9 June 2007: "The attempt to kill Proton has succeeded".
Dr Mahathir Mohamad, who helped gave birth to Proton, said yesterday we are witnessing the killing of a national industry. The new management that took over after the sacking of Tengku Mahaleel by the Abdullah Administration has done everything to commit the murder and they will succeed, he said.
Read Saodah Elias' Mereka Berjaya Bunuh Proton.
Final update, 10pm
"... only rumour without substance". Proton shares rose by as much as 21 per cent today, closing 10 per cent up at the end of the day. By then, VW has described the Edge Financial Daily's report as "definitely wrong and only rumour without substance" [although he added that "We will have a round of talks soon"].
So VW has denied the report. Proton has denied the report. And Sime Darby has denied the report. Only Khazanah's Ahmad Shahizam Shariff did not answer his mobile phone. See Bloomberg's report here.
Sime Darby has denied taking up a stake in Proton but share prices of the (still) national carmaker surged till the end of trading on news that VW will take up 51 per cent in a new company that will hold Proton's assets, R & D facility, and the priced Lotus.
Bernama has the story here.
And the winner is ... VW and Sime Darby will figure in Khazanah Nasional's desperate attempt to save the dying national carmaker that it was entrusted to "save" from the previous administration which, with the benefit of hindsight, wasn't doing too badly at all!
The Khazanah No 2 man has been in New York the whole of this week to tie up loose ends. An agreement is to be signed today [here].
And the loser is ...
Thursday, June 07, 2007
Selling off Proton in New York
TTDI, 29 Nov: They are cutting the trees again in Taman Tun Dr Ismail, once one of the greenest housing estates in KL. Well, it probably ...
Amirudin is trying to silence (me) with the lawsuits - Razak Ismail, Green Party sec-gen Damansara, 30 July: I don’t quite understand why...
Wed, 5 April: Some Malaysians don’t think much of memoranda of understanding and that’s quite, er, understandable. For there was a time whe...