Friday, September 11, 2009

Takeover at Proton?

Updated, Sun 13/9: Someone's back at Proton! I broke fast with Syed Zainal, Proton's Group CEO the same day I did the link to Pasquale's scoop. It was the first time I'd sat down with the Proton boss. He spoke about Dr Mahathir's return - physically - to the Proton headquarters in Shah Alam after more than 4 years! This Syed didn't seem too perturbed with the takeover rumours. "I heard about it quite a while ago," he smiled.

Original post:
Another saga. Pasquale has a posting on a plan by Yasmin Holdings, which is led by one of Proton's pioneer execs Kisai Rahmat, to take over the national car corporation. Sexy, especially when the scheme is said to involve the corporate muscles of local auto giant Naza and the support of Dr Mahathir Mohamad.

The market is also talking about the rekindling of an interest in Proton by billionaire Syed Mokhtar al-Bukhary, who is also known to be close to the Tun.

I'm not repeating what Pasquale says about the "current bunch" running Proton. You'll have to click here to read the full posting.


  1. Anonymous6:20 pm

    There's not much that Pak Lah did right when he was PM, but overhauling the managements of Proton and MAS must certainly count among them.

    Proton is in much better shape now than when it was being run by the 2 TMs. They have stopped losing market share, started making profits and are even building cars that people actually want to buy.

    I think this move is really not about what's good for Proton, but more about one man's pride and maybe a little revenge.


  2. Anonymous7:03 pm

    Proton is halal, how about st miguel?

    MANILA (Dow Jones)--Mirzan Mahathir, the eldest son of former Malaysian Prime Minister Mahathir Mohamad, has been elected to the board of San Miguel Corp.( SMCB.PH ), the Philippines' largest food and beverage conglomerate. The conglomerate, which is now diversifying into other industries, told the stock exchange Thursday that Mahathir was elected along with local businessmen Roberto Ongpin and Alexander Poblador to represent Q-Tech Alliance Holdings Inc. on San Miguel's board.

    Q-Tech, an investment company, acquired a 19.9% stake in San Miguel from Kirin Holdings Co. Ltd. ( 2503.TO ). Japan-based Kirin earlier this year sold its stake in San Miguel to partially pay for shares of San Miguel Brewery Inc.( SMB.PH ) that it bought.

    SMB handles the local brewery operations of the Philippine conglomerate.

    -By Cris Larano, Dow Jones Newswires; 632-848-5051;

    Is beer business haram?
    Click here to go to Dow Jones NewsPlus, a web front page of today's most
    important business and market news, analysis and commentary:

    by GUZZLER

  3. Rocky

    I hope you will read this:

  4. Anonymous8:48 pm

    proton before you sell the company,can give me some discount to buy proton exora???i just want to buy exora and i dont give a fcuk about the company....

    happy malaysian says

  5. Anonymous10:25 pm

    Proton mgmnt run by a bunch of hypocrites? hahaha what a joke because it was worst when under TM. BTW one of the new GM is a well known Pak Lah gang. Who is he?? ask ppl at Proton who is going to perform Umrah at the same time with DSZ next week and a former EON strongman.

    Potong Sawi

  6. Asal jangan 'potong saga' sudah..

  7. Anonymous12:02 am

    Who's Kisai.
    Never heard of him.
    Just a rumour Rocky.
    Move on people!!


  8. Mazlan12:10 am

    Hmmm.... sounds odd to me.
    After 20 years of protection and barriers from competition Proton is still uncompoteitve and and unable to gain any traction in the export market.
    Reason is simple: the cars are of poor quality and poor design.
    Also the auto industry globally is consolidating with even companies like GM restructuring.
    The Japanese, Korean and US companies are also developing hybrid engines and new technologies.
    Proton needs a solid international partner that can improve their design and quality - and then maybe Proton has a future.
    I can't see how this new bunch who only seem to have strong political connections can make the difference?

  9. Anonymous12:42 am


    dari malaysian insider

    Since then, Malaysians say that PR's biggest strength is that it fights for democratic reforms (31 per cent), fights for transparency and is against corruption (29 per cent) and advocates fairness for all races ( 27per cent).

    This finding is not surprising given that the Opposition have been calling for the rehabilitation of Malaysia's institutions, especially the judiciary and the police.

