Proton Holdings Bhd shares are now at a 7-year all time low, closing at RM4.02 yesterday, but not after dipping to an intra-day low of RM3.98. This is a 18.6% drop. You can see the effects of this share drop in the local automotive forums, where some reveal their losses of thousands of ringgit on paper value.
Second Finance Minister Tan Sri Nor Mohamed Yakcop says there is no reason for investors to fret over the price decline as this is a normal market reaction. He also added that there is no specific timeframe for the management of Proton to turn around, but the government hopes the company will keep the momentum going with efforts to increase sales and quality.
I am sure there is a timeframe, otherwise it would not make any sense at all to throw away all that hard work in steering the Proton-Volkswagen negotiations towards a positive end result – something that has been going since 2004.
AD: Drive the Proton model of your dreams. Submit your details and Proton PJ will get in touch with you.
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AI-generated Summary ✨
Comments overall express strong frustration and skepticism regarding Proton’s lack of a clear turnaround timeframe, with many doubting its future success. Critics condemn government support and question Proton’s management and strategic decisions, often linking these issues to inefficiency and corruption. Some recall past poor quality and outdated models, while others dismiss prospects of future viability, often calling for privatization or closing down. There is a general sentiment that Proton’s dependence on protectionism and government backing hampers innovation and global competitiveness. Several comments highlight disappointment with the company's sluggish response, lack of accountability, and poor financial health, leading to fears of decline or closure. A few supporters defend Proton, but the majority display pessimism about its prospects without urgent reforms or a defined strategy.