KUALA LUMPUR, Nov 21 (Bernama) -- Share prices of Proton Holdings hit a seven-year low at RM4.06 Wednesday since 2000 following the government's announcement yesterday that the national carmaker will operate on its own, without a foreign partner.
At 4 pm, Proton declined 17.81 percent or 88 sen to RM4.06 after opening 24 sen lower at RM4.70 from yesterday's closing of RM4.94. Second Finance Minister Tan Sri Nor Mohamed Yakcop yesterday said the turnaround seen at Proton in recent months was real and therefore, earlier assumptions that Proton needed a foreign partner to stay afloat were no longer applicable.
So after all this while, we've decided to ditch VW and GM because (according to Khazanah), Proton's sales and exports have improved.
Hard to believe.
Harder to believe is some people's theory that VW and GM were not convinced about Proton's "Islamic car" plans, which would involve partners in Iran and Turkey. Read here.
What is a halal car, anyway?