Proton chairman Mohd Nadzmi confirms bid for Khazanah stake, reveals plans for the company should he succeed

Proton chairman Mohd Nadzmi confirms bid for Khazanah stake, reveals plans for the company should he succeedProton chairman Datuk Mohd Nadzmi Mohd Salleh has confirmed that he is one of the bidders for Khazanah Nasional’s 42.7% stake in the national carmaker. Apart from this “management buyout” bid, other parties linked to the deal are DRB-Hicom and the Naza Group.

He revealed that Proton’s management took the matter to him few months ago after rumours of interest in Proton from various parties surfaced. They then asked him to make a bid for it because of his experience in setting up Proton and leading the group in the past.

Nadzmi believes that privatisation is the way to go for Proton, which would enable him to restructure the whole group to turn it around. “I know the business well, and Proton is close to my heart. There is a potential in Proton and that is why I dare to make a bid, and the offer runs into billions,” he told StarBiz.

He however did not reveal the offer that he had submitted, saying that an offer for the net tangible asset price of Proton will be too high as Proton is not an easy project. The man added that he is already in talks with some foreign banks regarding financing.

He has firm plans to recoup back his investment, should he succeed. “It is all about how you juggle your assets. This could be done by increasing the utilisation rate of Proton’s assets, cost reduction and also increasing Proton’s exports. These steps could easily add a further RM500mil to RM600mil to Proton’s bottom line.

“Besides the increased utilisation of the Tanjung Malim plant, Proton needs to transform itself to be a global player, and I believe the upcoming model codenamed P3-21A will be the global car that will transform Proton’s DNA. The car will be a completely different car with better material and design coupled with modern features. One thing is for sure, Proton’s DNA will shift to a higher gear with the plans in place,” he said.

Speaking of Tanjung Malim, which is utilised at an average of 52% now, “Proton can raise its utilisation rate by having tie-ups with other brands to assemble or manufacture their products,” Nadzmi opines, while confirming reports that General Motors (GM) is interested in the plant.

Tie-ups with foreign parties is key, citing examples like Proton’s recent deals with long time partner Mitsubishi and Chinese company Hawtai, but Nadzmi does not believe that Proton needs a global OEM to turn the company around. “I hope to do a lot more tie-ups with other brands, as Malaysia today has a lot of capacity, with more collaborations and on a multi-franchise business model, it would be easier to control the local automotive industry.

“Contrary to what some might say, that Proton needs a global OEM to turn the company around, Proton is essentially a brand with Asian roots. How would it fit into the portfolio of a global OEM with its collaborations with MMC and other joint ventures? It would clash with the interest of Proton whereby OEMs like MMC would not be willing to collaborate further as they would run the risk of exposing trade secrets to third parties in the form of another global OEM in the picture,” he explained.

How about the cash hungry subsidiary Group Lotus? “If I buy Proton, I will cut it off, and probably retain a 20 to 30% stake, which translates to a lot of savings every year. There is a lot of potential buyers for Lotus, and once a deal is signed it will be written back to the books of Proton,” he said.

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Danny Tan

Danny Tan loves driving as much as he loves a certain herbal meat soup, and sweet engine music as much as drum beats. He has been in the auto industry since 2006, previously filling the pages of two motoring magazines before joining this website. Enjoys detailing the experience more than the technical details.

 

Comments

  • Hmm Potong chairman so rich !!!

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    • Quattro on Jan 05, 2012 at 11:44 pm

      Byk dpt untong jual kete potong wira masa dulu> 20 tahun model sama > rakyat has no choice> kalu persona baru ni mahal, baik amik kete vios terus

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      • just close down the company n fire all of them. then rakyat can stop talking about potong and buy other cars. then gomen can concentrate on making more money from taxes of the other cars. period.

