Dr. M: Proton losses a mystery

Dr. M has spoken up again on the issue of his brainchild Proton’s recent two quarterly losses in a row.

“I am surprised that a company which was doing well suddenly reports losses (RM158 million pre-tax loss). It is difficult to believe that it was because they purchased (motorcycle manufacturer) Agusta. If Agusta had debts, then the purchase price would have been lower. Why did Proton buy it for a higher price? There must be a mystery here and we have to get to the bottom of it. But as I have said before, be prepared for more bad news from Proton.”

I’m not sure if Dr. M really knows what goes on in the directors meeting room at Proton, and he himself has said as an Advisor he is usually only consulted after making management decisions and not before. So we don’t really know if his statements carry any weight. Let’s wait and see.

Source: Bernama

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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

  • Twoxer Hayzen on Dec 13, 2005 at 11:16 pm

    Well, I was there at both pressers about the whole Tengku Mahaleel and AP issue.

    Yes he is not consulted in anything strategic. He is there as a figurehead.

    Reminder: Who appointed him as advisor? Even the domestic press learnt about it from the foreign press. Enough said.

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  • when do i get the augusta tuned exhaust? hehe

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  • blackhead on Dec 13, 2005 at 11:38 pm

    "But as I have said before, be prepared for more bad news from Proton.”

    i like this, he just scare proton's share holder away…

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  • Mystery on Dec 13, 2005 at 11:49 pm

    Dr.M sounds like talking to a blank wall. The Proton Team slowly make him irrelevant, make him feel deprived n finally sulking in public. We all understand u Dr.M, no need to fool us again. Let Proton help themselves. Dr. M should relax, go for cuti-cuti Malaysia. Then, he will feel being embraced more by the public just like when he first open Maha Clinic last time. Everybody loves him (not raymond ok!).

    Proton aint a small kiddo anymore.

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  • YAU MOU GAUâ&e on Dec 13, 2005 at 11:55 pm

    I tot auditors oledi reveal everything!!!

    whats there to hide!!!

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  • zongtwi a.k.a. speed on Dec 14, 2005 at 12:43 am

    The main reason Dr. M doesn't know anything is because when TM was on board, TM only gave the good news to him. Any bad detail was kept from Dr. M, leaving TM as a brilliant CEO in the eyes of the exPM. That is why Dr. M has been rooting for TM all this while.

    This I got from an inside source. And it does make sense. That's why he doesn't know about the bad debts MV Agusta has. If I was Dr. M, I'll be harrassing TM for answers and make him pay for the miss-management he's done for Dr. M's beloved brainchild.

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  • Dominic on Dec 14, 2005 at 12:46 am

    do u think auditors could reveal "everything" out??? u might be kidding~

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  • Dominic on Dec 14, 2005 at 12:57 am

    "If I was Dr. M, I’ll be harrassing TM for answers and make him pay for the miss-management he’s done for Dr. M’s beloved brainchild."

    if TM could let the auditor reveal the so called "loss" …then do u think Dr.M could find any reason to ask him pay for tht?? the only step they could take is "U'VE BEEN FIRED"

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  • MyBoy on Dec 14, 2005 at 1:16 am

    Dominic is right.

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  • there all of this minority been share there celebration together other will this a big loss not gone happen. i dont see the big loss is subsidy to our Malaysians people, but only i know we Malaysians only buy expensive n bad quality product like proton, so were all this big loss go . u know i know wa…

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  • gegaoff on Dec 14, 2005 at 5:16 am

    so we can make a conclusion base on what dr M said…

    POTONG itself is a big secret.

    hahhaa…

    cheers…

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  • Do you think he meant what he said? Politicians never reveal what they meant behind their words. Thats why people like us have to decipher them to people like you. HOHOH … .

    Anyway, he said he don't know. Meant he don't know lor, my 3 year old brother also believe him lor. He really don't know.

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  • E-nabill on Dec 14, 2005 at 7:28 am

    the problem is that he n probably his family have stake in proton….n dats the problem…..if ur an advisor u ADVISE how to get out of the problem n get the company profitable again.NOT bashing this n that or saying this or that,he must realize since hes an advisor,he carries the proton name,so he should be responsible for giving a good name for the company,NOT to give doubts on this n that n make investors n shareholders run away since thy wil feel tings r hapening under the table without thm knowing…politicians plz dont get involve in proton,dont ruin it….

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  • lalanuni on Dec 14, 2005 at 7:52 am

    All i can say its…."Brainless!!! PROTON!!"

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  • my_YARIS on Dec 14, 2005 at 4:32 pm

    Dr M seems upset with proton.. or can we say saraf tunjang proton lumpuh, maka tidak berharga nor berguna lagi?

