Proton Holdings Bhd may post a second quarter loss of RM700 million due to MV Agusta, it’s unprofitable motorcycle unit. It previously posted a first quarter loss of RM 12.4 million, and attributed those to increased allowance for bad debts.
An industry source mentioned the red ink from MV Agusta’s books has spread to Proton’s. Proton will likely have to make some hard decisions involving cutting losses, and dumping MV Agusta.
A report by the Malay Mail last week had already given us some hints on this loss cutting exercise.
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Another poor investment decision, but classic Malaysia scenario, will swept under carpet, I bet you the BOD won't be removed.
I dont get it.. why would they wanna put their hand in the jar of a motorcycle company in the first place?
Dont they have a better place to put their money… like developing new cars?
why on earth did they bought the company in the first place..? still struggling to make a perfect car but thinking of making bikes as well..
Why Take the shit to PUT on your Body (Cantonese say LAR SI SIONG SAN)?
I couldn't understanding why POTONG bought MV, what can MV support POTONG? Apparently, there is only BUYER mis-buy and never SELLER mis-sell the goods. Good profit making company will never sell you cheap lah kawan!! Do you think TOYOTA, NISSAN, ……..all the BIG boss brainless one arr??
The most interesting part now is how to recover, SELL off MV now price should be very low ….maybe no buyer, KEEP it …..it will drag POTONG into the BLACK HOLE….infinity!!
YAU MOU GAU….CHOR!! Who decide to buy this, F**KING MORON!!
poor thing huh,.. :(
YAY!!! another new thread for Proton Bashing!!!!
All who wants to bash Proton please put a temporary [PBâ„¢] beside their name to identify as Proton Bashersâ„¢, together we join in this fest!!!
Happy Bashing…!!!
isn't even a surprise. but i seriously hope they do better next year, sales of savvy seems tob e picking up.
KY arr!!
I think is not the local sales issue. Savvy sales up or down doesn't really impact the loses. The biggest problems now for POTONG is HOW TO clean the shit which they had put it on (shit means MV and Lotus) long time ago.
Local ppl can support POTONG, like buying savvy or Gen2 but we still cannot support the lost from MV and Lotus!!?? Don't you agreed?
YAU MOU GAU…CHOR!!! I'm not POTONG Basher lah! I'm talking about FACTS! :P
sell the MV agusta to cut loss……..
HAih… another stupid decision. I saw from the news, now Proton is having a big project called the Proton City costing millions. What are all these for….?? My oversea friends says we Malaysian( to be accurate the G) are very rich. Gamble the money unwisely…. poor malaysian. Now have problem with MV, later the another problem with the bicycle…. never ending story
I say do not sell MV AGUSTA. Appoint a very strong leader to guide the group. Business is like that, sometime you need to give more, so that in the future you will get more. Probably Proton needs to look into collaboration with i.e Petronas, so that they can both benefit. With Petronas strong connection with Foggy, Proton can get the exposure that hopefully will help re-establish the MV Agusta brand. I 've got a funny feeling, that if they cut loose MV now, than will regret it in the very near future. To establish a brand is not easy. It takes years not months.
RM700M is a huge jump from the previous RM12.4M. MV Agusta being bought by Proton was another 'good' move by the ex-CEO. Fortunately, the report posted by Paul says "…may post a second quarter loss of RM700 million", and the key word here is 'MAY'. Until it is confirmed in a press conference, let's not get carried away people…no use to speculate and assume, especially if it is not true.ut if it is true, then bash all you want…I'll probably join in as well!
i see proton gotta gone soon,
about the savvy, i think the sales have better a bit d, have see more OTR, their salesman also change the way to sell like i went have a look on AMT savvy, the salesman keep say "book this car no need wait 1 year so long, book this car no need wait 1 year so long…….." from begin until end… lol
quite funny
is it that MV Augusta brought 12.4M loss in Q1?
then wat it lost doesn't affect much on Proton 700M Q2 loss!!!!
is P1 own problem mainly….
I just don't think it make sense that Proton incurred a RM700M loss in just 3 months. That is Euro180M or £110M. That is a lot of money to lose in just 3 months. I'm quite certain there was a misquote somewhere.
wel thrs no point criticising now….it was done already….hopefully thy wil sell it off n get wateva money from the sale….hopefully no rash decisions next time wen it comes to investment….few days ago p1 n p2 has their best quarter this year wer car sales jumped god knows how mnay %…..so its definatly the lossed are not bcos of poor sales,which is encouraging….
Well, not unlike the changing of the country's premier. Before change, its green pasture, tall building, Magnificent putrajaya. After change, budget tightening, Corruption suddenly appear, AP issue a big fuss which was unheard of during last 20 years.
Now proton, same thing happen. But i think proton is not to be blame. The Government linked company (GLC) culture is prevalent and as such that encourage and promote corruption. Its the system my friend. GLC to feed cronies/supporter? just a guess
Name me an excellent GLC company in malaysia. Heard of Temasek? Well, that put things into perspective.
A total engine overhaul needed to rectified this system. Patch work will only end up like kereta potong. haha. gentlemen, start your engine!
What was happen,it was happen.
Just like proton bought over MV-agusta,hope proton learn from mistake
cut down debts,regroup the whole organisation would be their best choice now
Buying MV Agusta is a good move if Proton really serious to do a mass production for that motobike… Hong Leong buy the MuZ and at least they produce a Dual purpose 125cc and cub chai after that… nothing to loose what? even a cub chai… but Proton don't sell any MV Agusta motobike after the takeover until now… what a waste… then if Proton do so, the price is over RM100K… how to sell lah? Gen2 only RM50K++ what? Use smaller cc and sell cheaper also make sense right? I wonder what kind of management they are practicing…
just wonder where P selling this motorcycle to ..