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    • Paint on Jan 06, 2012 at 7:39 am

      With all his proposed plan, he could have done the same now, rather than wait when he take-over Proton. After all, what’s the point of he getting appointed chairman if he can’t spearhead Proton into profitability? Suggest PM interfere and kick this fella out before he starts selling the proton factory and machineries by the kilos.

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      • Proposed, but accepted by the board or not? That’s why he wants more control in co so that he can spearhead or whatever head to profits. Easier said than done. Just simply want to kick people out, can aa? how about people kick u out?

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      • Black Dog on Jan 06, 2012 at 1:50 pm

        It’s the same for every GLC guy who wanted to take over & promises the moon but losses time and again. He’s talking cock when it’s him who’s part of the ‘past mistakes’ all the while. Meanwhile by just making an announcement, he might have pocketed another few millions on the stock market. He should be the first to be chop off (and also the MD) whoever buys Proton, if not the same old bail out story will happen again!

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  • Hmm..so tanjung malim plant is utilised at an average of 52% only..interestingly, according to The Star report today, Proton is in talks to sell up to a 50% stake in its Tanjung Malim plant to General Motors Corp for as much as RM800mil..good news perhaps?

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  • izzat on Jan 05, 2012 at 3:21 pm

    damn kaya la dia ni =D

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    • bukan dia kaya …. bank kaya ….
      ….. dia plan on paperwork jerrr… how to make it happen ….

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    • Sentinel Prime on Jan 05, 2012 at 4:19 pm

      Tentu lah. dia tu vip cronies UMproNO kan. Cronies tentu kaya lah. rakyat biasa macam u mana ada chance.

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      • haha.. kaya saja kroni umno.
        tu pasal la PAS PKR DAP mau pergi itu putrajaya so that they will be rich too like nadzmi
        lololol :D

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    • civicEK on Jan 05, 2012 at 6:49 pm

      i guess Robert Kuok also from UMNO hmm no wonder he’s damn rich!!

      lolololol :D

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      • BadBET on Jan 05, 2012 at 8:08 pm

        his late father is a friend to the late administration. If not crony, then how did he manage to get manapoly license for sugar?

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        • Paint on Jan 06, 2012 at 7:35 am

          with blood, sweat, and tears laa. You think everyone like you ka? Talk only.

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          • what blood and tear? show laa

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          • BadBET on Jan 06, 2012 at 2:36 pm

            hahahaha… you really believe that?

            1. Robert Kuok loop hole to be millionaire is through Malaysian Gov aka CRONY. Thats fact for those who read.

            2. It must be coincidence that Lim Goh Tong to get the mountain, right?

            3. Ananda Krishnan must be super lucky to had the right to buy the old ‘Kelab Lumba Kuda KL’ before sold to Petronas, make half billion profit in 6 month time.

            The list will go on to every billionaire in Malaysia.

            Who is stupid enough to really believe that they really depend on blood, sweat, and tears to be billionaire.

            Mr Paint, Pity you.

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  • BadBET on Jan 05, 2012 at 3:25 pm

    I agree that Proton need to be privatization so that the ‘non-needed’ crony can be kick away. But, I do not think this guy is the right man to own proton, he have been with proton for so long yet he himself is part of Proton bad apple.
    Don’t tell me he has nothing to do with Proton ‘below-par’ product.
    Let some one who is really capable to run the show.

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    • mizzuddin945 on Jan 05, 2012 at 6:25 pm

      wonder why not Mahath*r himself buy Proton…

      he can do whatever he likes afterwards… Protongkat definition will be no longer valid…

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      • BadBET on Jan 05, 2012 at 8:12 pm

        I think he dont want to make havoc by openly telling people that he is rich. A lot of question will be ask then. Use proxy is better. LOL

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      • he is old already la. Graveyard is calling

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  • Syaz007 on Jan 05, 2012 at 3:26 pm

    Thank god he didnt buy proton.. Selling lotus? Lotus Needs proton as much as proton needs lotus.. Lotus will be profitable one day, proton just need to be patient, at least until the new esprit comes out..

