Volkswagen presented this concept vehicle called the Volkswagen GX3 at the Los Angeles Motor Show. It was developed by the Moonraker Team and VWs Design Center in California. The result is something that looks like a cross between a car and a motorcycle. Click here to read the rest of Volkswagen GX3 Concept
Looks like even though a draft response had been written, Proton will not be doing any additional explanation regarding the sale of MV Agusta to Gevi SpA to the public as requested by the joint letter by Tun Dr. M and Tengku Mahaleel.
Proton says all the necessary details had already been provided in it’s announcement to Bursa Malaysia, therefore Proton will not be making any additional statements on the matter despite the request by the TM duo.
Looks like there will not be any additional drama for the time being until the next salvo is shot by the TM duo.
Abt Sportsline GmbH is a German tuning house which tunes cars mainly from the Volkswagen Group – Volkswagen, Audi, Skoda, Lamborghini and Seat. This is their latest rendition of the Volkswagen Golf GTI. Let’s have a look at the Abt Sportsline Volkswagen Golf GTI VS4-R. Click here to read the rest of Abt Volkswagen Golf GTI VS4-R
Proton’s management has prepared a draft response to the joint letter by Tengku Tan Sri Mahaleel Ariff (ex-CEO of Proton) and Tun Dr. Mahathir Mohamed questioning the rationale of the sale of Proton’s 57.75% stake in MV Agusta for 1 Euro (RM4.50).
The response has been forwarded to the board for approval, but Proton head of group corporate communications Yusri Yusuf did not say if Proton would issue the statement today.
This is a pretty cool Modulo bodykit concept for the Honda Civic Hybrid. I’m falling in love with the 2006 Honda Civic more and more. Probably because it’s such a big improvement over the previous generation Civic with the strange back lights. The EK and EG were real sexy too. But let’s not talk about that. Let’s have a look at this Civic Hybrid Modulo Concept Click here to read the rest of Honda Civic Hybrid Modulo Concept
This press release was forwarded to me not too long ago. It’s a joint release letter by Tun Dr. M and Tengku Mahaleel on the matter of Proton’s sale of MV Agusta.
Among questions asked are who made the decision to sell MV Agusta, and why was an entity bought at a price of 70 million Euros sold at such a low price of 1 Euro, when even though MV Agusta was making a loss, the 3 brands it carried (M.V. Agusta, Cagiva and Husqvarna) held a high value.
You should find this interesting. Click here to read the rest of Joint letter by Tun Dr. M and Tengku Mahaleel
Supposedly in the filming of the blockbuster movie King Kong, Volkswagen Touaregs were used to ferry around the film crew. In commemoration of this, Volkswagen has released a limited run of vehicles called the Volkswagen Touareg Kong. Click here to read the rest of Volkswagen Touareg Kong
Mail Money reports that sources have indicated petrol diesel prices might be raised as much as 20 sen and 10 sen a liter respectively next month, which is only 1 day away!
Currently RON97 petrol goes for about RM1.62 a litre, so after the increase it should be about RM1.82 a litre. My Satria’s (RIP -_-”) full tank should cost about RM81.90 to fill up if the price increases.
The increase if put into effect would save the government RM1 billion in subsidies.
Volkswagen and Proton tie-up talks have made some progress, after a meeting between Proton Holdings Bhd and Volkswagen AG in Bangkok recently.
Apparently Volkswagen has dropped it’s insistence to have a controlling stake in Proton, and details of the proposed partnership has been revised. The issue of the controlling stake has been a main stumbling block in the talks so far. But Proton officials has not confirmed this matter.
Bernama also reports Proton is exploring multi-party strategy involving relationships with General Motors and Mitsubishi.
In other news, Proton shares went up 15 sen to RM6.30 after the announcement of it’s MV Agusta share disposal. Mayban Research has set a target price and fair value of RM7 for Proton shares. Shares should go up again after this tie-up progress announcement.
Proton Holdings has sold it’s 57.57 percent stake in MV Agusta Spa to an Italian company Gevi Spa. Gevi Spa will assume MV Agusta’s debts and working capital requirements totalling 139.44 million euros, as announced today to Bursa Malaysia by Proton Holdings as part of it’s non-core asset divesting exercise.
Interesting to note that Proton originally acquired MV Agusta Spa last year on July 7 2004 for 70 million Euro, and finally sold it for a token sum of 1 Euro (RM4.48).
