This is breaking news. The Straits Times Singapore has reported Volkswagen has scrapped it’s plans for a tie-up with Proton.
According to Reuters, Volkswagen told Khazanah Nasional that it’s strategies have changed, and a production plant in the South East Asian region is no longer priority at this point of time. Instead, focus has been shifted to the Russian and Indian markets.
Proton shares dropped 7% since this news reached the ears of investors. Apparently Singapore Straits Times got hold of this information via an exclusive interview with an unnamed government official with insider news on the deal. There are still no official announcements anywhere, and both Khazanah and Proton have no comments.
For the moment, Singaporean newspaper Straits Times is the only one with this piece of news, and they are only quoting unnamed sources. It makes me wonder why the Straits Times can be allowed to publish such a story without any identifiable sources. Why would a Malaysian government official give information to Singaporeans?
Looking to sell your car? Sell it with Carro.
And all the hopes and dreams of the nation comes tumbling down….we all kinda, sorta knew that this might happen….*sigh*
There goes our dream…
Pluck petals off the Proton flower… To tie.. or not to tie…. to tie… or not to tie… We've seen enough of this news for several months.
Proton partner tie up news. Could be the most repeative headline for motoring news.
If I were the CEO of Volkswagen AG, I would like to kick the joke that is the DPM too.
i knew this'd happen…n i guess this is what gonna happen next:
1. the G will say the tie up will not benefit proton in any way
2. the G will say we still have GM as another foreign contender
3. but then again, the Americans are just too greedy, GM will be next to be scrapped
4. with the foreigners out of picture, our local boys will be happy
5. when the bidding war is already out of hand, EPF will jump in and buy another portion of the shares
6. then only the G, through EPF will announce that they will find another suitable partner for proton (this time with the price has already skyrocketed to the high heaven)
7. by that time, proton is already way too sick for any cure, and that's about it
anyone care to create another scenario?
errr I still have hope in it. Besides we still have more than 24 hrs. *prays* lol
Or else… there goes my dream of driving a ProVolk (as in proton *marries* VW) 2.0 GTi ….or VolPro sounds better? sounds like the 80's cartoon series voltron lol
Hehehe………when they announced this, P1 share will go down, cronies will buy P1 share in bulk………..a few weeks later, VW will say there is new development in nego, so P1 share price go up again……..then cronies sell at very high price……….everybody happy………except bloggers here who don't know what's happening……..
Actually it had been decided, juts waiting for the announcement……..and some extra quick cash to be made…………..
Any remisiers here…….??? True righttttttt………???
hei.. you might never know.. .proton might say "We do not see ample benefits tying up with VW so we will choose a china counterpart for their manufacturing capabilities and to penetrate the china market as aur car are made for this. We also are looking at Alado for their China connection, and LMG for their technological benefits. Proton choose not to be with VW because they do not want to give us a share of their South African market which is where we can also market our fantastic cars"
Proton continues "Why Africa and China? Because quality level are reasonable over there for our cars"
And if people question how come Proton Gen 2 become Aust official safety driving lesson car? Go figure, you have to be extra careful with a piece of paper. No?
Proton might even come up with this "We are looking to take over Lada, as we would like to have their technological advancements in producing cars that can withstand the harshest tempreture of Russian Winter, with this technology, we might be able to enter various market from the northern and southern hemisphere, we can be like Starbucks soon! we are everywhere!"
hehe…guess u'r rite after all….
Seriously – who the hell in their right mind would want Proton at this time? The company's a mess, the finances are the mess and the product – the product is a total load of crap.
Please let the whole company just fold up and bring an end of the absurd protectionist policies that prop up Proton at the expense of the nation!
Die Proton, die!
How does one say "farked "in the German language. coz that's what Proton's future looks like from the outside. haha.If this news is true.
Guess Martin Winterkorn (Top Dog of VW) figures VW's deutschmarks are better spent elsewhere..
sigh~~~~
A little bird told me that the partner will be NAZA. It is already pre-meditated between Tun Mahathir and Badawi as part of their "peace plan". It's a win-win situation, for both of them. If not, how do you think TM's son's company can get re-listed and it's share price shot up so high in such a short time (it's Kenanga if I remember correctly). Noticed how dormant TM's attacks have been lately? It's all political plays.
The whole VW, Peugeot talks are just a smokescreen as a show to the public they tried all avenues possible. When NAZA is announced as the winner, every spin doctors will say it is a good deal, local tie up will keep proton in the hands of malaysia, blah blah…
Well I'm not saying a partnership with NAZA is a bad thing, it's just that if we're gonna partner with someone, shouldn't it be with someone more experienced and knowledgeable. NAZA is an assembler, PROTON is a manufacturer. Why seek out someone lower at the food chain?
