Proton’s Quarter 2 2006 financial results have just been posted on the Bursa Malaysia announcement page, and the figures are still in red. Losses before tax for Quarter 2 2006 is RM 240,480,000, compared to RM 161,785,000 in Quarter 2 2005. This brings the total losses for the first half of this year to RM 336,016,000, compared to RM 169,146,000 for the same half year period of 2005. Reasons for this loss was reported to be a sluggish and competitive market which resulted in a lower sales volume. The market has certainly been sluggish, with October 2006 sales dropping by a huge 37 percent as compared to the same time period last year!
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Source: BTimes, Bursa Malaysia
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AI-generated Summary ✨
The comments express strong negative sentiments towards Proton's financial struggles, poor quality, and management, with many wishing it would shut down to benefit consumers through better imported car options. Several blame government policies, NAP, and corruption for Proton's decline, emphasizing the economic impact on Malaysians. A few comments mention the need for healthier competition, but overall, respondents are dissatisfied with Proton's performance, fearing ongoing losses will harm both the industry and consumers.