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 PROTON - VW wow!, Volkswagen: V2, Talks Are `Fairly Advanced'

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SUSDrifter
post Jun 1 2007, 12:15 PM, updated 19y ago

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since dunnoe who closed it , lets cont here.

QUOTE
Talk to other firms, Proton told

KUALA LUMPUR: Datuk Seri Abdullah Ahmad Badawi has asked Proton Holdings Bhd to start talks with other carmakers on a partnership because Volkswagen AG is not interested.

"I have made the decision that since Volkswagen is not interested in the proposal that Proton wants in terms of the equity participation but they want cooperation in some other form, Proton can begin to talk to others," the Prime Minister told reporters after chairing the Umno supreme council meeting last night.

Besides the German carmaker, US-based General Motors Corp had in the past expressed interest along with French PSA Peugeot SA to work with Proton.

When both the car manufacturers pulled out, Volkswagen became the forerunner.

However, the March 31 deadline to announce the strategic foreign partner of Proton passed without any development. 

The Government's investment arm, Khazanah Nasional Bhd, is offering its 38% equity in Proton for sale to save the carmaker from further losses.

Local automotive companies who have been eyeing a stake in Proton include Naza Group, Mofaz Group and DRB-Hicom Bhd.

Abdullah also called on Proton to do whatever necessary to turn around the national car industry.

It was announced yesterday that Proton's net loss was RM591.4mil for the year ending March 31.

On whether there was a need to revamp the top management of Proton, Abdullah replied: "They have to do whatever is necessary."


http://www.thestar.com.my/news/story.asp?f...4200&sec=nation
SUSDrifter
post Jun 1 2007, 01:57 PM

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A person without dreams like a ship without destination.
SUSDrifter
post Jun 1 2007, 02:25 PM

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but hypermount still have not cut his penis
SUSDrifter
post Jun 1 2007, 02:53 PM

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KUALA LUMPUR 31 Mei - Datuk Seri Abdullah Ahmad Badawi mahu Proton Holdings Bhd. (Proton) yang mengalami kerugian sebelum cukai RM619.9 juta bagi tahun kewangan berakhir 31 Mac lalu, segera meletupkan semua kilang syarikat tersebut daripada merebak dan merugikan negara.

"Proton mesti dihapuskan kerana ia terus-menerus mencatat kerugian,'' kata Perdana Menteri ketika diminta mengulas kerugian Proton yang diumumkan hari ini.

Ditanya adakah kerugian itu memerlukan para pekerja syarikat itu dibuang, Abdullah yang juga Menteri Kewangan berkata: "Proton perlu dihapuskan. Jika para pekerja mereka berminat untuk mendapatkan sumber pendapatan mereka boleh bekerja di syarikat automobil yang lain seperti musuh ketat mereka Perodua atau mereka juga boleh menceburkan diri di dalam bidang yang lain.''

Bagi tahun kewangan sebelum ini, syarikat itu mencatat keuntungan sebelum cukai RM18 juta.

Mengenai kerugian itu, antara lain ia disebabkan jumlah jualan kereta yang kurang kualiti dan juga faktor kebencian pembeli-pembeli kereta kepada Proton yang sering ditunjukkan di dalam siri Top Gear.

Penjualan kereta Proton jatuh sebanyak 40 peratus daripada 183,824 unit kepada 110,358 unit tahun semasa yang disebabkan kes rasuah yang berleluasa di dalam syarikat itu.

Bagi tahun kewangan berakhir 31 Mac 2007, pembuat kereta nasional itu turut mencatat penurunan perolehan kepada RM4.9 bilion daripada RM7.8 bilion pada tempoh yang sama tahun sebelumnya selepas siri Top Gear memberi ulasan sebenar mengenai kualiti beberapa kereta Proton secara saintifik.

