Oriental Hyundai, the distributor of Hyundai’s CKD Accent, Elantra and Sonata models in Malaysia has launched a new hatchback Hyundai Accent today. Click here to read the rest of New Hyundai Accent 5-door Hatchback
Click here to read the rest of Sime Darby’s NAP plans
Sime Darby is determined to take full advantage of the incentives the government has given in the new National Automotive Policy. The National Automotive Policy’s new incentives encourages foreign automakers to assemble their vehicles here in Malaysias, thus turning Malaysia into an automotive assembly and distribution hub for the ASEAN region.
StarBiz reports Proton shares have dropped from RM8.35 to RM7.90, making it the second highest loser on the Bursa Malaysia yesterday.
Traders was worried by the announcement that Proton was interested in buying two Volkswagen platforms to rush out the production of 2 new cars to curb falling sales. They said it made no sense for Proton to buy the platforms since they were heading for a technical collaboration or stake transfer in the first place. This implicated the collaboration might not happen.
HLG Research has flagged Proton shares as buy, as these shares are expected to soar up later if any announcement / further development of an alliance with Volkswagen AG.
HLG analysts also believe that the Q1 loss is partly caused by MV Augusta, which is expected to turn around only in 2007. The report also said Proton also carried 30,000 cars in stocks (these are the ones you see in photos of Proton stockyards) which would affect earnings if not cleared by year-end.
Looks like we consumers will not be affected much by the adjustments in the way fuel is sold with credit cards at petrol stations.
Banks have agreed to reduce the charge imposed on credit card transactions at petrol stations by 0.3 percent to 0.95 percent. It was previously 1.25 percent. Petrol companies have also agreed to increase commission of 6.17 sen per 1 litre of petrol to 6.66 sen. Commission for diesel will go up from 2.05 sen to 2.44 sen per litre.
However, banks will stop giving bonus points to petrol purchase transactions for their credit card customer loyalty programs to offset the loss in revenue with the 0.3 percent cut in transaction charge.
The bottom line: Prices remain same for petrol purchase using credit cards, but you won’t get credit card reward points for them (this does not mean Bonuslink and Real Rewards).
Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal announced that motorists purchasing petrol at stations with a credit card would have to pay more for their petrol. He said a new formula was being devised to balance out the credit card charges currently being born by the petrol stations.
Let’s hope it’s nothing more than the 1.25% commission charged by banks. In fact since the costs should be shared by the motorist and the station, it should be exactly half of that. It would be a blatant and obvious rip off if it wasn’t.
The new formula will be announced later today.
Update: formula announced!
Proton R3 Amprex’s Lotus Exige 300RR almost achieved victory in the G2 category of the Zhuhai FIA GT championship, but due to a fuel leak problem they lost the title to Belgian Racing.
The teams were close, but the Exige 300RR had fuel leak problems that forced the car to enter the pits four times instead of only one time as planned, according to Tengku Djan Ley. Oh well boys, better luck next time.
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Proton R3 Amprex to race at Zhuhai, China
The Edge reports that Proton is looking into purchasing two Volkswagen platforms to produce it’s own versions for the local market under the Proton badge. After the purchase, design and development would take an additional year.
Click here to read the rest of Proton to buy Passat and Sharan platforms
Volkswagen Sharan
There are rumours going around that Bernama has issued a news flash informing the public that Monday October 24 2005 is a public holiday.
If you receive this rumour, please do not spread it further. Monday is not a public holiday. Bernama is lodging a police report in order to get down to looking who started the rumour.
Click here to read the rest of Proton needs to update cars more frequentlyAnother MP has spoken up on the issue of Proton. Deputy Minister of International Trade and Industry Datuk Ahmad Husni Hanadzlah said that Proton has to update it’s models more frequently as with accelerated product releases by other manufacturers these days, their products go out of fashion more quickly.
