DRB-Hicom recently posted its results for the financial year ending March 31, 2016, and it isn’t good news for the group, which registered net losses amounting to RM991.9 million. According to a report by The Star, the lacklustre result is largely because of Proton’s poor performance.
“The losses were attributed largely to the poor performance of Proton’s group with lower sales of motor vehicles amidst stiff competition, volatility in foreign exchange rates and weak consumer sentiment.
“The weak foreign exchange affected Proton’s raw material cost, the lack of new models during the financial period and reduced profit margins. In addition, Proton made provisions relating to certain non-recurring charges which had affected its bottom-line,” stated DRB-Hicom, adding that if the national carmaker’s results were excluded, the group’s performance was “commendable.”
Despite the unfavourable results, DRB-Hicom is remaining positive and confident in Proton’s turnaround plans, which also involves a RM1.5 billion soft loan from the Government. This includes the launch of new models, beginning with the new Proton Perdana, and followed by either the new Persona or Saga. Proton is also set to introduce a new model made in collaboration with Suzuki by the end of this year, which is highly rumoured to be based on the Ertiga MPV.
Additionally, Proton will also have to provide a strategic plan to expand its domestic and international markets, and a special task force led by Pemandu CEO Datuk Seri Idris Jala will overlook Proton’s transformation plan.
This same time last year, DRB-Hicom was in the green, with a RM300.19 million profit. Revenue during FY2015 totalled RM13.68 billion, with a pre-tax profit of RM501.83 million. Meanwhile, FY2016 results saw revenue dip by 11% to RM12.17 billion, where the company incurred pre-tax losses of RM821.27 million.
Looking to sell your car? Sell it with Carro.
Still want to deny the fact that Proton is not a failed company by some Ministers.
Confirm by Proton management new Perdana will be launch coming this week…
Order from me to get extra discount up to RM5k top spec Perdana !
Work hard and buy actual original Accord.
Proton adalah syarikat kereta paling tahi di sejarah dunia. Proton staff yg malas tiap2 hari hanya tau makan, tidur dan sembah kerajaan untuk gaji dari RM1.5B. Proton patut dinamakan Pro-Tun
Before launch already get RM5k discount. They have a huge margin on each car. Wait till year end you might get RM20k discount. Wait till next year end you might get this year stock for RM65k.
Might as well sell Proton to a China company. They probably got the brains to fix Proton up.
Might as well do that since we are already selling Petronas assets to the Russians.
Support! Support! Support!
Told you no one want to spend money to buy a junk home.
Everything proton touches, it lost money.
WHO CARES???? who cares about Perdana and rest? do you think ppl are stupid to buy that ugly old tech car based on old Honda car ? designed by the Fiber shop in Kepong??? RM1Billion Loss is a show how incompetent DRB-Proton Mis managers are… I am very upset on this matter.
Sell it off to China company!
Chinese company will not be easily fooled into buying Proton, actually they won’t evem touch it with a barch pole. Business are meant to MAKE money not the other way round. Proton was destined to be a failure due to the way it was ran. If Toyota was managed by Proton management it will also fail. Excise duty protection or not.
Barch pole tu apa? Orang Poland?
The RM991.9 loss is just a played down figure. As we know in Malaysia, if 1MDB and BNM can “modify” documents and do a lot of cover ups, it is quite easy for DRB also to do the same.
I would estimate, the real losses to be double or triple that. Rm991.9 million losses is for the public to know. We know it is much higher.
Proton as a company is losing millions PER Day. Imagine, not per month, not per year but PER Day.
How can the tax payer sustain a company that is losing millions PER DAY?
Proton is not a sincere company. They take our Rm1.5 billion but they never cut cost.
See the Board of Directors, have they taken a pay cut? not even one sen pay cut. In overseas, if your company is doing badly, BOD will volunteer a pay cut themselves.
In Malaysia, the DRB staff have all become BOD. Their gaji still the same. Still 6 figures per month (not per year)
Still got fancy company cars and still got drivers.