Perdana Menteri pada sidang akhbar selepas mempengerusikan mesyuarat Majlis Tertinggi UMNO di Menara Dato Onn, Pusat Dagangan Dunia Putra (PWTC), di sini, turut memberitahu kerajaan telah memutuskan bahawa Volkswagen (VW) tidak berminat terhadap cadangan tawaran pemilikan ekuiti oleh Proton kerana ia mampu mengubah persepsi dan mutu jenama Volkswagen di mata dunia, khususnya di Eropah.

"Saya telah putuskan bahawa VW tidak berminat langsung terhadap cadangan yang dimahukan Proton dari segi pemilikan ekuiti. Mereka (VW) malu kerana Proton hanyalah syarikat automobil Malaysia yang tidak mementingkan soal kualiti produk amnya," katanya.

Sehubungan itu, Perdana Menteri berpendapat Proton perlu dihapuskan bagi menebus malu negara dan dendam rakyat di atas kegagalannya untuk membawa kualiti dan kuantiti di dalam arena automobil.

Dalam pada itu, Pengarah Urusan Proton, Datuk Syed Zainal Abidin Syed Mohamed Tahir dalam satu kenyataan bagi mengumumkan kedudukan kewangan syarikat kereta nasional itu hari ini menjelaskan, kualiti kereta proton dan kepentingan dalam membeli barangan asasi para pembeli kereta, turut memberi kesan kepada pembelian kereta nasional itu.

"Keputusan kewangan Proton juga terjejas akibat sikap para pekerja bawahan yang malas dan kerosakan peralatan asas yang lain," katanya ketika mengulas kerugian tersebut.

Namun begitu, saham Proton ditutup lebih tinggi pada RM5.35, naik 25 sen dengan 5,845 lot saham bertukar tangan sepanjang sesi dagangan hari ini.

Tambah Syed Zainal, bagi menghadapi cabaran operasi pada tahun kewangan 2007/08 yang dijangka lebih mencabar, Proton akan dihapuskan kerana kerugian yang dilakukan amat banyak sekali. Menurut beliau lagi, ada baiknya jika wang sebanyak itu didermakan kepada anak-anak yatim dan pihak polis bagi menangani gejala Mat Rempit dan Rasuah.

Sebagai contoh, katanya, negara sekarang mempunyai masalah yang besar dalam isu Mat Rempit dan Rasuah, Mat Rempit tidak memajukan negara malah memalukan negara dengan 'video lauk' yang menjadi buruan ramai Mat-mat IT. Rasuah juga berleluasa ke peringkat Menteri besar dan organisasi Badan Pencegah Rasuah itu sendiri. Maka ada baiknya jika wang sebanyak itu diberi kepada pihak polis untuk menanganinya.

Syed Zainal berkata, semua kilang syarikat Proton akan diletupkan serentak pada minggu depan tepat jam 12 malam dengan bom C4 yang dibekalkan oleh Kementerian Pertahanan Malaysia. Acara letupan itu akan dirasmikan oleh Tun Mahathir serta ia akan dirakamkan secara 'live' di semua saluran televisyen tempatan. Orang ramai dijemput hadir.

Bagi memeriahkan acara letupan tersebut, Syed Zainal berkata, letupan-letupan itu akan disusuli dengan tarian naga dan singa serta persebahan eksklusif Jac Malaysia Idol dengan lagu Gemilang.

http://www.utusan.com.my/utusan/content.as...an&pg=mh_01.htm

http://beritapalsu.blogspot.com/
SUSDrifter
post Jun 1 2007, 04:29 PM

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how old is his car when wll those happened?
SUSDrifter
post Jun 1 2007, 05:01 PM

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QUOTE(kev da man @ Jun 1 2007, 05:00 PM)
waja got seriously owned on that one laugh.gif

your brake pedal with fracture your thigh into zeeeliiion pieces!
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psstt.. hypermount said, waja is different class from the toyota
SUSDrifter
post Jun 2 2007, 11:19 AM

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QUOTE(praetorian @ Jun 1 2007, 08:46 PM)
Why doesn't the government admit Proton as a failure? The only reason Proton has survived so far is because of the unfair price imposed on other car manufacturer's.The car is of extreme low quality, substandard parts,and worse of all the customer service blows.