P1 is neither high or low cheap class.
That the worst!
SIMPLE:
Marry with VW will put P1 as high class car label.
If marry with local parnter, likely will be same class car label (KIA, Daewoon design car, china brand copy car), what do P1 gain?
I think that also a bad ideal
Look at the car industry in this region.
Thai got Toyota and other car manufacture with better Quality build and reasonable price.
Why manufacture not come down Malaysia long ago? Why now talk abt parntership with BIG brands?
U think abt it…..
If you want the objective of providing people's car, P2 win.
Actions and result shown, P2 No.1!
Conclusion: This is a dead trap for P1. Past news and new management come up only create fireWorks…. then dead down. No solid works all the along. if there any BIG news coming up, can give a miss, waste time read up or study it….. it left with only a JOKE of the DAY!
haha…..
Yes it is NAZA, that is my thought also.
Still pride comes in the way of progress. If there's another alternative in which actual foreign FDIs and technologies are transferred to Msia, then it could not be that bad after all, furthermore when you are already at the bottom rung, whats' there to feel lost and shameful if you drop a few more fathoms down.
Yet again, msia is stepping backwards to good old 50years of PR-glorified years of living in denial, and over steriod complacency.
Sad day indeed.
superman said,
March 30, 2007 @ 10:16 am
How does one say “farked “in the German language. coz that’s what Proton’s future looks like from the outside. haha.If this news is true.
I checked Babelfish and the word is "Bumsen" :)
From the onset of this deal the rakyat is the ones getting "bumsen" from all the 'wayang' happening. Throw in foreign partner, say foreign partner not good. Wait few months, mention some other big names, then say all rumours only. Wait another few months and throw in more foreign partners to generate publicity and interest. Then throw in local partner in the picture and let everyone guess. In the meantime Proton shares surge up and down and in the background a few people are making huge profits… so who says Proton doesn't benefit the nation?
It's all very simple really. Proton lose money is due to management problem. CHANGE management, solve problem… but are these people gonna give it up? It's all a matter of economics really. A company running at a loss doesn't mean the directors and higher management don't get paid huge salaries and bonuses. A skinny cow still produces milk, so let's milk it dry…
no matter who is the winning partner, we just wait and see what products they will come out later. anything that benefits rakyat is a good news. talk crap or hearing rumours is really wasting of time.
lol !!! we're once again JOKEs to the world. why would VW partner Proton when we produce CRAPS….brings down VW name….
i'm mad on two things here – one is the so called foreign strategic partner is gone.
the other is, what the hell a singaporean tabloid reporting this story?
how much more we gonna to kowtow to these foreign lion south neighbour singapore?
hey hey.. seems everybody are anti p1 here.
anyway, proton is dying la. no matter who step in..
if proton dies, then we can get cheaper import car.. yeah!!
because our goverment no need to protect our national car
how about brand new camry with
cant say much because all of u are anti-proton.. but please think positive.. `ada hikmahnya` as in islam..
maybe proton would be better if they had a local partner instead?
the G wont let proton die.. its too much a national pride for em..
I guess we all saw it coming.
And now we are facing the reality-of-reality.
We have to agree. Proton IS in a mess.
The company's practically "brain-dead" and relying on a "life-support" machine to survive until … don't know when.
I just hope someone will "pull the plug" soon.
ys, the government will never allow P1 to die. They'll inject taxpayers money into P1, and the waste of people's money will continue forever. I'm sure sooner or later, Petronas, EPF or other cash rich GOCs & GLCs will come into the picture. That is where our money goes…
BORING…………………………..Good luck… PROTON………..
its a singaporean conspiracy!!! i've checked all the worldwide news sites, and they're the only one carrying the story… i wonder why??
Here is an update from Reuters:
http://www.reuters.com/article/mergersNews/idUSKL…
dont be so naive riderx…when it comes to the G, there will never be a straight forward story that comes out from them….what's written in the news is always a miniature of truth of what's really happening out there (that's the very reason why they have EDITors in the first place =p)….there are always strings attached to everything they pull in this counrty….probably sooner proton will be handed to a local company, saying it's for the best interest of malaysia proton remains in msian hands….but there's always a bigger agenda behind this (like 'someone' has been lurking behind the darkness all along waiting to gobble proton later and make quick fat bucks out of it)….the ups and downs of the stocks, someone gotta benefit from all this….
but then again, that's just me….probably i've watched too many prison break shits to come up with this conspiracy like thing, hehehe
KUALA LUMPUR, March 30 (Reuters) – Shares in Malaysia's state-controlled carmaker Proton Holdings (PROT.KL: Quote, Profile, Research) fell nearly 7 percent on Friday after a Singapore newspaper said Germany's Volkswagen AG (VOWG.DE: Quote, Profile, Research) had scrapped plans for a tie-up.
hahaha, hameed koyakuti, just like u said bro….now we will wait for the 'great' news to lift the shares up again…
Somehow it is not surprising at all, anyhoo, as I've said earlier, it will be taken over by a local player. Too bad, it could have been better, wonder why they cant do what Perodua did? How hard was that? It appears that it is very hard indeed :( Shame, shame, shame. Malaysia Boleh!
