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.