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  • LocTech on Dec 14, 2005 at 5:42 pm

    Proton only mistake – it's made and built with the help of Asian corrupted politics, so… how it goes inside the company itself is based on political decisions and political culture.

    Bad culture.

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  • YAU MOU GAUâ&e on Dec 14, 2005 at 6:55 pm

    Cant wait for more surprise !!!

    This is better than wathching CSI

    go proton!

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  • DeCosby on Dec 14, 2005 at 8:57 pm

    LocTech said,

    December 14, 2005 @ 9:42 am

    Proton only mistake – it’s made and built with the help of Asian corrupted politics, so… how it goes inside the company itself is based on political decisions and political culture.

    Bad culture.

    > I do agree.. above and I can feel like de big influencial ppl has grab wht ever profittable to them, its time to leave & sabotage another. Gee.. another soros story mayb?

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  • Yeah I am at a lost too… how Nissan make a lost and Renault takes over and a Renault guy runs Nissan now or how Mitsu make a lost and Mecedes buys 37% shares but now selling them and how Rover also gone… and GM what is happening to them, and Daihatsu rescued by Toyota and Kia rescured by Hyundai, Daewoo made a lost rescued by GM… a long list of take overs and rescues.

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  • The brainchild says it's a mystery. So is proton. Why so lousy. No quality. Also a mysterykah???

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  • Just sell proton. Malaysian can get good cars because som one up there is trying to show off.hah…Malaysia boleh.Kereta buruk pun okay. What the hack.

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  • Nothing but the trut on Dec 15, 2005 at 12:47 am

    I agree with wan. Do they really care if we are driving below-par "expensive" car with safety feature their least concern. We are debt-ridden in our whole lifetime just to afford a proton car for our family because the public transport sux.

    The other day, i saw the top-ten least safe car in USA from a popular web. They listed Toyota Altis and Kia Optima as such. Imagine, Those are luxury category in malaysia.

    One burning question: Can Proton really survive or even grow and compete with the likes of Toyota, Honda, GM, BMW, Ford in the next 5 years? 20 years? 50years? If Yes, I agree to the sacrifice. If No, they are wasting our money, our life.

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  • [Half-Half PBâ on Dec 15, 2005 at 5:53 am

    Man said,

    December 14, 2005 @ 1:35 pm

    Yeah I am at a lost too… how Nissan make a lost and Renault takes over and a Renault guy runs Nissan now or how Mitsu make a lost and Mecedes buys 37% shares but now selling them and how Rover also gone… and GM what is happening to them, and Daihatsu rescued by Toyota and Kia rescured by Hyundai, Daewoo made a lost rescued by GM… a long list of take overs and rescues.

    =============================================

    kawan, we have to consider this fact:

    they're fighting in an open competitive market when they export their car WITHOUT their own government giving them subsidy and pocket money from their citizen's tax. of course when they incurred loss, it's nothing to raise anybody's eyebrow.

    Proton? they're even making lost in a PROTECTED market plus with available support from the government some more! that's y the Old Man is questioning about it…

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  • wira wan on Dec 15, 2005 at 7:22 am

    Rakyat Malaysia mudah lupa?

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  • Pro-Tun on Dec 15, 2005 at 9:04 am

    Mystery said,

    December 13, 2005 @ 3:49 pm

    Dr.M sounds like talking to a blank wall. The Proton Team slowly make him irrelevant, make him feel deprived n finally sulking in public.

    > Mystery, I believe it's not the Proton Team's doing this. From what I understand, this is a conspiracy of the hungry leechers behind our new head of government working nights and days conducting an orchestrated plots to diminish everything that Tun has developed and inspired, so that eveything will look like a failure, including Proton. It is they're purpose to strip bare every Proton weaknesses. In a way, it is good so that we the rakyat knows what goes on behind the curtain and pro-active measures can be taken to straighten things up. But knowing how the Malaysian people think, they know, the people will condemn blindly and unreasonably until Proton loses it's main objectives and everyone loses Proton for good.

    When we begin to realize what has actually happen…it's a little to late. Remember…"MELAYU MUDAH LUPA".

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  • The old questions it, because he wanted to diverse the problems, he wanted create public out cry for Proton, to stop AP (Since he's monkeys didn't get them) he wanted to affect Inokom and Naza (so that they couldn't get "National Car" status just by rebranding)

    Of course he knew what was going wrong with Proton, and of course he knew what was going on all the while. The reason he said those -dunno- words, is because he knew that most Malaysians are dummys,and these dummys will believe in what he is saying. In the end to achieve his own interest. Speaking of politic talks, try decipher their meaning, don't just dengar dan itu saja.

    Same like Dr.M's previous "Tongkat Speech"; regarding his concern on Malay's economic status, and how the economy is controlled by Chinese even after so many years of effort….. BULL SHIT!! Want me to decipher for you all folks?