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    • rajaiskandarshah on Jan 06, 2012 at 10:10 am

      All these individuals who want to buy proton dont have sufficient money. BUT PNB can raise RM1 billion from rakyat in 30 minutes. PNB and rakyat own more than 51% in Maybank, Sime Darby, so PNB capable of managing huge companies. PNB have no problems of raising money.
      It is also fair, coz Khazanah used rakyat’s money to bail out Proton from an individual in the past – why want to sell back to an individual ? Later have to bail out Proton again. Khazanah should sell it back to the rakyat (at a discount).
      Tun M philosophy has always been to create the mega-rich at whatever cost to the rest of us. Dont listen to him.

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  • tiadaid on Jan 05, 2012 at 3:27 pm

    I guess tuning up Nissan’s GT-R (among other things) isn’t good enough to keep Lotus in the Proton fold.

    Perhaps they could sell of Lotus Cars & keep Lotus Engineering.

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  • Farhan on Jan 05, 2012 at 3:34 pm

    Sell off Lotus…? Should Dany Bahar plan succeed, would it be a waste for Proton if it is sold now..?

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  • sawdust on Jan 05, 2012 at 3:35 pm

    He is the chairman now, why can’t he turn around the company in his current position?

    Why he can only turn around the company once Khazanah sells to him?

    What Datuk Nadzmi has done just is confirm that none of the Proton upper management can do their work to turnaround the company while Khazanah and the people Khazanah serves control the company because of “limitations” and “untouchables”.

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    • PakAbu on Jan 05, 2012 at 4:24 pm

      I think he wants to pull off proton from the bursa (like maxis?) so that he has more control of the company. Right now he’s the chairman but answerable to Khazanah/government.

      “Nadzmi believes that privatisation is the way to go for Proton, which would enable him to restructure the whole group to turn it around.”

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      • BanyakMashukWang on Jan 05, 2012 at 6:42 pm

        I’d like to look at his other portfolio eg KTB. That co now is living on aset selling while operation is… ah you people all know… Transnasional. Now he is talking about selling this and that if proton is given to him… So any other hope folks?

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    • sean ZX10 on Jan 05, 2012 at 4:55 pm

      CORRECT!!!…nadzmi did not appear to do much until now because who controls PROTON? Khazanah + who is the advisor now…that’s the main culprit..the hindrance.the bad apple..I 100% support nadzmi…

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    • there are different level of motivation and resposibility for a chairman that act as a representative of khazanah with a chairman who himself own part of a company.

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    • rajaiskandarshah on Jan 06, 2012 at 10:23 am

      i think what nadzmi is trying to do is not so much personal investment – but the the management trying to avoid proton being sold to drb-hicom and naza. selling to these group would end up like liverpool under gillete-hicks, or man utd under glazer. these groups dont have the money – just borrow, borrow, borrow.
      imho, just sell it to the rakyat via PNB fund ASD or ASW or ASM, rakyat can raise RM1billion in 1 hour.

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  • ApaSaJa on Jan 05, 2012 at 3:36 pm

    Free money for Proton. Tg Malim land was given to Proton by G. Now they selling it and consider as their profits. What kind of mentality is this?

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    • ahmadi on Jan 05, 2012 at 4:12 pm

      they are not selling land lag bengong! they are selling their share in Tanjung Malim plant.

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    • littlefire on Jan 05, 2012 at 4:21 pm

      Time to get money in their pocket ASAP!!! Dont you know the next GE is coming!!! Even Sharizat can buy a few condo using NFC money why not them?!? :P

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    • Sentinel Prime on Jan 05, 2012 at 4:22 pm

      Ini hak istimewa cronies dalam DEB UMNO-BN. sebab salah u lah undi kat mereka.

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      • Pls dun involve politics here pls~ be professional..

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      • blmers on Jan 06, 2012 at 8:44 am

        aku tetap akan terus undi BN selagi PR leader otak sempit mcm kau.. semua nak politik. masuk blog auto pun nak ceramah politik.. pathetic..

