The Proton Saga continues! The Edge carried a report today that Volkswagen and Proton will be forming a new joint venture company to carry out joint model development and marketing, with Volkswagen holding 51% as well as manufacturing, research and development and engineering division control, while Proton holds the remainder 49% and control of other parts such as sales.
This report caused Proton shares to rise as much as 21%. The same report also mentioned that Sime Darby Berhad will be taking over Khazanah Nasional’s 43% share in the company, something that comes as a surprise to me as Sime Darby has been quiet all this while, with the local forerunners seen as DRB-HICOM and the Naza Group. It is said that this deal will be finalised during the Khazanah Nasional and Volkswagen meeting in New York while Khazanah officials are there attending a roadshow organised by a Malaysian stockbroker for US investors.
So far, attempts by papers to contact Sime Darby, Khazanah Nasional and Proton spokespersons were unsuccessful. Before you celebrate, here comes the punchline – Volkswagen spokesperson Andreas Meurer says “This report is definitely wrong and only rumor without substance. We will have a round of talks soon”, referring to The Edge’s report.
The thing is, is there truth to The Edge’s report or not? If it is true, is Volkswagen is merely steering clear of rumours and denying anything before things are concrete? I certainly hope so.
And the saga continues…
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. An avid electronic gadget aficionado as well as big-time coffee lover, he's also the executive producer of the Driven motoring TV programme.
THE DEAD WALK!
I'm not sure is true or not, but it doesn't look likely that Proton will give out his 51% share so easily, without government kacau. But I sure excited if the deal get a green light. Not sure is good news or not, but I guess it will be better then what proton if facing right now.
I dont think the deal will be sealed this year esp since election year is soo close. Whose gonna fork up the cash and sposoring cars for the politicians and their machais around malaysia?
Best case senario deal will be done at 11th hour next year. Worse case senario, proton sold to Naza. Which in that case… say bye bye to m'sia car industry.
after the close of P1, don't forget about the APs too
where did The Edge gets the source?
bad rumour = shares price down
good rumour = share price up
whats happening?! @#$##%!
http://www.reuters.com/article/mergersNews/idUSKL…
what about this then????
The saga continues? It should stop, both the talk thingy and the same named car.
Hmmmm……
Leaked stories…. shares up 21%???
It would be very, very intersting to know how many shares in Proton EPF bought just before this 'leak' occured, and if their genius fund manager managed to sell them on again before VW allowed the truth out! It happeneded earlier this year already!
Insider trading anyone??
Ai yo yo…why need to ding dong so long. Chrysler was sold in a short time only. Volvo going also for BMW …how come Proton errrr what Proton ??? what is there so important for the global world. Maybe for some people in Bolehland will be affected la.
Proton Jetta yahoooooooo
i think the reuters link provided by kei9 would sound more reasonable compared to Edge.
hmm.. now wonder if we can trust the edge… shoot… i wonder since when Edge become Malay Mail… all gossiping now..
someone sure made some handsome profit from the share
Hmmm. I had notice all this while that THE EDGE had been one of the speculators in the sharemarket. I think they are backed by certain organisation or institution or merely reporter's personal benefit. Very unethical. Full of lies actually……..Especially a reporter by the name of L**la Barr*ck, full of hearsay……….no facts………Disgraceful………
wat is clear is that a deal of some sort has been done…but one of the parties are not jumping to anounce anyting….but i mus say ,usually the Edge hav accurate reports from relaibale sources….
If u look at their articles, the ones with the quoted source is true la, but some are just hearsay………..happened to me n my company thrice, so i know its false………
There are many speculators out there, including this blog! Anyway, who cares. Proton or no Proton, not gonna make any difference until AP's and tax structure is changed.
"The bitterness of poor quality remains long after the sweetness of lower price is forgotten." Good company takes 6 month to come out with new model, Proton takes years… syabas CEO baru…
"INSANITY is doing the same things over and over again and expecting better results!"
all these ding dong news is just for the G to hype up the marketshare.. this is the time they actually take advantage of the current uncertainties of proton view by the rakyat as one of their tools to make money for the up coming elections and of course indirectly profiting the cronies.. no matter what, if there is still no confirmed answers to the joint venture and with the date keep postponing, it means the G is still playing games..
the most funny thing about this post is "the Proton Saga continues"(no pun intended)
The link that kei9 posted were merely Reuters commenting the rumours started by the Edge. They didnt know which end is which.
On the Proton "saga" continues… I heard that Proton will stop manufacturing the saga by the latest 1st 1/4 next year since the BLM are prolly out by then.
yup….quite a good phrase to start with……and lasted 22 years on the product and still continuing….
if they would make a book on this i bet it'll sell better than the cars that they are making……zzzzz
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digiman said,
June 7, 2007 @ 4:40 pm
i think the reuters link provided by kei9 would sound more reasonable compared to Edge.
hmm.. now wonder if we can trust the edge… shoot… i wonder since when Edge become Malay Mail… all gossiping now..
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But Digiman, if you read the article rendered by Reuters carefully, they did acknowledge that they got it sourced from The Edge. Refer to the statement :
"Quoting unidentified sources, the Edge financial daily said Volkswagen was likely to take a 51 percent stake in a new company into which would be injected Proton's key motor assets, such as manufacturing, research and development, and engineering."
err… is this a good news or wat?
What a joke ! these ppl like kids.
Sekejap ada Sekejap tiada.
I'm bored, i just wan cheap and good quality car.
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50 Years is ENOUGH, Vote for a change, Vote for any oppsition !
torishimeyakuin
i read both the Edge and Reuters. Difference is that EDGE says already done deal.
Reuters says its a possibility.
