Saturday, 12 September 2009

PROTON TAKE-OVER ATTEMPT..... again?

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Proton for sale!! ....is an old news that was even capitalise by the opposition during the last general election. Everybody seems so eager to sell Proton and the public too seems receptive to the idea.

Thusfar, we have heard international automotive giant volkswagen, Mitsubishi amongst others whom are keen to buy Proton. Locally, the Al Bukhary Group, NAZA group are amongst the never ending giant that has been attempting to buy over Proton.

Yesterday, there was another Saga unfolded by Pasquale... another attempt or re-attempt to take-over Proton....... again.. by 2 giants. A collaboration by Yasmin Holdings and Naza Holdings led by Proton pioneer Dato Kisai Rahmat and an attempt or re-attemp rather by The Al Bukhary group to buy majorityProton shares from Khazanah.

According to the source, Dato Kisai is said to have obtained 'blessing' from Tun Mahathir whom was quoted as unhappy with how the automotive giant is being managed. This I can confirmed to be UNTRUE. A reliable source told me Tun Mahathir had diplomatically rejected both attempt; Kisai & Al Bukhary.

"The take-over is an attempt to salvage the good name of Proton and to revive Proton from the current management said to be a bunch of hypocrites with no balls." see: pasquale and rocky's bru for further details.

Since Tengku Mahaleel's tenure as the Proton Managing Director... Dato Syed Zainal Abidin's authority as the Managing Director vested by the Board was drastically reduced.. to a point of being 'power-less' with most decision to be made by the Board. Perhaps if Dato Syed Zainal is empowered with more authority, then the 'hypocrite with no balls' statement is applicable. Nonetheless, problems faced by Proton management now is not created by the current management but it was an inherited legacy.. the left-over from Proton's previous management when Dato Kisai too was a Director.

Since his appointment, Dato Syed Zainal & his team had successfully sold the close to 50,000 Proton ex-stocks that was the most critical problem faced by Proton then. The new management had also successfully improved the quality of cars... we seldom hear anymore complains on defective parts, component or even poor quality. The sales demographic ratio from previously malay dominated, now comprise of a good mixture of malay and chinese car buyers... to say the least.

If Proton is as bad as the ugly picture painted.. then why would there be so many interested buyers of Proton? for national service and the good name of Malaysia? ..... I dont think so..!!

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