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    • SaJaSaja on Jan 05, 2012 at 4:28 pm

      Bro..who is selling what land??

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    • normal_user on Jan 05, 2012 at 4:57 pm

      they’re not selling the whole plant. Its a JV shared equity, to raise some cash to proton. For every % of factory production un-utilized, Proton will keep on suffering lossess. Its better to have a partner in running the plant, and share the risk together.

      A good move for cash-strapped proton. Once the production is ramped up, they can buy the stake back from GM.

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    • Err…not to forget also our local car buyers’ years of painful sacrifices paying cut-throat taxes/duties to protect the ailing company.

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  • BigBANG on Jan 05, 2012 at 3:56 pm

    TAMAK la die ni!! Transnasional die da ambik, Park May pun dah. KTB x pernah untung pun.. ni nak proton plk.. BAM bwh die ap jadi?? Melayu2.. -_-

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  • confused on Jan 05, 2012 at 4:11 pm

    “If I buy Proton, I will cut it(Lotus) off, and probably retain a 20 to 30% stake,…..”

    DO IT!

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  • littlefire on Jan 05, 2012 at 4:20 pm

    Nice move to cut of that bloody lost making lotus…

    “How about the cash hungry subsidiary Group Lotus? “If I buy Proton, I will cut it off, and probably retain a 20 to 30% stake, which translates to a lot of savings every year.”

    http://www.themalaysianinsider.com/business/article/proton-better-off-without-lotus-say-investors/

    Read this hardcore supporters! When come to money, who going to invest something that always loss money?!? Even so many years of pumping our hard earn money from GLC! Thats our people’s money in Khazanah & EPF!!!

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    • tiadaid on Jan 05, 2012 at 6:13 pm

      Tell that to McDonald’s – their first venture outside America took 10 years to even break even.

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      • littlefire on Jan 06, 2012 at 8:54 am

        Hello, McDonald is not using our peoples money to buy off those debts, but share holders! Besides that in their own country, they have already earning a lot of money & not like us financially weak & always ask for loan or so call R&D fund from Khazanah/EPF which consists our hard-earn money!!!

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        • Wheeler on Jan 09, 2012 at 12:49 pm

          I think you shoud read economics and finance more.. selling and buying of shares too..

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    • kadajawi on Jan 05, 2012 at 6:28 pm

      Proton needs Lotus for their expertise in developing cars and for the image.

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  • Must be a joke. Proton needs a complete change in culture to become a global player. There are too many old people still in its management stuck in the dark ages with civil servant mentality from 80s. Nadzmi of all people has been part of it since the early days. What can he do differently now that he could not have done previously? Does not make sense. They are in a delusional world of their own. Not too sure about NAZA and DRB-Hicom either. Though they have strong manufacturing experience, they have no clue how to run it like a global brand against hard competition.

    Look at our neighbours Thailand and Indonesia. Thriving automotive industry benefitting their country and they don’t have a national car brand.

    The Koreans are the ones to watch. Not the Japanese. How Proton is going to compete against them I have no idea.

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    • camaro on Jan 06, 2012 at 12:27 am

      you have no idea bcoz you are not the chairman of proton!!

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    • Wheeler on Jan 09, 2012 at 2:23 pm

      bro, proton runs a totally different business model than perodua, drb-hicom, tan chong or naza. Easier say than done and dont simply talk. If proton ever needs someone capable, he should know proton very well.

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  • Sentinel Prime on Jan 05, 2012 at 4:28 pm

    Proton sell to Naza, Lotus sell to Tony Fernandes & Kamarudin. Happy ending. Khazanah out mean my and others fellows rakyat hard earn money & epf saved from wasting huge money like a freaking monster.
    Proton create hell for themselves for compete dumbest ever scene happened in F1 history. Team Lotus vs Group Lotus in high court and due to that caused consequences is back haunting themselves. Scare of own shadow is the best description here.