Bertaubatlah Proton. You ask money, but you yourself also need to cut cost
Better let the Proton supporters ‘support’ this sinking ship by ‘donation’
Who care? Do you think your beloved Najib cares?
Money not enough just increase GST lar.
As I always said:
Proton won’t fall before government fall
Government won’t fall before you and I fall
Easier to cure cancer than fixing Proton.
Proton 6S principles:
1. Sendiri Cakap
2. Sendiri Syok
3. Sentiasa Rosak
4. Sales 365 days
5. Siapa pun taknak
6. Soft loan mari mari
Nak launch perdana pn lembab lagi xfail
How they do business? Don’t they have control on their business? So much for a company that brags about VSC. Sendiri punya business no stability, no control.
Posts, net, loss. Nevermind, as long as still got racquets and shuttlecock, can play badminton.
lol beribu ribu tahniah….1mdb, and this….malaysians sure are a patience lot
Hidup segan mati tak mahu.
On the contrary Perodua making half billion profits last year and counting more.
Will reach 2.6b soon.
Buy 1 free 1 soon. Still got 2014 old stock cars! Wakakaka
Haha. Padan muka.
Whoever touch proton is doomed, be it consumer or invester.
Dare you touch proton?
Memang padan muka. Bullying rakyat make car price expensive for 30 years and now their turn to suffer big black hole losses.
After China company takeover we rakyat will take 1 month annual leave to celebrate it like Merdeka day nonstop party dancing drinking hoorrayyy!!!
Orang pakai kancil belagak mcm pakai ferrari
I used drive a kancil years ago during student. Not bad indeed, better than proton tiara and sawi. Not afford ferrari yet due to heavy tax by gov,thanks to proton.
Basherz.. 1, 2, 3… go!
Slowpoke
Once upon a time “Proton recovery should be on track with RM1.5b loan” but now still..
Money is not a magic to recovery proton so drastically..
If only Proton listens to the consumers on how ugly the new persona and new saga are, I doubt that “turn around” would ever happen.
But MITI minister say Proton not a failed company ???
Soft loan is not a bailout.
It is free money
How can it be free. Its a loan.
For Proton, loan is bailout aka no need to return the rakyat’s money
Proton success to get money from the Gov you say is failed?
So true, successful company by “begging money from G(tax payers money)”.
Wow! almost a billion RM in losses.
Proton sudah tidak kompetitif, dah lama tunggu Perdanajib tapi tak launch lagi. Lembab!
Already June, where is Perdana? Late launch again.
Persona 2 and Saga 3? Will they?
By the way, new GDI and TGDI, don’t you delay! Please!
almost 1bil loss?
i thought when drb took over proton, finally we would see change.
progress is slow too under drb. enough teasing just launch new models already.
Proton`s fanboys mari baca. Aku dah malas nk ckp. The fact speaks for itself. Tutup ajelah. Sibuk nk selamatkn proton, nanti tak lama lg dgn drb-hicom sekali lingkup.
WTFFF lost almost 1bil? With coming perdana and the existing kecik miao cars, seriously i don’t think proton can break even in 10yrs with 1.5bil soft loan plus previous losses. Proton should consider gulung tikar to stop rakyat bleeding more.
Clearly. 1.5bil soft loan could only last Proton for 1yr.
So Proton basically need to come out MyVi killer, Axia killer, Alza killer and very soon perodua sedan killer?
Wow Perdana looks handsome
If any of PT readers here want DRB to close Proton, please click Like and when the total Likes reach 1.2 million, I will submit it to our SPBYDP Agong to officially close the Proton. Thank you
U need to post this under official web petition 4 all 2 C & go 4 close down proposal
This is good. Good, we don’t buy and support Protons. They deserve to die and bungkus.
WHERE IS THE NEW MODEL? IT HAS ALREADY SECOND HALF! COME ON PROTON!