    Pakatan Rakyat has also been at the forefront of the movement to abolish the Internal Security Act and a slew of other regressive legislation.

    Broken down according to race, 65 per cent of those who think that PR's biggest strength is racial fairness are Malays, 24 per cent Chinese and 11 per cent Indians.

    Some 59 per cent of those who felt that PR's main selling point was fight against transparency are Malays, 32 per cent Chinese and 9 per cent Indians.

    About 63 per cent of those who believe that PR stands for democratic reforms are Malays, 26 per cent Chinese and 11 per cent Indians.


  10. Anonymous1:17 am


    Kalau sesuatu benda itu ada kaitan dengan pihak establishment akan ada pembangkang yang boikot!

    Proton telah di kritik hebat bukan saja sekarang ini malah ketika mula di tubuhkan.

    Proton bukan saja tidak diberikan sambutan sepatutnya dari kalangan Melayu dan bukan Melayu dari pembangkang sekarang ini tetapi telah lama dulu.

    Lihat saja atas jalan raya; berapa kerat sangat bukan Melayu pembangkang (DAP, PKR dan Pas) yang memandu kereta proton? Kenapa?

    Kurangnya semangat patriotisme menyebabkan banyak produk tempatan tidak mendapat sambutan.

    Semangat patriotisme telah pelan-pelan di musnahkan oleh parti politik pembangkang yang mengamalkan semangat assobiyah yang tebal.

    Sesuatu produk perniagaan sepatutnya tidak dilihat dari sudut kaum, agama dan politik partisan.

    Apa yang berlaku adalah sebaliknya. Sekiranya ini menjadi satu budaya, kalau PR sekalipun yang pegang Proton, boikot memboikot akan terus berlaku.

    Kini PR sedang merasai betapa sukarnya memerintah kalau rakyat tidak memberikan sokongan tidak berbelah bahagi kepada mereka.

    Tidak ada siapa yang perlu disalahkan apabila perkara yang PR praktikkan selama ini terkena batang hidung sendiri.

    Lagipun PR hanya boleh menuai hasil yang mereka sendiri tanam dan bajai. Ia satu pengajaran yang berguna.


  11. haha..ini berita bagus lagi baugs liberal sama share holder satu proton haha

  12. Anonymous2:22 am

    i have not a grain of sympathy for a company that demonstrates absolutely no professionalism and courtesy towards others.

    i say go, and if and when the buyout goes through, kick the deadbeats and kaki kipas out.

    best news i've heard yet.

  13. Anonymous2:24 am

    go naza.
    your late father would have been proud of you guys.

  14. Anonymous2:33 am

    khazanah's disposal of its shareholding will be rid proton of the image of it being such a burden to the government.

    it will be privately funded and run as a proper business, therefore the very least eliminating a lot of criticisms by the rakyat. and hopefully, things will really start to move at pace.

  15. CommonerNinetyNine3:08 am

    dear mr rocky bru,

    sorry for the irrelevant post to this title.

    could you please consider writing something about the rhetoric organisation named suhakam? hard to swallow what the star newspaper has been covering about them for the past 2 days.

    i just wish they can describe their version of human rights interpretations clearly before using that favourite 'human rights' label to 'shoot' anything they feel like it.

    i just don't understand that if malaysia is like some sort of 'hell' as they suggested, then why are they still able to 'bark' around freely? aren't they supposed to be 'buried alive' long time ago?

    i don't know how to say, just wish i have your writing and investigative skills to cover something about that suhakam stuff.

    no matter what, thank you very much.

  16. Anonymous6:24 am


    Orang lain berniaga juga dan mereka berjaya tanpa perlu bergantung banyak dengan saluran dan pertimbangan politik.

    Orang kita ada banyak peluang tetapi terlalu menggunakan pendekatan politik dalam membuat keputusan yang berkaitan dengan perniagaan.

    Sepatutnya perlu ada nisbah yang wajar antara pengaruh politik dan perimbangan profesional. Kalau nisbah lama diulangi makanya kita tidak pernah belajar daripada kesilapan.

    Dan (berdasarkan catatan sejarah), mereka yang tidak belajar daripada kesilapan, cenderung mengulanginya sekali lagi.