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  • Diablo on Jan 05, 2012 at 4:40 pm

    Isn’t this the same guy that believed the nation should spend billions on Bahar and Group Lotus. Now he says he wants to cut it off? On who’s plate will all this bill land on? Also it’s a lot of money to buy into Proton which he doesn’t have. He is using foreign financing and what do they know about global auto manufacturing? Why would they care? Say bye bye to Proton then. Anyone can design a pretty plan but very few can execute. What can he do differently now that he could not have done previously? He was part of Proton’s early days.

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    • rally_fan on Jan 05, 2012 at 7:00 pm

      diablo.. the chairman almost certainly doesn’t have the final say in all decisions made by Proton.

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      • BadBET on Jan 05, 2012 at 11:25 pm

        He join Edaran Otomobil Nasional Berhad as Manager in the Marketing Services Department in 1984, and later assumed the positions of Executive Director and Chief Executive Officer. In 1993 Dato’ Sri Nadzmi was appointed Managing Director of Perusahaan Otomobil Nasional Berhad, a post he held until 1996. <– cut from Proton Holding Berhad.

        LOL : he had so much time already to make good decision for Proton.

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  • muixmuix on Jan 05, 2012 at 4:52 pm

    this will be selling up all the assets and then selling back the company… ‘save malaysian brand…workers and so on.. ‘ just like what happened to MAS, making profit by selling assets.. than turn back to red

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  • normal_user on Jan 05, 2012 at 4:54 pm

    It would be better if DRB Hicom buys Proton, and then VW AG buys stake in DRB Hicom. Indirectly VW AG will own Proton.

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  • Highly unlikely that ONLY the chairman himself is going to forkout hundreds of millions…oh wait, billions to buy out PROTON. Heck, he might just be a proxy for other prominent businessmen, politicians, etc, to earn a quick buck (or ringgit for that matter) by divesting the various groups under PROTON Holdings (e.g. PROTON Tanjung Malim, Lotus Cars, Edar, etc), or simply to get easy business deals from PROTON. Either way, hope that whatever happens to PROTON from now on end will be for the best of the company with a higher level of transparency, governance and accountability.

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    • i dont seee how buying proton will earn anybody a quick bucks, unless if khazanah to sell the stake at a price below the value of asset and cash owned by proton, but will they do that?… thats suicide for current gov.

      anybody who buy proton, will have to fork money, and proton itself is not forking enough money to survive. selling all proton assets will not guarantee you can recoup the investment, unless you are really good at negotiation table, even so, that maybe just few millions more than billions of investment put in to get proton. worth to do that?

      anybody who buy proton, need to work their ass out in order to make money out of it.

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      • rally_fan on Jan 05, 2012 at 6:54 pm

        i tend to agree with you. if you buy it.. you’re going to have to restructure the heck out of it before it will look desireable enuf for someone else to wanna buy it off you so that you can make a healthy profit.. and selling it off bit by bit, although an option, will not be easy as well..

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      • thinkerr on Jan 06, 2012 at 11:08 am

        I totally agree with you on this. Nadzmi seems to have a sound biz plan and by selling Lotus we are actually stopping the haemorrhage, Lotus is just a big black hole that is sucking up our hard earned money. However he will meet with a lot of obstacles especially Dr.M. IMHO by going private a lot of unknown dealings will also not known by the public which could be bad if public funds are being used.

        It’s already 25+ years Proton is around..my only hope by doing this they will be more competitive.

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  • DewaSemut on Jan 05, 2012 at 5:11 pm

    The Adviser wants to sell it to DRB, the Chairman wants to buy it for himself, the MD wants who to buy Proton??

    Too much drama here… another hype again to jack up the market share so certain quarters can make money to fund the upcoming election????

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  • Though I laud his privatization plans, I cannot believe tat he’s (sounds familiar wit another ex-Proton fella) againts tie-ups wit other makes.