Oh yea.. but you see cars are very competitive.. its difficult.. a country like ours.. no history in car-making.. we are trying our best.. we need support.. from government.. from the rakyat.. even if we make mistakes, you must buy our cars.. we need to employ all these people.. foreign cars compete with us.. how we can compete.. yada yada bla bla
Tata Motors: Record Jaguar Land Rover sales: Tata Tiago newly-launched to precise customer needs: HUH?
Syukur.. akhirnya.. Proton mati juga… Yesssssssssss
long live perodua
Give Mat Salleh manage just like MAS or just close permanently.
Later mat salleh beh tahan politics, will suddenly resign for “personal reason”.
Sell to China is best option, sell to Geely and truly become Volvo of Asia.
see how cronies win in the whole 1.5B deal…whole 1.5B whippoff instantly…
Proton should sold off to foreign investment..(else we see the stupid 1 Euro motorbike deal turn into millions for others again)..
Incapable business owners should not be given this kind of business responsibilities..thats the problem with us judging by color instead of capability..from condo cows, to many others..
I dont feel bad for u p1….i found alot of excuses for u last time to convince myself that u will be alright…. Bt reality is a bitch.. U r on ur own… We all had enough despair… Please PSA/VW/7-11/Lego/nescafe and whoever want to buy p1, buy it now n get us out of our long misery!
Well time ⌚ to upgrade exora to 8-seater and compete with innova with 1.5 TGDI engine end of next year. Plus ➕ preve facelift with 1.5 TGDI as well. 2018, proton A segment compact + new saga based on the new compact and a pick up ⬆. 2019, SUV and compact MPV.
Game changer coming, don’t worry ( ͡° ͜ʖ ͡°)
Before coming already game over.
Better close shop la…
Hehehe…
Proton is sickness and cureness lies merge with Japanese automakers completely IF it’s willing to takeover this sickness.
So quiet?
Berape kali mahu trasfomation plan la labu samdo , lagi baik tutup kedai membazir wang rakyak.
Athough I am not a fan of Proton, it is unfair to blame Proton for DRB’s losses. This looks like a total lie.
Proton has been under DRB for much much longer than this financial year for DRB. If last financial year DRB made money, how come suddenly with ajaib, DRB is losing money?
DRB is losing money because it is a mismanaged company and not because of Proton.
We all know that DRB took over Proton as a Trojan Horse to get more money from the Government. That was DRB’s main intention when they took over Proton, knowing it is a good cash cow bargainng chip to be used for asking the Government money after money. The RM1.5 billion FREE money is an example.
Infact, the RM1.5 billion soft loan is just one example we the rakyat know about. Long before the RM1.5 billion, whilst still a DRB company, Proton did receive hundreds of millions in research grants from the Government the past few years.
It is a disgrace now DRB now blaming Proton for its financial woes. This begs another question, the past few years, Proton being under private hands of DRB, how come they were still getting money from the Government? Our money. DRB should bear the burden of owning Proton and not be sucking money from the Malaysian Government. I refer to the many instances of Proton getting money from the Malaysian Government and not just the recent RM1.5 billion.
It looks like Proton will be used by DRB to milk the Government for more money in the future once the RM1.5 billion is finished. It is unfair to the rakyat because DRB owner is Syed Mokhtar and he is Top 5 richest man in the country. He should be funding Proton directly from his pocket. After all Syed Mokhtar gets all the juicy contracts and he owns practically everything. He even owns Bernas which decides how much we pay for our rice! He also owns Puspakom which charges a hefty fee even for brand new cars coming out from factories needing Puspakom approval.
The CEO and Directors of DRB hicom should resign if the company has suffered losses. Let’s just assume that what they say is true. Proton is the cause of their losses this year. The BOD should resign because, they made a bad decision to buy Proton, a loss making entity. Being a listed company, they are answerable to their shareholders why they bought a loss making company like Proton in the first place.
