Proton denies knowledge of GM bid
Proton Holdings Berhad issues a statement to the media denying any awareness of an approach by General Motors to take up a stake in Proton. Proton says any matter of stakeholding is between the stake buyer and shareholders and it has no knowledge on it, but this contradicts previous reports saying GM officials have met up with Proton management since November 2006. Forbes also reported that Second Finance Minister Nor Mohamed Yakcop confirmed that GM is interested in Proton and the government will be evaluating the proposal along with others, with results to be announced by the end of Q1 2007.
This is General Motors’ third approach to Proton, with the first back in 1998, and the second through it’s Korean subsidiary Daewoo in 2003. It seems that in it’s latest proposal, General Motors wants to use Malaysia as a lower-cost centre to develop car parts for its plants worldwide.
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January 13, 2007 @ 9:33 pm
Zzzzz ………..
January 13, 2007 @ 9:49 pm
ya.good…………just deny all of it………………
January 13, 2007 @ 11:48 pm
Aiyo…..Potong this …… Potong that …. waste of time…close shoplah better. Less headache for the public. After years of oppurtunity given yet still fail to impress the people ! Other automakers are already moving in different direction !
Everyday this same old thing Potong this … Potong that !
zzzzzzzzzzzzzzz !
January 14, 2007 @ 10:31 am
i’ve watched US squawk blog on CNBC channel about this GM bid. one of the anchor said ” Proton?! what is this company do? why GM wants this company?. and then he add ” is this proton gonna turn into neutron or something?!” in sarcastic way. lol XD
January 14, 2007 @ 11:26 am
Yea you are right. To understand the Proton’s behaviors, first we need to know ‘quantum mechanics’.
January 14, 2007 @ 2:01 pm
In any case, I find that GM weren’t exactly interested in Proton, but rather they were more interested in buying Proton shares, which is a necessary exercise in order to acquire Group Lotus. GM wanted to develop cheap-to-manufacture parts for its China and other non-Western world operations.
January 14, 2007 @ 2:48 pm
If you guys notice, Msia has a lot of such companies for overseas companies to take advantage of.
On the other hand, when Msia companies tried to take advantage of overseas companies, most of the time Msia companies kena “makan”… Agusta as example
January 15, 2007 @ 1:35 pm
another stupid effort to raise its share value… but they r so moron, bcoz this kind of news will affect it’s existing models sales… everybody will stay away from proton’s car as it partners still uncertain… many dealers sure will die….
ps: glad i never own one (p1)….
January 15, 2007 @ 7:33 pm
Sandiwara Theatre Nusantara.
January 15, 2007 @ 10:40 pm
GM at this region is not as good as US’s GM, it’s Daewoo. Better Peugeot, Volks Group, etc. Pls dont more Korean car influence here. Malaysia, pls save Proton!