    I mean after d Gen2 n Savvy in-house designed platforms in d past, does he really think its possible to continue digging d parts bin n yet maintaining customers’ interest? Look around, even d big players r collaborating among each other in d chassis n engine department.

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  • BanyakMashukWang on Jan 05, 2012 at 5:27 pm

    He had got his chance before especially in 90s era. What did he do?? Did it Impressive?Now he wants the whole of it again and the initial interview revealed nothing impressive!

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  • Anak Malaysia on Jan 05, 2012 at 5:33 pm

    keluar mulut harimau, masuk mulut boyo… what a pity proton……..

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  • guys,

    the gov put up proton for sale, and this guy put forward his proposal to buy. so give him respect for that. for those who complaining proton this and that, this is your opportunity, prove you can do better, put your proposal and money, get proton and change it.

    for those who hated proton so much, this is also opportunity to buy the company and make it close shop the next day it is yours. maybe even can use this blog to raise the fund.

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  • he was very much part of the proton dna, don’t see how he can make any change to it by buying it for himself. unless he is just a trojan horse for somebody…then he will make tons of $$ when he sells it off later..

    he is also currently chairman of group lotus… and now he is saying he is keen to sell lotus off !

    wtf, shouldn’t all this be done quietly in their respective board rooms? surely there is non-disclosure etc etc..

    revealing details of his plans to the press??? have you got no respect for your stakeholders?

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  • syed armin on Jan 05, 2012 at 6:08 pm

    Nadzmi is just a nominee for the cronies in UMNO/TM.
    Looks like Proton will see a major asset stripping exercise
    similar to what Khazanah did to MAS when it sold off all their planes
    in order to clean up their books.
    With Nadzmi at the helm Proton will go down the drain
    cos when the gravy train stops Proton will be doomed !!
    He’s just an overpaid chairman who contributed nothing
    and now he has the guts to say that he has big plans for Proton.
    Good luck!!.

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  • The Drama started when Tun Mahathir pre-announced sale to DRB. Announcement should have been made by Shareholders, Khazanah and not by the Protons Adviser. Chairman Nadzmi is being funded by Tun Mahathir’s son who owns a very large VC firm. So when Khazanah announces sale to Chairman (who is proxy for Tun), Tun will say, “What can I do? It’s a decision of Khazanah, they are independent and we will have to respect the decision”.

    Proton has spent billions with Khazanah backing, it is now on the verge of making profits with new Global Car P3-21A and Global Small Car (GSC), the team believes that they are buying it cheap and will profit heavily.

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    • tokmoh on Jan 05, 2012 at 9:09 pm

      Seems legit.

      As long as it truly results in improvement to Proton, I think it’s fairly acceptable.

      Except that when it goes private… will Proton still have obligation to publish annual report to the public? How do we know then that their financials remain healthy?

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      • Wheeler on Jan 09, 2012 at 2:14 pm

        Tokmoh, you can still access an account of a company event thought it’s not publish. It’s a requirement of a public listed company to publish such statement.

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      • Wheeler on Jan 09, 2012 at 2:15 pm

        Tokmoh, you can still access an account of a company eventhough it’s not published. It’s a requirement of a public listed company to publish such statement.

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  • bob ma on Jan 05, 2012 at 7:22 pm

    how ironic to see everyone posting negative comments about proton and the govt, because I bet 80% of you guys are probably driving a proton!

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    • muixmuix on Jan 05, 2012 at 11:30 pm

      yup i’m driving proton… but this is not comments on proton but the MD himself..

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    • tokmoh on Jan 06, 2012 at 12:10 am

      It’s called stakeholder. We all pay tax, so we deserve to at least feel optimistic about what the govt do to ensure the country remains prosper.

