Proton’s Quarter 2 2006 financial results have just been posted on the Bursa Malaysia announcement page, and the figures are still in red. Losses before tax for Quarter 2 2006 is RM 240,480,000, compared to RM 161,785,000 in Quarter 2 2005. This brings the total losses for the first half of this year to RM 336,016,000, compared to RM 169,146,000 for the same half year period of 2005. Reasons for this loss was reported to be a sluggish and competitive market which resulted in a lower sales volume. The market has certainly been sluggish, with October 2006 sales dropping by a huge 37 percent as compared to the same time period last year!
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Source: BTimes, Bursa Malaysia
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AI-generated Summary ✨
The comments largely express frustration and disappointment with Proton's financial losses and overall performance, criticizing the quality, management, and government protection policies like NAP. Many commenters believe Proton's failure is detrimental to Malaysian consumers who are suffering from higher prices, poor quality, and limited choices. Some suggest Proton's survival is tied to mismanagement and corruption, arguing it costs taxpayers billions daily. There’s widespread call for Proton to exit the industry, allowing better foreign competition and cheaper imported cars. A few comments express support for boycotting Proton and urge government reform to address unfair automotive policies. Overall, sentiments are negative, highlighting a belief that Proton's decline might benefit consumers and industry in the long run, but many fear its continued existence harms Malaysia’s auto industry and economy.