Good, here come P1 dive into drain.
proton still interested with chery kot….early before all this partnership crap….can u remember. haha crap. proton better 'die'lah. leave p2 alone rebadging toyota and daihatsu for both market, the end
Protectionism and arrogance has taken its toll againts the average Malaysian car buyers. Now, all my dreams of quality & affordable cars to the masses are shattered. So dissapointed with how the G and its cronies run this country. If business and politics are mixed together, this is what happened. Rakyat suffered in silence yet some priviledged few became filthy rich.
Weird, news are comflicting. First, the "advance stage news" that the top VW official said and have even planned to introduce a new model. Then now the tie is off. So these two are conflicting and look who is gaining. The stock market.
So it's probably the case of some one using the controversy in this deal to make some quick (huge) profits. Some one is feeding the media with news. They might be called spin doctors.
We the citizens are just being take for a joyride. No much point keep a close eye on it. Even the names appearing in the papers are just pawns for a bigger chess games. I have lost confidence to say the least in this deal. I was hoping and dreaming of a Malaysian good quality volkswagen (folk wagon i.e. ppl can afford). I think some one said before "it's the malaysian was, or leave the country", in terms of car, i will look towards Jap or Europe cars. No local or china cars for me
hondadriver said,
March 30, 2007 @ 11:02 am
its a singaporean conspiracy!!! i’ve checked all the worldwide news sites, and they’re the only one carrying the story… i wonder why??
______________________________________________________
Have we pissed our neighbours lately??
meejawa said,
March 30, 2007 @ 10:19 am
… it’s just that if we’re gonna partner with someone, shouldn’t it be with someone more experienced and knowledgeable. NAZA is an assembler, PROTON is a manufacturer. Why seek out someone lower at the food chain?
____________________________________________________________
Good Point ;-)
well usually they piss us off first lol
but last few days in the Parliament shahrir samad questioned why they (the southern country) are interested in the high speed train project (the one YTL has started initiating) to be built up to there… why not up to JB only. Well… i guess. The rest *shrugs*
maybe Temasek wants to take over Proton? since the are losing shin corp now, you might just never know. As we all know, Singapore national car is Toyota and Nissan, and they really need a new national car, why not Proton since the potential to grow is tremendous…
Why i say that? well, an image of the company can be changed over time. Proton already has the manufacturing capabilities and the techno know how, so the growth potential is tremendous.. serious, i see proton as a very rough diamond, just like in Blood Diamond, the the uncut pink diamond stored in the vault… Proton is just like that, think of Van de Kaap is Gov't, and Leo Di Caprio as DrM for finding the diamond, whereas the black guy is some one with Proton idea… so now we need someone to actually cut the diamond…
Go Naza Go..!
Who wants to be PARTNER with a group of CLOWNs?
When you talk to a clown, Every answers from them are JOKING, Maybe, Not sure……..No conclusion……..is for sure.
NOT a Surprise to me!
Nazi? Hmm…….Just another type of CLOWN
no matter what happens, life goes on la. i'm trying to imagine the scenario…
if proton shuts down tommorow, we will still be burdened by fuel hikes, toll rates, water rates, electricity..etc. etc. rich will still get richer, AP kings still get their AP's.. car prices still high (government collects more taxes, why should they stop?)
we lose the chance of buying cheap protons..
so i suppose the normal malaysian will end up buying china, perodua and naza cars because they are the cheapest at the moment. when power window problems end with proton, we will end up complaining about power window problems in china cars, naza cars.. perodua cars..etc.
so will any of the proton bashers here be any happier if proton shuts down tommorow? i think that remains to be seen.
well…to all muslims, lets pray for proton after friday prayer…amin.
i wd bl**dy hate it if it if proton ends up in local hands….anyway,this is jus a rumour….lets not jump into conclusion n consider a rumour as a true story….
rilekla.. trick je ni.. share prices of course will tumble to hear these kind of runours.. Then VW/Proton will announce that they have reached an agreement.. By that time, VW already bought Proton shares at a very low price, an no body would know it until its too late..
so.. go an buy proton shares now!! Mega sale..
You can pray to all the gods and once, call in the bomoh, sacrifice a goat, and nothing will come of this pathetic car company. National Pride was what I heard someone earlier described if we let Proton go. How about face the facts this is a national joke, so we have punchline when is this going to end.