Don't even have publicity locally,..or maybe I missed out sometimes
I just wanna try my new logo…
this is good new.. just keep losing money.. go belly up and leave us in peace.
700 million tax payers money, gone down the drain, invested into italian company. l cant believe some numbskull are saying this is a common scenario in business, dont let me see somebody speaking like that in front of me, feel like…
RM700 million……..
go for improving Quality Control….it's a better decision…..
poor Proton…
Anyway,who knows where to get a MV Augusta Motorcycle right here??????
Cari kat NAZA showroom la… dia kan AP king… kat sebelah Federal Highway ni showroom besar…
Why don't they just modified Cagiva's engine and fit it for small cars like Savvy in the first place. Technology savvy? I know superbike have enourmous cc. Fuel efficeint also. R&D, think about it.
emm… y bought over MV wil be a mistery… i wonder is POTONG want to dismental all the motorciycle at MV factory, take their parts for own use? which i mean… use at POTONG cars perhaps? hehehe…
is true that RM12m to RM700m is really totally a huge different… what happens inside, again, is a mistery… y? becoz here is a bolehland… everything is boleh… ha.
i suggest to close or sell the MV unless there is a reason y POTONG keep this bull shit. and, i really curious who make this decision? is he a motorcyclelist? lucky he not a F1 fans… if not, buy a F1 team, but just left it inside factory, that time really POTONG wil bankrupt. lucky huh? :D
cheers….
poor deciision by the ex-ceo perhaps….with that amount of money RM700 juta probably can build a new platform already.
Good!
out the CORRUPTOR to JAIL!!
rakyat moola wasted!
I just read someone said Lotus was loss making.
You are out of your mind.
RM700M is a speculative value, given by an industry source. Let us all wait until the press conference before bashing them. It won't be long..
"Proton is due to report its second-quarter numbers for the period to September 30 this week."
No use feeling disapointed for something that is uncertain.
Don't you guys know, nothing wrong was done here, Standard Operating Procedure (SOP), mah.
Just some info that croos my mind. If I'm not mistaken the 12.4M previous loss is due to stock hedge… err unsold cars.
Next the 700M is from MV Augusta. It will be a while b4 this comp. can return to profit again, knowing the italian method of doing business which is next to clueless. Whoever want to do restructuring exercise for this comp. will face massive problems.
Bigjoe said,
November 29, 2005 @ 8:33 am
Don’t you guys know, nothing wrong was done here, Standard Operating Procedure (SOP), mah.
—> U got that rite Bradder! on top of table its call Standard Operating Procedure (SOP), under the table its call Suck On POTONG…(SOP) suck wat? u know i know lo..
SEE FU: YAO MOU GAO……..CHOR!!!! (TM) :P
yeah…..just sell proton…….my junk2 is a piece of junk
then i can get a cheaper 07 camry
Hi guy, have you ever dream to ride a big bike? As you all know Modenas will never produce big bike, so the only change we can get a cheap big bike (500CC and above). A 600CC bike road tax is more expensive than 1.6 liter car. You imagine how many bike in town now. If they change or upgrade to a big bike ( to avoid mat rempit), how much money that government can earn and less “traffic jamâ€. Another 5 years you will never drive in town anymore due it’s not practical (10Km distance will take about 1 hour), or you will be chase out from town cos road expansion. Right now a 600CC bike price more less as Proton Waja price.
unless they reduce the tax on bigger motorcycle..but that MV agusta is a exotic motorcycle, very expensive even in foreign market….they should have a Japnese make (rebadge….perhaps?) assembled it as a CKD…and of course..the bigger benefit…LESS JAMS..
since this is considered bigger and powerful motorcycle,
why don't to make it like a "tow-truck", to tow away breakdown or accident vehicles during rush hour.. . motorcycle easily "slip" in and out in trafiic jam situation.
Nah wat is 700M ?
Chicken Feed only lah.
Look at bank Islam oso 700M loss
Must buy 4D "2700" ah maybe can get sum $$$$
Bolehlah, a land of plenty … dun worri be happi…
Petronas will bail us out … no problem lor 20B reserve …
Now if only I can get 1M .. how lah?
Biasa la, Proton mar. Seeing all this, i won't say :" Poor Proton." i'd go, :"Poor MV Augusta and poor Lotus"
Huh? MV Augusta? What's dat exactly? Never heard of it b4. Hmmm…can't help guessing the very obvious reason why Proton suffer losses from it..can you? As for the Savvy…lets just say that the Myvi is much more worth the wait..and looks better too.
how much is mv augusta sell in malaysia
MV Augusta, an Italian sports bike maker. Very rare, not like aprillia where you can see one everywhere, in fact its more costly than aprillia, maybe in the realms of Ducatti. But….. i do think that Proton just wanna bosst its ego by acquiring them, to let people know Proton had something to do with performance makers. lol
what a good news!!! haha. potong!!!!!! your days are numbered..prepare to shut down and file for bankruptcy lah!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1
hahahahahahaha!
i am so happy about that!the world most lousy and faulty company will be gone for good!
what a great news!
expected due to poor management in all aspect
Proton just follow the trend, like of like Harley Davidson hook up with Porsche
Proton should sell protons in Italy and EU with the Cagiva brand.