Deputy Prime Minister Najib Razak said today that Malaysia’s diesel will be blended with 5% palm oil before it is sold to consumers. This is part of a new fuel policy to be announced soon. Click here to read the rest of Malaysian Diesel to be blended with Palm Oil soon
The government has lifted the 8 year ban on Air Pollutant Index figures today. Click here to read the rest of Kuala Lumpur Air Pollutant Index
Three top Proton executives have quit. The executives are head of group finance Tan Seng Lee, head of internal audit, Colin Low, and head of public relations, Fauziyah Abu Hassan. Click here to read the rest of Proton Loses Top Executives
Proton Holdings Bhd might be spending another RM40 million ringgit to build another plant near it’s existing Shah Alam plant. The new plant is intended to be used as the main base for manufacturing Volkswagen’s cars.
It’s existing Shah Alam facility has a manufacturing output capacity of 230,000 cars a year while it’s Proton City in Tanjung Malim can make a million cars a year.
Does anyone know the current output of the current plants? Do they really need another one?
Source: The Malay Mail
Rafidah is supposed to explain all the controversial issues regarding the AP system today. I don’t think she can skip the meeting again.
Among matters to be explained are what are the criteria of giving out APs, and why are there as many as 6 types of APS:
Will we see another advertisement for no more tears shampoo?
Khairuddin Mohd Khir received about 10 APs a month in the 1980s but failed to secure any over the past 15 years. Click here to read the rest of Bumi Trader reveals loophole in AP system
Proton’s talks with Volkswagen are still on-going while analysts ponder over the possible outcomes.
The Government will not give up the 42.7% stake that it has in Proton through it’s investment arm Khazanah Nasional Bhd. So where will the shares that Volkswagen will buy come from? Click here to read the rest of Proton-Volkswagen Talks Continue
Proton seems to be a hot item right now. News is that Volkswagen now wants 50% plus 1 share stake in Proton Holdings Bhd, and wants management control. This would make it the majority shareholder of Proton if the deal goes through. Khazanah Nasional owns 42.7% of Proton and is the current majority stakeholder.
Volkswagen is not the only car manufacturer with eyes on Proton. It’s reported that Hyundai is also interested in using Proton assembly plants, but details are still sketchy at the moment.
My oh my. This is getting interesting. First 30% was too much, even sparking calls for public debate. Now it’s 50% plus 1 share. This deal could cost Volkswagen AG roughly 2.75 billion ringgit for 50%+1 shares at RM10 per share if everything goes through.
Rafidah says she is too hurt to reply. But the cabinet wants to hear her side of the story. The ball is in her court. Datuk Seri Najib Tun Razak says she might be asked to respond in one of the Cabinet’s weekly meetings.
Tun Dr. Mahathir is reported to be very “sad”, “disappointed”, and “frustrated” over the issue. Click here to read the rest of More AP Updates
Fuel prices went up again, effected 12:00AM 31st July 2005. Petrol is up 10 cents, diesel up 20 cents and Liquified Petroleum Gas is up 5 cents. Click here to read the rest of Fuel prices are UP again