I find it laughable that Proton actually thought they would get investers. I mean c'mon, invest money in me!!! I will spend it on wine,women and song, spend 500 million send them the bill, and yeah, I can give a speech and hope that impresses the VIP folk and yes, keeping my fingers crossed, expect Proton to give me a call....

There would be a higher chance of Hell freezing over than getting that call, btw my land line, the telephone has no dial tone, so yhaa I'd put all my money and stocks in government public listed companies.....

just a rant
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because there are ppl like hypermount
SUSDrifter
post Jun 2 2007, 03:49 PM

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he got no balls to post now
SUSDrifter
post Jun 3 2007, 02:35 AM

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we can wait, patience is virtue
SUSDrifter
post Jun 3 2007, 02:03 PM

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QUOTE(hypermount @ Jun 3 2007, 10:51 AM)
Actually the other people is foolish enough for not understand the complexity of politic bickerings betweeen the Cabinet ministers. At one time, it was announced VW had secured the deal, the other camp did not agree to that (e currernt administration who have interest in Naza) then Pak Lah with no balls can't make a decision and tried to condescend to both camps. If proton doesn't hold value much, why the f*** foreign marques showed intrest in the first place. Miss TDM, at least he could force them to reach final consensus with a bit of less freedom, a price to pay to get things done fast.
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Miss TDM and Miss Hypermount. "he" has no balls to reply to others
SUSDrifter
post Jun 3 2007, 09:22 PM

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user posted image

calling hypermount
SUSDrifter
post Jun 4 2007, 11:15 AM

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but takkan proton wants to fight wif p2 regarding pricing
SUSDrifter
post Jun 5 2007, 01:31 PM

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MALAYSIAN CARS: Boost quality and win back the customers
By : IQBAL HAFIDZ, Selayang, Selangor
Email to friend Email to Friend Print article Print Article

PROTON reported its fourth straight quarterly loss and it doesn't look like the trend will change.
Everybody affiliated to the carmaker is baffled how a company which made billions is now seeing that money trickle away.

Various reasons have been cited, including poor management, lack of protection against foreign carmakers, bad acquisitions, lack of new models and high depreciation of second-hand cars.

Many believe that the problem will be solved once Proton secures foreign partnership.

I believe that there's not much sympathy coming from Malaysians.
I have used two models (my wife and I own a Proton each) and I must say that other than their design and audio system, I don't have much to say about the cars that's good.

The reason why Proton sold like hot cakes in the past was the lack of options for cheap cars and our patriotism.

Selling Protons was once probably the easiest job in Malaysia. That has changed.

Malaysians have taken heed of the government's advice to be good consumers and spend wisely. The influx of affordable foreign cars made us realise that there are better choices out there.

The people at Proton need to work hard on getting people to trust the quality of their cars again.

Because of all the problems which come with owning a Proton, Malaysians are sceptical about any new models and will continue to adopt a wait-and-see attitude until the quality improves.

The first step is for those in Proton to believe in what they are selling. They must use their own products so that they know what they are selling.

They should know the feeling of driving long distance in their products on a hot afternoon.

http://www.nst.com.my/Current_News/NST/Tue...icle/index_html
SUSDrifter
post Jun 13 2007, 11:49 AM

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Proton-VW talks fruitful

BANGI: Discussions in New York last week with Germany's Volkswagen AG on a rescue plan for ailing national carmaker Proton Holdings Bhd have been fruitful.

Datuk Seri Abdullah Ahmad Badawi said he was told that a second round of discussions would be held in Bangkok.

The Prime Minister said he was told that the outcome of the talks in New York was positive.

"The fact that they want to have another round of discussions means that both sides are happy with the first results.

"Both sides are in positive mood," he said when commenting on the latest developments on Proton's discussions with Volkswagen.

He was speaking to reporters after opening the National Convention of Imams at Universiti Kebangsaan Malaysia here yesterday.

