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
The piece of news was about something else, but I noticed something strange… Click here to read the rest of No Lotus Involvement in Proton New Engine?
I remember the previous Focus was launched back in 1999. It won a grand total of 78 automotive awards and was brought into Malaysia by Ford Malaysia in CBU form. I first saw the hot hatch outside my secondary school and it was serious drool material. Looked really good. Click here to read the rest of Ford Malaysia to launch new Ford Focus
Volkswagen and Proton are still in talks and it could end up with Volkswagen AG buying as much as 30% stake in Proton, or nothing at all.
Volkswagen and Khazanah Nasional officials met at the Proton Holdings Bhd HQ yesterday to discuss the matter.
Proton officials said that if there is no decision within a few days talk would be called off.
The deal is said to be involve MYR1.65 billion exchanging hands if it goes through. That translates to about RM10 per share. Proton shares were worth RM9.25 on the market on Thursday.
It’s said that the terms of the sale will involve Volkswagen AG gaining management control of the company.
Foreign CEO anyone?
Source: The Star, Yahoo News
Jeff Ooi blogged today with pictures of the two AP King’s homes. Click here to read the rest of An AP King’s Home
The government says that the number of Franchise APs given to recipients are only as much as car makes of the car franchise they can sell. Click here to read the rest of Kleemann APs
The 2004 AP list is out. Khairy says he did not get any APs. Someone connected to Rafidah is pissed off. The government denies the Naza Ria was given national car status. Click here to read the rest of The 2004 AP List