    Dua Sen

  17. Anonymous7:26 am

    Some idiot will continue be an idiot!!

    The topic is about want to support or bash....the topic :Proton!!!

    not about PKR.....!!San Miguel or anything else..

    wake up and please be an adult!!..
    if you just want to show you support for PAS PIS POS, DAPigs or PKR...go to other topic or forum..Tkote..,MI, MKini, Mtoday..go there...

    you like me to call you an idiot? if the answer is no..please stick to the topic..

    no wonder you cannot differentiate the truth and the lies..


  18. Proton = overcharging rakyat for over 20 years :)

  19. Anonymous10:46 am

    Nor Mohd Yakob told Syed Mokthar not to allow DRB to talk to Volkswagen, as he wants Volkswagen to tie up with Proton.
    Therefore it would be stabbing Syed Mokthar in the back if Naza is allowed to take over Proton.
    Furthermore DRB Hicom is already the distributor of Audi

    Minah Ronggeng.

  20. Anonymous11:03 am

    Jika Kerajaan menjual saham Proton kepada syarikat Naza, keputusan itu boleh membawa padah kepada Kerajaan Barisan Nasional, dan juga kedudukan Datuk Seri Najib sendiri.
    Kini kilang Proton terletak di Selangor(PKR) dan Perak (Kemunginan besar PKR), manakala kilang perusahaan Naza pulak terletak di Gurun -Kedah (PKR).
    Tiga negeri tersebut adalah kubu kuat parti pembangkang, yakni PKR.
    Seperkara lagi, jika DRB dianaktirikan dalam menguasai pengurusan Proton, perbuatan itu boleh diumpamakan sebagai ludah ke langit, jatuh ke muka sendiri.
    Ini adalah kerana, lebih kurang 50 peratus tenaga pekerja di Pahang bekerja untuk DRB atau anak syarikat DRB. Di Pekan pulak, lebih kurang 70 peratus tenaga pekerja digajikan oleh DRB atau anak syarikatnya.
    DRB memang dari dulu lagi memantapkan kawasan Pekan - kubu Dato Najib dan Barisan Nasional. Kini Dato Najib dah menjadi Perdana Menteri, dan harapan kami rakyat Pekan, beliau akan membuat keputusan yang bijak bagi masa hadapan masyarakat di Pekan, yang sememangnya selalu menyokong BN kerana dato seri dan mendiang ayahanda beliau.
    Kami Rakyat Pekan.

  21. Anonymous11:04 am

    Naza tu pencuri... tolong jangan jual Proton pada depa.

    SM Farooq

  22. Anonymous11:06 am

    DRB controls the distribution network of Proton so, whats the logic selling Proton to Naza? Naza was built on APs and now that AP rules might be tightend, NAZA wants another free ride.... if the government must sell it , then sell it to DRB or VW, better still.

    Syarikat Nazi.

  23. Anonymous11:22 am

    1)Did you know that Dato Hanif still owns most of the AP for the chevy cars that are brought in to Malaysia NOW. The cars are brought in from CINA and not direct for the US.
    Why has the public been misled that the AP kings days were over and that DRB got all the APs to bring in the chevy cars????

    2) Did you know that Hanif is a relative of KJ???. KJ is close to Anwar Ibrahim. Out of the blue, PKR are not very gung ho in fighting at the by election in Negeri Sembilan, the home state of KJ.

    3) Did you know that Permaju Bhd, which is tipped to takeover the GM franchise here in Malaysia is a big funder of Anwar Ibrahim. Former commercial crime director Datuk Ramli Yusuff owns Permaju shares, and he got nothing bad to say about Anwar Ibrahim.

    4)Naza cannot be trusted. When Bodowi was the PM, they dumped Tun Mahathir and got in bed with Kalimullah.
    Kali was also handling the PR for NAZA in order to take control of DRB Hicom.

    5) Did you know that Naza is being sued in Singapore and have an on going police case in the UK for smuggling and under declaration?

    Conclusion : best dont sell it to Naza lah.
    Mat Kerbau.

  24. Anonymous12:40 pm

    Harap Proton dapat tukar logo proton Tundercats tu. Tak nampak commercial langsung.


