there was a news announced that despite the 51% to be owned by VW... the government will still in control...Maybe this is a way for them to stay in the market.... looking at their quality.. 10 out of 10 cars produced by them has problem...either minor or major.