The Edge Weekly reports that the latest company to express interest in buying Proton shares is the Mofaz Group, a company that sells imported cars in Malaysia.
In other news, investors are still skeptical about Proton’s ability to turn around. HLG Research maintains it’s sell position on Proton shares, saying it needs foreign participation to compete globally.
Nevertheless, Proton sales in foreign markets such as UK have been slowly but surely improving, with sales in September 2006 for the Uk market doubling despite car registrations dropping by 3.5%. The Proton Satria Neo will be launched in the UK market early next year.
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Good ! Maybe we can see some super cars in the Proton lineup.
Don't care who owning them and buy they're share right now. Just give malaysian a good quality, design and reliable car.
Huh??… can't imagine a Cobra to swallow an Anaconda!!
MOFAZ is small and I dont think they will be to impose any influence either on the economy side or the manufacturing side. I just hoping MOFAZ just be carefull – just take off when the shit is bigger and unbearable anymore.
This bring Petronas back in picture. Why dont Petronas buy shares/ control Proton like it used to be? Then here comes the ultimate archilles heel of Malaysia development – politics.
Get rid of those xxxxx politics and give us an afforable sportscar!
wonder how the KOREAN succed?
We all know Proton is in financial trouble. Their cars are stockpiling and the sales are down.
Could this be a request from the govt. to help keep them afloat? Or, Mofaz is buying their shares now because it's low. They know that sooner or later, they will rebound with new products or with a partnership that will bring about rewards later. After all, they can't possibly sink any lower, can they?
this topic will hot!!!
So much news leaking out – talking to GM, to Ford, to VW, to xxx, to xxx and now to Mofaz. How lah like this? Proton image down, talking to every tom, dick and harry. Not good for image, they look like in a weak position, with hat in hand. Better if they discuss back door otherwise HHTA only.
At this point of time i think merely being interested is not sufficient at all. They really need to seal a deal to see them through the next decade. Should Proton actually collapse, the economy of Malaysia would be effected as a whole. Very bad news. We are just petrolhead that would argue till the cows come home on how bad/good a car can be, politics is one thing we would rather not think of. Unfortunately, politics and proton go hand in hand.
I agree with Hikaru.
If Proton collapsed, the whole supply chain(vendor & vendor's vendor and so on) will also affected. The economic impact to Bolehland will be huge.
Can you imagine how many workers work in P1 ? (2,000 workers?)
Can you imagine how many workers these P1 vendor has ? (20,000 workers?)
If oneday, all these worker is jobless, their spending power will reduce drastically. Even mamak stall would be affected. This effect would snowball resulting our economy fall downs.
Though P1 didn't earn much foreign exchange from export, P1 still provide employment and business opportunaties to vendor.
The only thing that i hope is P1 to improve quality.
mofaz sounds like some boy bands.. =/
Hikara and Transformer,
If p1 collapses, the economy will not suffer but will benefit from it. I won’t delve into this now. Let’s discuss its impact to P1’s workers and vendors and even the entire supply chain.
P1’s workers – with their skills, they will be able to find jobs in other car manufacturers, unless they don’t have the required skill set, if that is the case, they should be jobless for they have been sleeping in their job all this while.
The whole supply chain – they can supply parts to other car manufacturers not only P1, in fact, those good ones have diversified their customer base so not to relying solely on P1 for business. Those that are not able to meet the industry’s standards should be out of the business.
People like you and me excluding those super rich – with P1 gone, most likely its incestuous nap will also be abolished, paving the way for Bolehland to become an automotive hub because the playing field will be leveled, many foreign car manufacturers will be setting up their base here and compete with each other fiercely.
The repercussion will be tremendous, imagine camry 2.4, accord 2.4 are now selling for 100k, need I say more? With car less expensive, the disposable income will increase so is the spending power.
You will have quality cars selling at reasonable prices, that’s intangible economic benefits, imagine the feel good factor, the comfy, that can’t be measured in terms of money.
With many car manufacturers setting up their production plants here, there will be job as well as business opportunities created for people like you and me and also the supplier vendors.