This is just the nail in the coffin for this company, VW a company that could give proton a clue into car manufacturing pulling out of this signals the end.
I second the call to let this company die, if they are going to bleed our EPF to keep this going let the conspiracy become obvious. But dont support this leech, its quickening our downfall.
I guess Proton was infected with AIDS shortly after being born. It took some years before the symptoms started to show. Now its reaching the end, after failure to develope a vaccine. It's gonna die soon, sufferingly. It should look into euthanasia.
i p1 doesnt pair up wif a foreign partner, i'd sell of my gen2. it sucks anyway…
Wasting time only la …
Deadline is tomorrow. Najib already showed the govt's hand — they won't make it. wtf has MITI and MoF reports got to do with this? It is squarely on Khazanah"s board to decide the matter or to carry out the negotiation for the sale of its assets. (well, looking at this from the proper corporate point-of-view)
Anyway, VW have never come across as too keen to negotiate this second time around, after their first experience. And what with the govt dragging their feet and passing the buck around, it's reasonable to assume that their team is already totally fed-up. I would, if I was their negotiator.
I mean, dealing with indecisive people is the worst thing that can happen in a JV. How can product lineups be decided upon, vendors selection requirements reviewed and agreed? Will this new JV be stuck bickering as the race to release new models into the market heats up? Opportunities are gonna pass them by, if the conduct of this protracted negotiation is any indication. This will weigh heavily on their top mgmt decison-making.
Germans are inbred with efficiency. This nonsense will not do. Worst of all, it really makes the country look like a bunch of idiotic Elbonians in the eyes of the global automotive industry. (Our govt can't even properly conduct a straight forward business negotiation, and our people elected them…)
The reason I think the partner will be local (either DRB Hicom or Naza, although my money's on Naza), is because even after the partnership, Proton will still be protected. Whoever sleeps with Proton, will reap the benefits as well. The high prices of imported or non-local cars are due to the taxes imposed by the government, which in turn is used to subsidize Proton, as the protectionism mantra goes. So in terms of profit margins, local cars actually have more.
In a way this is not ba, since local+local companies can have higher revenue, and theoretically the quality will improve, although we all know not to the level if Proton were to partner a foreign brand. That in turn will keep more money in the country. Reality however proves that the money will only go to the few chosen ones.
So at the end, we will get slightly improved cars, at a price we can afford, with more money to the cronies.
Come AFTA 2010, when all forms of taxes and duties are leveled, do you think Proton/Naza's cars will be at least at par, quality and price wise, to the other marques? How will they compete then? They only have 3 years to go, and Proton has been in the business for more than 20 years!
This is what Proton should be thinking: SHAPE UP BY GETTING A GENUINE PARTNER WITH THE TECHNOLOGY AND PASSION.
Sadly, that's not gonna happen. I'm keeping my iswara till it goes to the scrap yard; hopefully it can last until 2010. Then, here I come Beemer 330i at RM150k!! :-)
WHY………? Because the cronies, I believe most of them are the MPs in the current Cabinet are too reluctant and selfish to let go their interests in Proton VW are clever to let go the tie-up because Proton is a mess, full of politics and uncertainty, it' not just a genuine JV between companies, it involves dirty politics and self interests..
We live in a beautiful country ruined by Fxxx-up Government.. they are sucking our money, selfish, incompetence, talking nonsense etc…
outspoken said,
March 30, 2007 @ 1:21 pm
rilekla.. trick je ni.. share prices of course will tumble to hear these kind of runours.. Then VW/Proton will announce that they have reached an agreement.. By that time, VW already bought Proton shares at a very low price, an no body would know it until its too late..
so.. go an buy proton shares now!! Mega sale..
______________________________________________________________
Yep, u're damn right!!…let get proton shares now be4 VW&P1 announce their tie-up!!
proton so resilient laaahh.. why ahh
always something keeping it from getting into shape..
die die die proton….
(just for the sake of it) hahaha
update: talks are still on
http://paultan.org/archives/2007/03/30/volkswagen…
see see… all clown only.
no need to ask anti-potong whether they are happy if potong is no more. no need to say 'wait to be seen'; why can you get it? most ppl here are jijik with this porn wayang … entitled 'Potong' and of course all its production crew, film director, choreography director, sound editor, advertising agents, fans etc.
Taaaaaaaaaaaaaaaaaalk only ………………….. no deal ah by 1 April fool lor …..
Intermilan,
how about u be the actor for the porn movie? go and buy potong and manage it.. laa u guys know to talk only…
maybe the singaporean camp is being shrewd; if i'm not mistaken, they do hv some shares in Proton, and, maybe they know the REAL news, so they are spreading a misleading one to make others sell, so they can buy and PROFIT when the REAL news in made known!