      But if they make decisions that only benefit cronies, can we still feel optimistic? What if Proton falls into the wrong hands, to those who’re not interested to drive Proton to greater height, but just enjoy free trips and changing S-class every year? Then Proton back in red and need bailouts, whose money is used there? Money that can be used to improve road, public transport, correct income gap etc?

      What’s strange about driving a proton and criticising them? Isn’t that happening with football? Up until recently, we all bash how our football team is such a joke, but we are still Malaysians. So your logic is those who bash our football team are not Malaysians, and that only non-Malaysians reserve the right to criticise them? Non-Malaysians couldn’t give a fucuk about our team.

      I may be, to the knowledge of most people here, a Proton fan, thanks to me enjoying my Protons which are reliable and enjoyable to drive. But I still cringe if I feel Proton is not where I want it to be.

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    • Sentinel Prime on Jan 06, 2012 at 12:18 am

      Mesti drive “Lagi best” Myvi lah. takkan bodoh sampai pi beli Proton kah!

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  • maaajeeedaaa on Jan 05, 2012 at 8:38 pm

    whatever the end is all that matter is Proton must keep on upgrading their own product just like what they did with Exora BOLD CHEEEERS

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  • pacifictuna on Jan 05, 2012 at 9:09 pm

    he must have loved proton alot…. changing the mentality is a heck of work to accomplish. anyway, i believe there are still people around should he fires theose old hags. alot more capable people out here might be able to do it i guess.

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  • makeitmine on Jan 05, 2012 at 9:40 pm

    Forget about Nadzmi.. it is a defensive move in the boardroom. Whoever takes over Proton would probably not need him anymore.

    Cut off Group Lotus is like cutting off the future earnings of the best concept car of 2011, future collaboration/JV with GM/VW and whatever makes.

    For record sake, Group Lotus got a winning concept car, got omnivore engine technology needed by Saab/GM, got electric car technology needed by VW (helped Tesla and Chrysler) , etc.

    Nadzmi is careless and may not know that Group Lotus got better bargaining power when it comes to JV/collaboration with foreign entities. He should have commercialized Group Lotus to the fullest and JV with DRB-HiCOM to design/manufacture/sell engines for F1 and OEMs.

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  • Newyear on Jan 05, 2012 at 10:38 pm

    Just make sure it don’t become another “National Car-Lot Corporation” scandal

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    • Sentinel Prime on Jan 06, 2012 at 12:20 am

      This 1 harder a bits because Dictator is the company adviser. Dia pun lagi takut daripada orang awam.

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      • sean ZX10 on Jan 06, 2012 at 8:39 pm

        SETUJU!!! hahaha…dictator is the advisor…he’s the old hag

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  • mirror mirror on Jan 05, 2012 at 11:16 pm

    Sounds like the piper is calling you to join him again.

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  • What can Proton offer or do for Lotus?? It cant contribute any platform for
    lotus to build a sports car…nor its engine…imagine asking Lotus to build a world class sports car with Campro engine and Perdana or even Persona platform…with power wimdow problem…Lotus is bettee off without Proton…

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    • soundsfishy on Jan 06, 2012 at 11:12 am

      ha… x abis issue power window lagi…proton should start makin F1 cars.. so no more window problem

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  • 1Malaysia on Jan 05, 2012 at 11:47 pm

    If you are so good and smart, Proton won’t be a piece of shit like it is now. 2012 and still relying on government’s help to survive. Please compare Proton with Hyundai/Kia which started commercializing car sales at the same time.

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  • Tony Fernandes on Jan 05, 2012 at 11:52 pm

    Just give it to me!

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  • alfie60 on Jan 06, 2012 at 2:52 am

    28 million population in Malaysia and 25 years of Proton making shitty cars and its the same name that keep surfacing to buy it. Umno has about 3 million members are the 2,999,999 members RETARD that cannot be consider for the opportunity!!!!

    Its was Nadzmi early leadership as a CEO that screwed Proton DNA quality and that legacy is with us now and even now he sits on the Board, the shitty cars still cant sell globally.