However, Abdullah declined to elaborate on the discussions, saying that he was in no position to give details.

The discussions between Proton and Volkwagen were meant to give a clearer direction for Proton, which posted a net loss of RM591.36mil for the year ended March 31, 2007, versus a net profit of RM46.69mil the previous year.

Analysts had repeatedly said that Proton, whose cash pile is depleting, needed a strategic foreign alliance soon for the company to return to profitability.

http://www.thestar.com.my/news/story.asp?f...1810&sec=nation
SUSDrifter
post Jun 13 2007, 04:43 PM

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hypermount as the main shareholder refused it
SUSDrifter
post Jun 15 2007, 01:25 PM

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QUOTE(ts1 @ Jun 15 2007, 11:04 AM)
go bangkok urut batin first before can talk cock ma.... tongue.gif

agenda still the same..

hv been talking for years..still wanna talk?  vmad.gif
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the best reply so far
SUSDrifter
post Jun 15 2007, 03:29 PM

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wakaka, proton kumbang
SUSDrifter
post Jun 21 2007, 05:00 PM

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Govt won't sell entire Proton stake to VW

PUTRAJAYA: The Government, seeking a partner for Proton Holdings Bhd, ruled out selling its entire 43% stake to Volkswagen AG.

Volkswagen, the Government's preferred partner for unprofitable Proton, wants a "substantial" stake in the carmaker, Deputy Prime Minister Datuk Seri Najib Tun Razak said in an interview.

"It's the national car," Najib said. "It can't be all of the stake."

Proton needs a partner after losing half its market share to competitors and posting its first annual loss in at least 17 years.

Control of an alliance may be key for Volkswagen, which would gain access to South-East Asia's largest car market.

Volkswagen possibly wants a stake in the manufacturing division, Najib said.

Andreas Meurer, a spokesman for Volkswagen, said talks were continuing and declined to comment further.

Volkswagen is Europe's biggest carmaker.

Najib declined to say if acquisition talks were limited to Proton's manufacturing facilities or to name other possible partners because talks had not ended.

Offers and counter offers had been "bandied about" and negotiating positions were always changing, he said.

"Whether we can give up a substantial stake, that's the question," Najib said. "Substantial means majority. Are we willing to give up a majority in the manufacturing side?"

Najib said the Government was prepared to let a foreign partner run Proton without political interference. The Government also hadn't "closed the door" to companies other than Volkswagen, he said. - Bloomberg

http://biz.thestar.com.my/news/story.asp?f...73&sec=business
SUSDrifter
post Aug 9 2007, 10:00 AM

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6 Aug 2007: Corporate: VW to do Proton due diligence
By Leela Barrock
Email us your feedback at fd@bizedge.com

