KL CHRONICLE: PROTON belongs to Syed Mokhtar, not Najib Razak #Negaraku #Malaysia

Friday, May 26, 2017

PROTON belongs to Syed Mokhtar, not Najib Razak #Negaraku #Malaysia

The negative spin on proton sale I think is unwarranted and political. Though proton to me is part of a national legacy and I have personal affinity, there is not much choice that DRB - HICOM has. Note that DRB  - HICOM is owned by Tan Sri Syed Mokhtar Al - Bukhary and not by the government. 

For quite a while, proton was in the hands of a private company (read : Syed Mokhtar). It is no longer in the government's hand (read : Najib Razak). We have lost the stake in it for a while. And it's bleeding the company in billions of Ringgit.

I still think proton has built much capacity and capability in car design, engineering and production, but the fact remains it's suffering from huge losses. From what I surmised, not only many are opposed to government bailing out proton in billions of ringgit, many too are no longer buying proton as we used to and desiring other makes. This is reflected in the sales. This twin whammies among others make it untenable for proton to sustain.

I don't know what Geely has in store, but they have turned around Volvo after their acquisition. Many are not aware of their acquisition and still regard Volvo as a Swedish car. Hopefully proton follows the same footstep.

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