Like i have said, Reuters put it in a much more believable manner compared to EDGE.
crackho: APs and Tax Structure is caused by Proton. Yes that i have to admit. But also partially by Perodua.
cool…
TSI and TFSI engines in proton…
"Sime Darby denied the report, Malaysia's government news agency reported, without citing anyone. Ahmad Zubir Murshid, chief executive officer of Sime Darby, said he was in a board meeting and was unable to talk when reached on his mobile phone.
Faridah Idris, a spokeswoman at Proton, declined to comment. Ahmad Shahizam Shariff, a spokesman for Khazanah, didn't answer a call to his mobile phone. "
http://www.bloomberg.com/apps/news?pid=20601100&a…
Hmm, so it's false news. =(
The share of P1 rose from 5.30 to almost 6 yesterday.. and today from RM6-7.05 then come down to 6.45.. Wow.. rise almost RM1 perday… I think a lot of share holders decided to sell p1 share after hit the RM7 barrier.. I think P1 share is hard to buy now.. coz the price is consider high and dangerous.. if VW came out failure.. bye bye the current price.. Anywayz i really hope VW will take over P1 from that greedy G..
ya la… somebody spread rumours and make share price up. And we know who are the people who benefits (before it crash back below normal price)
The Proton's Saga is becoming more and more interesting.
Damn, perhaps somebody should turn it into movie..Probably it would sell better and boost the Proton financial state back to black..hehe..just kidding.
With all the spinning, speculations and manipulations, more excited to keep watching their cha-chas and tangos !!
As for the Mr. Prime Minister, you can cha-cha and tango all night long from now on with the new partner..ooh yeahh. Good to you and congratulation !
So they will be no more cha-chas and tangos with Proton commencing this Saturday. And at least by next week, we'll be hearing to new level of progress about Proton. Gosh..What a perfect timing !!! BINGO…
just wait….like always….hiah….
yeah…. congrats to PM…..
NOT AGAIN…….. SAME OLD "someone buy P1"……
I don't even know this is true or not, the talk is on and off, off and on, until I heard Pak Lah has annouched the final news, I will be skeptical of all of these rumor…
Chris Yap of MTM said.. “Also, the question no one has asked yet is: “Will the new company, under VW ownership, enjoy any special privileges because it still uses the Proton brand?” Or will this be an opportunity for the government to declare the market open and no special privileges for anyone any longer?”..
what marry?…Proton and volkswagen ? or Proton with GM…..ahh..those not important….my marry first la….those joint venture can wait maa..
Why you guys are acting suprised to pak lah wedding? It's one of the worst kept secret in the country…
Maybe The Edge owner have some Ptoton's share which he wants to eliminate. Before that, why don't just give a speculative news which can skyrocket the share's price? Insiders trading?
Proton Perdassat & Wajetta anyone?
Just have to dream on if what VW said was true…
normaluser said,
June 8, 2007 @ 7:40 am
Proton Perdassat & Wajetta anyone?
Just have to dream on if what VW said was true…
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Yo… Proton Passadana and Wajatta sounds better eh? lol
Anyway, I'm sick already with this saga… going on and on and on… even 6 star wars movies got an ending, this saga…. haiyaaa… donno what else to say lol.
ed0r , u came up with names quite well…ahahha!
As I said BEFORE, Someone is trying to PANCING EASY money from PROTON shares. Make false news, false statement, all because of MONEY.
F YOU!
The proton still got 49% ??? means they still don;t give up …. the VW got 51% erm so have P1 got new model soon ?? pls la no more saga , wira , Waja , gen2 …. give something new !! VW thx for taking 51% share … we r waiting u fair price & nice quality cars …
Dear VW,
We want ur expertise, experience, and passion in making cars. I prefer driving a rebadged VW rather than a rebadged Daihat………
Please share ur technology with us. We want ur solid quality, DSG, and TFSI. And can u consider selling ur cars at RM40K – 45K?
All along I believe 51% should go to VW or whoever wanted to JV with protong.
If this one is sorted out the marriage would go ahead. Otherwise kiss goodbye and comeback home (all the negotiators) and fly kite.
auctioncenter2u,
LOL luckily protong counter is never in my list.
It may fall to rm4.00 later then all the sucker 'babies' would sembah the sugardaddy G to pump in more money then make some more good news, then share go up, and the cycle goes on. Of course la…if you dont lose money how can i gain, said the puppetmasters at protong.
Kalam said,
June 7, 2007 @ 5:46 pm
“INSANITY is doing the same things over and over again and expecting better results!â€
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I've heard this thing before……you've been to Lawrence Walter Ng's seminar before? I've oni read his book, lol. Very good, highly recommended for all students of Msia to read them
ooh, since i'm sooo free this morning waiting for my car at Toyota SC, lemme me share a good SMS i received from a friend last nite:
"Every Malaysians wants to know when the PM is announcing the forthcoming ELECTION but instead he announced his forthcoming ERECTION"
go on send it to your buddies…hehe
no hard feelings.
Someone made tons of money from this. Thing is, is it linked to some funds to raise $$ for the election??
for me, proton is like ugly dumb man who wants "tackle" the brilliant and pretty girl vw and proton doesn't get it on..suddenly, proton told his father(gover) about his problem, and his father masuk meminang….but she is brilliant, of course she doesn't want that ugly boy with hingus meleleh…now, proton's father knows that his son will be rejected by mostly all girls in this planet, and father coverup the truth by saying at his son….still talk…. sedang cakap..talking happen…..sedang berbincang…..proton's father will say those miracle words until his son die….HAHAHAHA….KENE KENCING JE PROTON NI…..
Opps pkimalaysia,
It should be opposite. VW is such a handsome, macho and high class gentleman whereas Proton is…..such an ugly pussy…yeah pussy cat doll.
mmm…
can i say "x akan Proton hilang di Malaysia"
Can ar kawan…:)
False floating of stock?