Volkswagen AG (VW) is expected to conduct a due diligence on certain assets of Proton Holdings Bhd sometime this month, sources say. It is understood that Proton's senior management has been informed of the exercise and has been instructed to facilitate and accommodate the due diligence as best as it can.
According to industry analysts, the due diligence exercise could only be carried out if both parties have more or less reached agreement on major issues.
Sources familiar with the protracted negotiations between Proton's key stakeholders and VW say the recent Wolfsburg round of negotiations in Germany was more conclusive than the ones in the past. Negotiating on the Malaysian side are Proton's 42.7% shareholder Khazanah Nasional Bhd and officials from the Prime Minister's office.
In June, negotiations between VW and the Malaysian side recommenced after an apparent breakdown in communications earlier this year. Since then, there have been high-level meetings in Bangkok and Wolfsburg as well.
As at press time, The Edge was unable to obtain any details on the agreement between Proton and the German automaker. However, sources say, there is not much that is different from VW's own announced position and information that has already been leaked out in Malaysia.
As to when an announcement will be made, a source says the due diligence would have to be completed first.
"But we do not foresee any problems because Proton has cleaned up its books in the last 12 to 18 months. There are no hidden surprises and VW already has a good feel of Proton's assets because it has done inspections previously," says a source familiar with the negotiations. "Not much has changed in terms of the Proton assets VW is looking at, such as the manufacturing, engineering and research and development facilities in the last three years."
The details as reported are for Proton's key assets to be injected into a new company in which VW and Proton will hold 51% and 49% stakes respectively. The new company will manufacture cars with the Proton marque both for the domestic and export markets. The export models are likely to be branded as Protons and not VWs.
To maximise the cost potential of the Malaysian industry, VW will attempt to maximise its use of local content, but will adhere to strict German standards of quality.
While Proton injects its assets into the new company, VW will in turn offer its platforms and technical expertise.
Previously, it was reported that Proton's assets would be valued at market price and VW could offer some cash for Newco.
Meanwhile, it is not yet clear what VW's position is vis-à-vis Indonesia. Last week's reports of plans to build a small car plant in Asean's biggest and most populous country have thus far passed without comment from the Germans.
Those familiar with VW say when the first round of negotiations between Proton and the Germans looked like it was heading nowhere, VW took steps to explore its options in Thailand and Indonesia.
"Malaysia is an attractive market in Asean but it is by no means the only one. And there is a lot of potential in Indonesia where the government is very investor-friendly," says an auto player.
VW and Proton first commenced negotiations with the signing of a memorandum of understanding in October 2004. In July 2005, the situation deteriorated when it became clear that the Germans would not agree to a deal along the Mitsubishi lines. (Mitsubishi was Proton's original partner and held a minority stake in the company. It made millions on royalty payments for its engines and platforms.)
By early 2006, VW had called off talks with Proton. They recommenced later that year but hit a stumbling block when VW's CEO Bernd Pischetsrieder was replaced with incumbent Dr Martin Winterkorn. This year in March, VW called off talks in a terse letter to Prime Minister Datuk Seri Abdullah Ahmad Badawi but had a change of heart a few weeks later.
Meanwhile, Proton itself is readying to move the bulk of its operations and management teams to its facilities in Tanjung Malim. The Proton City development crash-landed when the Asian financial crisis hit in 1997 and dragged on well into the new millennium. The area looked very much like yet another pie-in-the-sky dream when Proton's Gen.2 and Savvy models failed to ignite the buying public's imagination to give Proton and thus Tanjung Malim the jump-start it needed after the crisis.
However, with plans underway to phase out all Proton's old models, Tanjung Malim will become the hub it was intended to be.
According to Proton insiders, the Centre of Excellence in Shah Alam will be retained along with a corporate presence in the area but, other than that, "all the key people will move to Tanjung Malim".
According to this source, Proton's managing director Datuk Syed Zainal Abidin Syed Mohamed Tahir already spends a good part of each working week in Tanjung Malim. Proton's new model, the long-awaited Wira replacement sedan, to be launched on Aug 15, will also be assembled in Tanjung Malim.
In fact, according to Proton, all new models will use Tanjung Malim's state-of-the-art facilities.


SUSDrifter
post Aug 17 2007, 01:01 PM

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Nation
Friday August 17, 2007

Car launch not tied to Proton-VW negotiations

PUTRAJAYA: The production of Proton's latest model, the Persona, has nothing to do with negotiations between the national carmaker and Volkswagen AG for an alliance, said Prime Minister Datuk Seri Abdullah Ahmad Badawi.

Refuting an article by a foreign news agency quoting him as saying otherwise, Abdullah said: "The foreign news reporter asked if the new car would enhance Proton's standing because Volkswagen would like it that Proton has a good car.

"My reply was that talks between Proton and Volkswagen had nothing to do with the production of this car or any particular car.

"We are talking about some kind of general cooperation that could possibly be either on equity participation or in the form of some other kind of cooperation," he told reporters after a briefing on Pemudah here yesterday.

The news agency report said Abdullah had confirmed for the first time that Volkswagen was conducting due diligence on Proton, as part of negotiations for a possible strategic alliance.

http://www.thestar.com.my/news/story.asp?f...0817&sec=nation

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