Mahaleel Down, Proton Shares Up

Posted in Local News / By /

Proton shares jumped 11 per cent to a high of RM9.35 but later eased to close at RM9.15, an 8.3 per cent gain for the day after it’s board announced it’s on the lookout for a new CEO after the non-renewal of it’s current CEO Tengku Mahaleel Ariff’s contract.

Trading was heavy, with 12.4 million Proton shares changing hands, more than 10 times the normal 1.1 million shares traded the day before.

Investment firms raised their recommendations on Proton shares as it is believed the removal of Tengku Mahaleel will pave way for a successful tie-up with Volkswagen AG, including the German automobile manufacturer taking up a stake in Proton.

Looking to sell your car? Sell it with Carro.

Certified Pre-Owned - 1 Year Warranty

PROTON PERSONA
PROTON PERSONA
PROTON EXORA
PROTON X70
PROTON PERSONA
PROTON SAGA
PROTON SAGA
PROTON X50
PROTON SAGA

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Paul Tan

After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history.

 

Comments

  • kh on Jul 27, 2005 at 8:02 pm

    proton is undervalued all this while, l think some other positive news on it might boost its price further

    Like or Dislike: Thumb up 0 Thumb down 0
    Reply
  • 8555 on Jul 28, 2005 at 1:48 am

    finally, got rid of the bottleneck.

    Like or Dislike: Thumb up 0 Thumb down 0
    Reply
 

Add a comment

required

required