Proton should either close down or the Government should have re-nationalised Proton and made it directly under the Government (though loss making) instead of doing a charade to fool the rakyat that DRB, a private entity has SAVED Proton and is on recovery.
After all, it is our money that is being used to bail Proton out.
In the end better write off that 1.5 billion loan as donation.
Well Said…Mr Kinte..
Yes. A lot of people missed that. Group revenue fell from 13.6B to 11B . That’s your problem there.
If these anyone to blame, blame the PM for killing the economy.
best comment of the year!
Now Proton 3 years already under DRB Hicom.
One of the main cause of this mess is because they’re lack of creativity and innovation. The perdana is supposed to launch months ago, and it is still delayed again. The perdana should be the pinnacle of innovation for Proton, and they seemed to be useless at this point. Competitors are moving fast, but its a shame that Proton cannot “up” their game. Not a national pride anymore.
Lembab launch haih…
DRB Honda, Tata, VW & Isuzu are still making money..
Lack of new model? That is why la.. car companies make facelift. Japanese car makers for instance make facelift 2-3 years. Before all new model is launched. Look at vios, civic, city
Iswara lasted for 10 years before got new face.
Preve is 4 years now. Facelift process doesn’t cost that much like development of a new car. Maybe 1/20. Do it lazy engineers and managers.
This company are either way to new, and/or too poor in quality to be worthy of attention. Car resale value is intensely questionable. No future, not going anywhere… 30 years of lab rat in ICU sucking lives from their own citizen.. sad & pathetic.. Pls pull the plug for the sake of entire population!
also due to certain crooks ‘janji dicapati’..
Why am I not surprised?
Don’t worry, with the power of tongkat, new perdana will boost proton sale. all the kementerian, askar, polis, bomba, uitm, perbadanan will buy new perdana. this is just a temporary. with the power of tongkat look no further to proton products.
Proton, you will never be an international car company. No way. You will only be loved by radical fanatics.
Keep teasin Perdana lor.
Soon you will see it sold to China company. Mark my words.
I suggest proton to be the ASEAN car. Get several companies from thai, Indonesia to combine capital. Then recruit engineers and designers from ASEAN countries as well, work in proton r&d centre.
Because ASEAN is one big market. About 1 bolliont population.
Stupidity: Keep repeating same thing and hoping for different results.
Why not? It’s already happened to 1MDB assets, Proton should be sold to Geely.
Imagine getting access to CMA, Drive-E powertrain, rebadge S/V40 hnnnnnggggghhhhh
Do it do it do iiiiiiiit
There you go,all the couldn’t careless Proton fanboys.
If u understand basic accounting,DRB as a group lost close to a Billion Rm,mainly due to Proton.
Perhaps,Honda sales contributed rm 500 juta.
So actually,Protong could have lost close to rm 1.5 Billion.
In other words,public tax funds have been channeled to bailout a BADLY RUN AND FAILED PRIVATE ENTITY in the name of a soft loan.
There is no such thing as a SOFT LOAN.
Either you pay or your company becomes bankrupt.
So Proton is actually INSOLVENT AND BANKRUPT.
Now,lots of businesses are about to fail.Why don’t banks/gomen give SOFT loans?
Some people jump to their death due to mounting debts,why no SOFT LOANS?
PERODUA is going to launch Toyota powered VVTi sedan cars next month.
DRB,tell your SOFT LOAN victims….where are the Hondanas,Sagas and personas facelifts?
Paultan will also be scratching his head what is happening to p1.
I reckon,the Rakyat will have to wake up next year again to news that the MUS have dished out another SOFT LOAN,another 1.5 B again.
There will be no end to this fiasco called SOFT LOAN.
A BAILOUT IS A BAILOUT.No amount of Roti jala monitoring will help.
Just purely shambolic.
Other car brands under drb is also not making money. Suzuki now ex, mahindra and Modena’s.
MR.Ex VGM staff,
DRB is under MMC.