    This is a good example of politic talk from Dr.M

    Anyone here still believe Malaysia's economic sector in Chinese's hands? Let me tell you guys, ok maybe on average, chinese had higher per capita income in comparison, but that is also because more chinese were in cities. But the only sectors chinese are contolling are retail sectors, and small manufacturing sectors etc. Malay? Let me tell you guys, out of the whole population of Malay in Malaysia, only roughly 2-5% of Malays are actually controlling the economy, who to get AP, who to get what project and so on, these are mostly people from the government.

    Hence by telling most Malays that the economy is actually still in hands of chinese, not only that the majority of Malays will believe and then strive to succeed, but this also ensures those "the rich and famous" of Malasysia can have all the time they needed to high their operations.

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  • Years ago Renault was rescued by the French Government.

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  • Bobdbilder on Dec 16, 2005 at 2:45 am

    Hell man. The French and Aussies got their agriculture. Americans got their planes, Korea, Japan and now China got their cars. We got ours too! So what's the big deal? Everybody protects their homegrown business. We'd be stupid not to when everybody else does. The whole WTO thing is to make everybody lower the restrictions together. But its a tough job.

    Apparently Bob hasn't been to Sarawak. Not to mention JB, Penang, Kota Kinabalu. His rhetoric centered only on APs. How much does that amount to as a percentage of the GDP?

    Why are we right now emphasizing on Transparency, Accountability and Good Governance? Investors are scared shitless to pour money here. That's not only for the Malay business but the Chinese and Indians too. How many have not heard of Enron or Worldcomm? Many, I guess,by the looks of it. We are turning up a whole heap of shit other than MAS, Proton, PSC. There will be more coming. Its a long and slow painful walk. But its a walk we have to take. But its for the better. Peeps need to know that its just not enough to give your financial reports at the end of each quarter (if they do!). Share prices must be made so hurtful to effect change. Coz change we must. Coz its a universal constant.

    Dr.M just playing at his old media game coz its the only game he knows how to play. He should do the 'scare more investors' dance, leak some e-mails, get whistleblowers or something like that. Seems the advisor needs an advisor. He needs to get up to speed.

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  • In europe they subsidise their agriculture products (crops and livestocks). That is why it is difficult for developing countries to sell their agri products to them especially Africa. On taxes even India tax our oil palm more than soya bean oil. I am sure soya bean crops are subsidised by the developed countries that grow them.

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  • siren on Dec 16, 2005 at 8:01 pm

    Apparently during the press con, one reporter asked what is Tun's comment on the new CEO appointment, does he know about it?

    And then the super smooth Chairman said, "Yes, he is…. Aware of it."

    By not stating anything, meaning he is not in agreement? Or he was not consulted? HAhaha, so obvious. Of course he is aware, it is in all the newspapers…

    It is worrying the new CEO looks really young and…. really young.

    I wonder what the new management will do to Proton. In the time that there is no TM, it looks like all the fat cats inside have taken advantage to spash and use up all the cash reserves for themselves!

    Did anybody realise they have stopped the TUV approval for SAVVY? There is no more TUV sticker on any of the SAVVY already! So they will return to having poor quality control problems again. More costly for the brand in the long run.

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  • [Half-Half PBâ on Dec 16, 2005 at 9:11 pm

    siren… young or old is not a problem… it's the capabilities that we shud see… so, let's sit down and wait lah ya?

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  • keniji on Dec 17, 2005 at 9:45 am

    proton should NOT be around, in the first place.

    dr. M, admit u mistake!

    at the expense of all Malaysians!

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  • Habib on Dec 17, 2005 at 1:30 pm

    How is it possible for RM158 million to a mystery? Pretty obvious some high level official squandered the $158 mil and using mystery as a silly excuse. Only in Malaysia where corruption is comitted in broad daylight and nobodays has the guts to say or do anything. If this was China, the culprit would have been executed by the firing squad, no time for lame excuses. Only Malaysian put up with this kind of bullshit. Malaysian politics is a joke in the eye of foreigners. Ministers behaving like freaking little kids, you guys have to grow up.

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  • [Half-Half PBâ on Dec 18, 2005 at 2:07 am

    Habib… inilah Malaysia kita… tanah tumpahnya darah kita…

    dan kroni-kroni duduk jauh-jauh ketawa terbahak-bahak tengok kita menumpah darah dan mereka takung kemudiannya dijual dpt untung…

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  • Chineseman on Dec 19, 2005 at 2:00 am

    Close down PROTON laaa…..

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  • camry on Dec 19, 2005 at 3:07 am

    tuler….main kotor dlm msian car market……kang dah kena

    hope proton bungkus

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  • Disapointed on Dec 20, 2005 at 5:02 am

    Corruption… is the only reason I can think of.

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