  25. Anonymous1:47 pm

    Tahun ni, Naza bagi tak duit raya masa malam buka puasa... dulu bagi RM1000 pada wartawan, lepas tu pulak, kurangkan kepada RM500- RM300 seorang, sebab sambutan hangat sangat. Itukan cara Naza... jijikle kalau Naza dapat Proton... memang nak muak.

    SM Toyol

  26. Bro

    Once again Proton has released it's quarterly results showing unaudited PAT of $64 million without clearly explaining what its OPERATING profit/loss is. Dr.M, without looking at it carefully, praised it.

    In previous years operating profits have included huge Govt R&D grants of several hundred millions. Without these grants for cash flow, Proton may have completely sunk! In it's last AR Proton indicated it may receive some $80 million grants this year.

    Ultimately, Proton is in the biz of making and selling cars, not receiving Govt grants, in the same way that MAS is in the biz of flying people and not making profits from fuel oil hedging!!

    We are all of 1 racem the Human Race

  27. Salam,
    please do not 'politicise' Proton... The whole Proton (including Lotus) is doing fine right now, while under T Mahalel, Proton has a great pipeline of model but in the end those are only able to cater the petrolhead and luxury not so much for the common ppl. And sadly, those pipeline turn to be just a pipedream(what's up with the 100k Proton Supercar).
    Under DSZ, he does cater for the mass market and he really onto the current global situation of petrol economic car thus using 1.6l engine to power a big MPV.Turbocharging 1.6l in 2010. Global standard for now. He has a great model lineup that cater for mass market and hopefully we would be seeing Proton EV or atleast hybrid in near future. Quality and export has been in the up trend.

    so please leave Proton alone, Naza should focus more on their Peugeot,Kia line up, be proud of AutoItalia and start doing property construction now.

    Hoping DRB could take over Proton, start manufacturing of VW. And lastly, VW is now looking to do global part-sourcing based in Malaysia. Hope the company dealing with VW could give the same quality to Proton too. win-win.

  28. Anonymous3:20 pm

    Kisai tu executive director kat yasmin holdings... Pemilik Yasmin holdings tu, bau bacang Tun. Anak syarikat Jurumuda merupakan orang tengah di dalam penjualan kereta-kereta keluaran proton, dan merupakan salah satu sebab Proton bermasalah. Jurumuda dimiliki oleh Yasmin Holdings. Anak bos Yasmin Holding ni kaki perempuan .... Dan si Kisai tu pengarah eksekutif kat Jurumuda, semasa beliau masih lagi bekerjaa dengan Proton.
    Memang Kisai tu hebat... hebat "POTONG" proton.
    SM Rafidah

  29. Anonymous4:50 pm

    Yasmin Holdings survives on "protected" govt business. For 15 years they have been a Proton subcontractor. They have the contract to rustproof all Proton cars. Those of you who have faced the 'exploding pimples' problem on your Proton car and the rust beneath the exploded pimple will know their quality. They also supply fingerprint equipment and software to the Police. Very big contract. They sell Petronas Dagangan products (engine oil) and also do pipeline work for Petronas. They have been succesful in a protected environment. If they take over Proton, will they give up the protected environment? Be prepared to pay.

  30. Anonymous5:01 pm

    ala , apa susah , gen2 modify sport sikit , tampal depan logo LOTUS kan dah alang alang kita yg punya brand , peh ramai beli nanti , export la kat negara developing mesti laku . Kereta James Bond tuuu.
    Tgk apa Nanjing Motor buat , kalau dia buat camne cantik punya design ferrari pun sapa nk beli kalau nama dia Nanjing , solution , dia beli je MG Motor . Kena pulak skrg brand seeker bodoh macam typical Asian terus beli , sbb alaa UK brand brand . Tak caya ? gi China tgk berapa laku MG ( sebenarnya nanjing ) .
    Kalau kat sini pun , Chevy ... alah bukan chevy pun .. DAEWOO.cOMPANY KERETA YANG DAH NAK MATI KAT KOREA.Letak nama US terus hidup balik .
    About time Proton exploit ... oh sorry utilize nama LOTUS.yang ko gi takat letak powered by Lotus je mana cukup.Turst me , Asian market are full of idiots brand seeker , kalau tak apasal hari raya masih cari Levis RM300-400 walau dah terang terang made in China at the cost of RM25.00.Kualiti ? cam haram juga yang beratus tu.