The double tracking is almost 14 Billion RM
Now the mega MRT sg Buloh to kajang line is going on AT a feverish pace.How many Billion?
MMc is laughing its way to the bank.
Its grandson is Proton…..you love your bladdy taxes feed these morons?
By right,the Proton suppliers should get a guarantee from MMC or DRB,not taxpayer’s SOFT LOAN,AS BAILOUT.
REMEMBER,GEORGE TAN swindle Bank Bumi until it collapse?
Also Bailout,not once but twice.
You must be damn happy that your taxes can rescue a sinking ship called Proton.
Other than the fact that both companies are well known crony companies, there is no link as claimed between MMC and DRB. So Albert, please check your facts, and “thumbs-uppers”, be a little more diligent with those clicks please.
Holy shit net losses almost 1 billionzzzz
Congrats DRB. Well done indeed.
Sack the designer!
Convert the Suprima to a crossover. Hopefully it will sell.
Just half the price of all Proton new models, confirm sales will overtake Perodua. Reap the benefits from servicing.
Wat do u expect, same mamagers, same marketing team, same designers, same ceo, so sure same result year after year
Rubbish product will have rubbish ending.
This is the law of the nature.
You can pump billions into the company, wipe out their debts, subsidized everything, rebrand whatever cars you want, but it’s pointless if you cant remove the tongkat mentality from its people which I believe is the core to the success of every company.
Put rent seeking uncompetent idiots to lead the company for 30 plus years, this is the ending you get. As a matter of fact, all businesses feeding on cronyism and government protection will eventually wail off because it’s not a sustainable model. At the end of the day, We, as Malaysians can’t help but to laugh at your misery.
Wondering what is the current value of Proton Shah Alam’s 250 Acre land….won’t be surprised if ended up in the hand of PRC lol.
Worth at least RM2.6 billion.
I hope they don’t sell chickens
DRB=Dah Rugi Besar
padan muka kau ahmad khamil dan syed mokhtar
kau tindas dan pecat pekerja yang baik2 sesuka hati
sekarang karma yang tak boleh diundurkan lagi
deftech pun dah nak telungkup
Proton is the automotive Disease to Malaysians and the rest of the world. Should be DEAD AF by now honestly.
The Ultimate disgrace to the Worldwide car industry and the creation of the automobile.
Terhegeh2 nak launch perdana
WHERE IS JOHN AND DONKEY KONG ? and lots of P1 fanboys?
No fun without them here protek protek Proton lah. Skrg Maruah Proton tercalar kot, cepat mari protek Proton !
A lots of “logic john” except the
1.”BN john”
2.kancil hybrid
3.Operation Manager
4.kai
7.TGDI
Haven’t seen above mentioned approach defend “Potong” …yet
When BN john saw this article, he straight went back to his shell. Isn’t it right, john?
Proton is the world’s 1st car manufacturer that losses money every year and suck the govt’s money (read rakyat’s money) to survive.
I am not surprised at all with such big losses, as all the staffs (top to bottom) are having “nasi lemak attitude”.
The worst karma awaits Proton staffs….
BTW Proton…..Your copy-cat Perdana will be the 1st car in the world that is a failure even before it is even launched. Congrats!!
Slogan for Perdana advert “Pinacle of Failure”
Proton can’t even be successful selling karipap at roadside…much less selling car.
Baik tutup jer Proton. Buang duit, buang masa and buat dosa….
Just sucicide la you useless company.
How come suddenly all proton fan boys become quiet?
I thought they are very proud of proton?
Come out can defend proton la
Bodohnya P1, should raise the tax on foreign cars so that people buy Proton mah
U r born yesterday???!!!!
Actually, I don’t understand why DRB cannot turn PROTON around after 3 years since they are doing very well with HONDA? They should implement the type of management and efficiency from HONDA into PROTON.
Japanese culture =/= Nasi Lemak culture
This doesn’t looks to hv business case at all