Proton Holdings Bhd needs a foreign strategic partner to enable it to expand its overseas markets by producing high-quality cars and strengthen its position in the long run.Johari said it was better for a Malaysian origin car to become a well-known international brand, rather than stay domestic and sell between 200,000 and 300,000 units, which is not sustainable. Like selling of the Ambassador brand to Peugeot is an eyebrow raiser. Why would anyone want to revive a car that is deservedly dead and in the minds of many, took far too long in its death sequence a la a Hindi film hero in the 70s? Clearly, Peugeot has no interest in the car in its physical form; what it is buying is the idea of the Ambassador, and the meaning that it can give it in today’s context
that Proton squatted on the ground, embracing its own centre of gravity. It is a car that clearly believed that it was better to waddle than to race and moved with stolid disregard for one’ surroundings or one’s intent.the gears shifted with a grunt and the car began its journey with a groan. It drove one with the laconic recalcitrance of the father Mahathir was status quo on wheels, a car that allowed one to stand still even as one moved and to do so with one’s entire way of life intact. It pointed nowhere and took us nowhere, which was where Mahathir wanted it to be…No witch hunts: If government wants to be in business, a sophisticated approach to corruption is needed It is a truism to say that balance sheet problems of public sector companies today represent one of the most fragile dimensions of the Malaysian economy. Weighed down by bad management practices,
Proton Holdings Bhd needs a foreign strategic partner to enable it to expand its overseas markets by producing high-quality cars and strengthen its position in the long run.
Finance Minister II Johari Abdul Ghani said it was time for Proton to stand on its own feet after 32 years of government supervision.”The strategic partner can help enhance Proton’s technology and ability to compete in the international markets and produce high-quality cars,” Johari told reporters after launching ‘Aplikasi Mobile Semakan BR1M’ (BR1M Mobile App Checker) in Kuala Lumpur yesterday.
Dismissing an allegation Proton would sell a 51 percent stake to a foreign automaker, he said the government viewed seriously the national carmaker’s position as the company and its subsidiaries had provided plenty of jobs to locals.
“The Proton ecosystem is important to the government. If it is not managed well, the jobs created will be lost, a situation that the government does not want to happen during the current economic conditions,” Bernama quoted Johari (photo) as saying.
Earlier yesterday, former prime minister Dr Mahathir Mohamad warned that selling off the controlling stake in national carmaker Proton to foreigners would not be beneficial for the country.
“My fear is that if we do not own Proton any more the Malaysian automotive industry will suffer a great loss.
“The vendors and suppliers of components will close shop. Lots of workers will lose their jobs. And Malaysia’s engineering capacity will be reduced,” Mahathir wrote on his blog.
Consequently, he said, Malaysia would not be a developed country by 2020 or even later, and that Malaysia would remain a Third World developing country.
Mahathir, who was Proton’s adviser after stepping down as prime minister in 2003 until 2016, said he was sad that the firm now had to be sold to foreigners.
“Having a strategic partner is okay. But once Proton is sold to foreigners it will cease to be a national car
.On Feb 10, Johari was reported as saying that the government has no issue over DRB-Hicom Bhd relinquishing its 51 percent stake in Proton Holdings Bhd to pursue a foreign strategic partnership (FSP).
is one who has a strong sense of what is right or wrong, and who chooses to stand by the right, no matter what the compulsions not to do so. The moment people compromise with morality, they become very, very ordinary for me. Ordinary people will witness an accident or a victim of violence and carry on, allowing themselves a myriad excuses about why they cannot get involved. It is the extraordinary person who will step up and offer help or call up the cops or a helpline and ensure help reaches
An important objective of financial sector reforms is to move Malaysia towards a more rules-based system. In particular, it means that financial sector regulators have to be made more accountable and their actions should not be arbitrary.memoirs of a turbulent stint confirms something that quickly becomes apparent to journalists who cover the beat. Regardless of the party in power, neither finance ministers nor senior bureaucrats in the ministry believe in a rules-based system. There have been exceptions, but generally arbitrariness marks their decisions.to report on their monitoring activities which handicapped their functioning.