    Dah Panas

  31. Anonymous6:06 pm

    Anonymous san miguel said...

    "Proton = overcharging rakyat for over 20 years :)"


    Sure you know that the major share holder of proton is the Malaysian Govt. What is that mean? Yes, if proton make profits everyone here would also get a sort of indirect benefit from it, unless you are a foreigner. Are you?

  32. Anonymous6:27 pm


    All the companies you mention whether failed miserably in the past or at present and still is struggling looking for the best business model.

    So, why should Proton follow the footsteps of those companies. Make no sense to me. Instead, why not Proton just take some lessons from car manufacturer in country likes Eastern Europe and India?

    Dua Sen

  33. Anonymous1:45 am

    Sell to the Chinese or Indian businessmen...the Malays won't complain!


  34. Anonymous2:04 am

    i like how the star suddenly reported that proton was now in talks with another partner to form a strategic alliance. wah, like so terror all of a sudden. all this while they have only been good at that - talking...nothing ever materialised.

    seems to me more like panas bontot nampaknya apabila terkeluar cerita proton under threat of a takeover. ha ha ha...

    padan muka kau orang. sombong dan angkuh sangat, terutamanya sesetengah management kat proton tu. hope the takeover materialises and puts these buggers in their rightful place.

  35. Anonymous2:28 am

    Enough is enough.. No more daylight robbery allowed!
    Unless it's flip-flop govt at work!!!
    From : Mat Proton & Exora Owner!

  36. PROTON -- the brand name i never wist to associate. I bought Persona recently. Aiseyman, guna 2 minggu, engine sudah ada bunyi yg tak nyaman. Wish i never bought persona at the first place. Do whatever you want to Proton, i don't care. It does not have to do with nationalistic. it is pure business. Just like Mirzan and San Miguel. Haram or not, duit mesti dicari utk hidup. Damn to God.

  37. Dina Zaman1:06 pm

    This blogger has a scoop on Malays joining DAP in fairly large numbers in Selangor. Check it out here.

  38. Anonymous8:24 pm

    anonymous said: "i like how the star suddenly reported that proton was now in talks with another partner to form a strategic alliance. wah, like so terror all of a sudden. all this while they have only been good at that - talking...nothing ever materialised."

    true...all purely talk. this excuse has been used one too many times - dah basi dah. got another excuse eh proton, something we've all not heard before?

    what happened to the china project to rebadge the gen2?
    indonesia sales ada bagus ke?
    why so quiet in thailand and australia these days?
    iran amacam?

    best to offload proton to another party - local or foreign - who is keen to do real business and profit driven. at the current status, profit or otherwise, the top management still get paid their big bucks, bonuses and ex-gratia payments, etc.

    too many little kingdoms in proton built throughout the 20 over years.

  39. Anonymous11:18 pm

    Dina Zaman,

    Orang kita, sedar atau tidak, adalah semakin ramai yang buta sejarah. Dulupun semasa komunis mengambil alih pemerintahan daripada raja Rusai, alasan sama yang diberikan oleh DAPussy juga diberikan bagi menghalalkan rampasan kuasa di Rusai.

    Setelah komusin berkuasa beberapa dekad, akhirnya apa yang rakyat Rusai dapat? Ya, mereka terpaksa diperkulikan oleh komusinme dan dipaksa berperang dan berperang. Di Afghanistan mereka dimalukan dan akhirnya ekonomi mereka jatuh merudum angkara tamak dan haloba iaitu yang merupakan ciri-ciri yang terkandung dalam sistem komusinme itu sendiri!

    Akhirnya blok komusin pecah berderai bersama dengan tembok Berlin lalu menyembah bumi. Sejarah serupa bakal berulang (apatah lagi dengan ideologi ciptaan DAPussy yang semestinyalah dipenuhi oleh elemen kelemahan dan kejelikan). Tidak kira di mana dan siapa kelompok manusia yang terlibat, manusia akan dimusnahkan oleh sistem yang mereka bina sendiri dan hanya pemerintahan yang bertunjangkan Islam yang akan kekal membawa kebaikan bagi manusia sejagat!!