    Our current CEO DSZ approach is just as stupid as Nadzmi. If Proton was a HOSPITAL what DZS is saying if we are his patients he will give us 10 years of free medications everyday. In the 1st place if he was a good doctor we wouldnt be sick everyday as we would be cured in a few visits. It not the free medicines that we want but the feeling of ‘feeling healthy’ is what we seek.

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  • I wonder what will happen if Proton sells Lotus. Would Proton have to pay licensing fees for all the Lotus techs it uses.

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  • rajaiskandarshah on Jan 06, 2012 at 9:56 am

    my personal opinion is that it is best that
    1. the present management be retained (that will definitely not happen if proton comes under drb) and
    2. that proton will have access to a much larger pool of money (none of the other suitors really have much money)

    In that respect, I would like to see the Proton sake be sold to PNB (who manages ASB, ASN, ASD, ASW, etc where ordinary Malaysians who drive Proton can invest). the PNB portfolio is able to raise RM2b in 1 hour. all PNB needs to do is monitor that Proton can give 10% dividends. PNB and ASB owns 51% stake in Maybank ( http://www.maybank.com/investor-relations/top-30-shareholders ), owns more than 51% stake in Sime Darby Group ( http://www.simedarby.com/Annual_Reports.aspx ) .

    In fact, the government should make it a policy that Khazanah should sell off it’s stake to the funds under PNB – at a discount. PNB funds is duit and hak rakyat. The same duit rakyat that Khazanah used to bail out these companies from the earlier group of individuals.

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  • Folks, I believe we are here because we are car lovers and we do concern about Proton because we are patriotic. And some of us might be running own business, hence know at lease the ABC of running a business.
    1) Nazmi has got 2 chances already in leading Proton, can we have other person please. Wise english man said, “it’s crazy doing same thing but hoping different result”.
    2) He puts out a rather conservative plan in order to save Proton, but as far as we see today, aggressive brands are winning sales eg. Hyundai/Kia, Audi, GM, and even Tata with their LRJ brands. For being conservative, even Toyota with thier bulletproof quality and reliability records couldnt stand.
    3) He says he will cut Lotus to save proton savings, while as a plc, they are reporting to the public (KLCI) Lotus turnaround plan is on track. So are they actually sweeping things under the carpet? If the plan is on track, why bother because you should have been allocating enough funds for the plan even before the plan was expedited!
    4) In todays JVs aspect, I think just take eg such as BMW/PSA-prince engine, BMW/Toyota- hybrid/diesel tech. By loosing Lotus, what Proton got to offer for the JV partner? New lifetime warranty power window tech or golf swinging managers?

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    • sawi cool on Jan 06, 2012 at 12:15 pm

      agree with you, sir.

      I hope for DSZ to stay, but this Chairman to stay out.

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    • Wheeler on Jan 09, 2012 at 12:39 pm

      if you must know nadzmi isnt new in business. Before that he’s an enterprenuer, and now still is. He’s crucial in dealing with Mitsubishi. Familiar with auto environment. He was in Syed Zainal’s shoes before. Who would have better hands at Proton than him? If this materialise it would be a turning point for proton, for good (or maybe worse) but bottom line is, proton should have long been running as a private company.

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  • soundsfishy on Jan 06, 2012 at 10:54 am

    somebody else should buy proton. Start all over from scratch… mew management, new engineers, new ideas. If needed change proton to other name. ‘new proton’ means new branding.. better quality. If i want to go back & buy proton car again, i don’t want it to b related to old proton..

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  • kamaji on Jan 06, 2012 at 1:55 pm

    Firstly it’s definately smell fishy here & secondly where the hell he got the money.

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  • About damn time someone with balls came out and stated that Lotus group has to go. That company has been leeching off us, courtesy of our money paid to ridiciously high taxes.

    I want this guy to be the new owner of Proton, and see Proton takes off in a whole new direction without any more subsidies from us Malaysians.

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