There will be transfer of technology and knowledge to people like you and me, we can then develop our very own national car that can compete with the industry best with the technical know how gained.
Forex – no forex earned maybe, but the other benefits that are accrued far outweigh the demise of p1.
There is no hope from P1. Only more suffering because of P1 and its incestuous nap. I beg to differ.
Hey, I'm on holidays recently, no time to make any comments….
Mofaz? Sorry, I don't believed this tinny little Trading company like an ANT can turn the GUNUNG API around.
The only way can turn P1 around is to JV with other OEM. P1 needs TECHNICAL SUPPORT and MARKET sharing. Not just take over by some rich AH BENG or AHMAD or BAN GALI SING can do the job.
MOFAZ…ha..ha..ha……MO tat FATT arrr.
with a company that sounds like that. good luck
anyway, i dont think they'll enter unless they have insurance somehow the gman will bail them out with a healthy profit should anything go wrong.
they always release stupid sales %'s again without actually telling how much is selling.
I only have one word for BUMI CONTROL COMPANY is " SEI "
I just hope "SEI" faster so new blood will take over. Not local but foreign than things would look good.
You ask me who cares about the vendors and employees, the quality is absolutely horrible. So shouldn't be there in the first place.
The whole system should just die.
proton rox !
Can't proton import Toyota technology? 1 platform different cars so more car variation can be introduce to the market
economy fall down because of Proton? haha.. oh, please how many of us here depend on Proton? probably transformer and hikaru themselves.
While at it, please stop all these bullcrap like "the collapse of Proton will lead to Malaysia's economic downfall". ROFL guys, wake up. Proton is just a worthless business entity in Malaysia. Everyone knows Proton cars are junks. We buy Proton because the gov is controlling car prices; by imposing high duties on imports.
doing things that other people are batter at is a bit of WASTE,
how about, export dry mangosteen, canned nira water, kropok,
and not to forget put a PROTON logo, HANDLING BY KAPAL!
mo money wat…………………? foreign ex gitu
but i am still proud of proton although proton has so many problems.
btw,i saw indon news just now from astro,indonesian use toyota vios as their taxi.i'm quite surprised
think MOFAZ should go with, packed dry mangosteen, canned nira water,
,instant sup ekor, things that others NOT good at…………..
export "HANDLING BY KAPAL"
MO money wat…..
wat on earth mofaz can bring to proton that others cant??? i definatly hope it wont go through…i mofaz do wel in a diversified manner wer their investment is all over the place..not soley in automotives…besides…do mofaz really have the rm1bil that khazanah is asking for its shares to be sold? i dont tink so…
In US, it is normal to hear that another american auto factory will be closed down, it is competition, the american auto company gone, but replaced with other companies like toyota, honda, or hyundai.
I think if the car is less expensive, people has more purchasing power, they can change their car every 3 or 5 years when the new models came out, and this will keep the auto market running.
proton is going down the drain.i don't think rakyat will buy proton b'coz the resale value is like jumping down klcc espeacially now when the sales is down they gives all sorts of discount therefore the resale value is like continental cars.
Proton need an automotive company that has proven its capability in developing new cars, not a car dealer.
No good news, no new models, no decision on partnership, no money, no nothing!!… i think proton is not relevan in auto industry anymore.. it just bring conflict among bloggers here… i wudn't mind if theres no more news about proton in this blog.. not in this short period…
Mr. Paul can consider my request?
Proton news will always spark interest among us eitther to bash, comment or simple give opinion about it. It close to us as much as most of Malaysian have good or bad experience with the car.
Thus its not appropriate to filter out news about proton just because some people fed-up or hate proton names. This blog becomes interesting with some mix up news from local and foreign brand of car. I don't think I can contribute my opinion if the blog discuss about high- end car or latest Korean, China, Japs car because I've never had any experience with that kind of car.
Everyone can share their thoughts and believes about their rides in this blog, no problem if he hate Proton. What about people who love to see proton flourish in their businesses. Please be fair to others.
I strongly agree with drM Petronas is the best company
anything could happen with this new buyers……
jst hoping proton will produce another car that high in quality n high performance………
Peace