    Adalah menghairankan kenapa segelintir Banjar ini hanya nampak ideologi luaran DAPussy dan bukannya ideologi yang berteraskan Islam? Apa kurangnya perjuangan parti islam di mata mereka? Tidak lebih baikkah Pas? Apa maknanya kalau mengamalkan liberalisme/sekularisme total tanpa berpaut kepada tali agama?

    Dalam konteks tempatan, realitinya, parti-parti Barisan Kebangsaan dapat bertahan di persada kuasa selama 1/2 abad kerana mereka tidak langsung meninggalkan ciri-ciri penting sistem pemerintahan Islam (meskipun tidak sepenuhnya kerana kekangan yang semua sedi maklum). Kalaulah mereka (Barisan Kebangsaan) mengambil keseluruhannya, alamatnya PR akan selamanya duduk di kerusi pembangkang. Bawak mengucap, bro.

    Pious Chinglot

  40. Anonymous11:46 pm

    Anonymous said...

    "Yasmin Holdings survives on "protected" govt business. For 15 years they have been a Proton subcontractor"

    Not only proton vendors survived because there are policies that gave them a bit of priority in the decision making as compared to others but other types of business also enjoy that sort of protective elements as well (such as batik, budu, housing, sugar and flour business).

    Same thing happens in the developed nations and regardless of which party heading them, a kind of prioritization and protectionism are being in practice and are very much accepted as a norm. Don't be fooled with what you referred as idealism. Bet you, that you will see more prioritization and protectionism even if any govt changed hand.

    Nasi Lemak Seller

  41. I think what is best for Proton should be what is best for the Malaysian public who really actually wants to buy a car which is of high quality at affordable price.

    I think the Government should Sell 51% of Proton shares to VW if they can promise to help Proton to produce affordable cars of export quality for the Malaysian market without having the protection of the APs, tariffs etc. Maybe some German technological efficiency and first class quality management will teach our brothers in Proton a thing or two about selling good quality cars at affordable price.

    Selling to Hicom or Naza would not bring much added value, just making some people rich, with Proton cars remaining pretty much the way it is.

  42. Anonymous9:56 am

    jangan bagi anak saya pegang Proton


  43. Anonymous1:27 pm

    Syed Zainal, kaki ampu.. sat lagi depa nak kena tendang dari Proton. Maklumlah, AMokh, tak suka sama depa.
    SM Nadeiaa

  44. Anonymous1:35 pm

    The Naza bhoys are looking to use Kumpulan Jetson Bhd, to takeover Proton. The sameway DRB Hicom-Proton deal engineered by Tan Sri Yahya. BTW, we are very curious on why the Securities Commission has yet to investigate JETSON for stock manipulation. Reasons for such an investigation are as follows :
    1) Why Did the Naza Bhoys make an offer to take Jetson private, when it only bought 50 per cent of Dato Teh's shareholding. Why didn't Naza Bhoys buy the whole amount from Dato Teh at 70 sen?
    2)Naza Bhoys is now offering RM1 for the remaining shares in Jetson, up from the earler 70 sen a share offer, yet the shares are going up. Is the offer just a gimmick to push the share prices up, and make a tidy profit from the stock market?
    3)Why hasnt the SC quried KUMPULAN JETSON BHD, on its share price movement?
    4)Why are the JETSON directors buying Jetson shares in the open market, when the offer is only RM1, or about 50 per cent lower than its traded price of RM1.50. Do they know something we dont???

    SC, Bursa... dont be like YUSLI...USE LESS.
    SM KIA

  45. Anonymous1:49 pm

    Semua wartawan, tolong hadir ke malam buka puasa Naza. Ganjaran RM300-RM500 menanti anda. Dan jika anda, berpangkat tinggi, sebutir Pen Mount Blanc akan dihadiahkan kepada anda.
    SM Gunasegeran

  46. Anonymous11:54 pm

    SM Gunasegaran,

    Don't forget to invite the reporters from the online news media especially RPK. Will you?

  47. U know me6:17 am


    One of your commentor is really unhappy with Naza and by the sound of it I think he is a reporter. Or someone who has been grounded or told to do subbing. A rogue journalist, undoubtedly. There are many in the industry, old and new media alike. We need to flush them out, boss. I think I know who this particular one is.

    Rgds, and Selamat Hari Raya.

    You know who I am.