Proton has reported that it has posted a RM186 million profit before tax for the first half of its 2010/11 financial year, up from the RM165 million it registered in the corresponding period last year.
The company said in a statement that it had registered a 13% increase in its vehicle sales up to Q2 of 2010, with the growing demand for Proton vehicles significantly contributed by three core models – the Saga, Persona and Exora.
Group profit before taxation at RM81 million for Q2 however, was lower than the RM105 million recorded in the immediate preceding quarter. This was attributable to a one-off provision for stock obsolescence, and branding and restructuring costs incurred by Group Lotus for the business turnaround exercise. This involved the launching of a new brand identity for Group Lotus and culminated with the worldwide unveiling of five brand new Lotus models at the Paris Motor Show in September.
“Proton remains confident that sales will continue to grow, on the strength of the public’s positive response towards the recently launched Inspira. As of yesterday, Proton has already received a total of 3,400 bookings for the Inspira since it opened for booking on October 14,” said Proton Holdings chairman Datuk Nadzmi Mohd Salleh.
He also added that Proton’s performance going forward will also be backed by the introduction of refreshers and variants. He further explained that the Group will also focus on expanding into selected key markets, intensifying on branding and marketing initiatives, and continuing to invest in development activities and the acquisition of new technology.
The company also intends to take an early advantage of and capitalise on the Government’s initiative to make Malaysia a regional hub for hybrid, electric and environmentally-friendly vehicles, said Proton’s group managing director Datuk Syed Zainal Abidin.
The full exemption on the import and excise duties until December 31, 2011 for hybrid cars below 2,000cc which includes electric cars, hybrid motorcycles and electric motorcycles is key to these efforts.
“These exemptions will serve as an attractive incentive for local companies such as Proton to manufacture such vehicles in Malaysia. This will not only extend significant savings to car owners in terms of lower fuel costs, but assists Proton in the forefront of promoting Malaysia as a regional hub for the development and manufacturing of green technology vehicles,” Syed Zainal added.
The company is already in the final phase of testing and validating a Proton Exora Extended Range Electric Vehicle, which is targeted for commercial production as early as 2011. The vehicle had earlier in the month won the ‘Best Range Extender Electric Vehicle’ category in the inaugural Brighton to London Future Car Challenge organised by Royal Automobile Club in the UK.
Looking to sell your car? Sell it with Carro.
make so much money, wanna pay back to our EPF ?
ummm…did ur epf / kwsp decreased due to the govt funding to p1? it will just stay like that… duh… nuthing to repay to you.
School boy.. what he know about EPF.. But u will get ur RMT and SUSU 1 MALAYSIA.. Dun worry ye adik…
subsidy for school children..!wakakaka…
EPF gains the benefit as a shareholder through dividends. So in essence YES they’re giving back money to the EPF
what’s wrong with YOUR EPF?
are you sure you’re working meh?
LOLzz
supporter of cos not worry about EPF, you dont make enough to pay income tax and you care less about EPF. Bolo, rakyat own this company, of cos we care.
Thanks tiadaid, you are most helpful.
the rest are funny, they can read but they do not understand. Supporter konon. lol.
make enough money to buy inspira dy? oh….tak mampu…. bawak jer la saga 20 tahun tu. Bubuh terbo…(turbo) la.
don’t worry about EPF meh
when proton enter F1 they’ll make much more dough than this RMRM186 mil … in proton we trust our EPF quids …
lolzz
do u repay ur ptptn loan
@p1,
You sure read too much political sermons. The government owe you this, Proton owe you that, Petronas owe you money etc.
No one owes you anything.
If your EPF savings drop by 1 sen because the government bailed out Proton, you should complain. But now, over 10 years after the bailout, your money is still there — every single freaking cent.
I find it pathetic that Malaysians are becoming pessimistic lot, thanks to the “independent” online news media and political blogs
While paultan reports the news positively, other sites like Malaysiakini wrote this in it’s headline “Proton sees second quarter loss of 19.7%”.
Crazy. Same news, 2 different views.
No wonder Malaysians are becoming unruly. Too much pessimism in air.
p/s No, I don’t work or drive a Proton. I only drive Hondas all my life. But I find Protons looking better under Syed Zainal.
agreed.. all these so called ‘independant news’ sites actually used to be informative.. now mostly are just becoming an eyesore (and earsore, if you have friends that worship these kinda sites.. sigh…)
Make profit by fitting low quality materials in their cars…
Really? Can’t believe it…
no wonder la.. harga kereta proton pun mahal…
nah..perodua is even more expensive…Viva EEE at RM 42k….damn!
agreed. better get Saga SE.
agree!!
can buy a saga that is bigger n better wif the price of a tiny viva!
Rugi kena kutuk… Membazir duit rakyat… Untung kena kutuk …. Cekik duit rakyat… Apa yang hangpa nak???? Buat bisnes bege pon nak untung, ni pulak jual kereta…
why proton price in Saudi Arabia is MUCH CHEAPER than our shore???
PROTON DISCRIMINATE MALAYSIAN!!!!
Malaysian should sacrifice buying expensive PROTON cars in Malaysia for cover back the CHEAPER Proton price in Saudi Arabia…
haha
in msia proton is also subjected to tax. Dont ask proton if you think the price is expensive. Pls ask the gomen for the tax.
Sigh..this issue again… i lost count of how many time this have been explained on this blog…. apparently some ppl are still ignorant n stupid enough to still not get it… well only ‘Smart guy get it’ =p
duh… i more basher that dont know how car tax work in malaysia.. paul.. pls make an article about how car tax work in malaysia.. and compare it to arab saudi.. i so pity to this guy… he just believe what he hear or read..
yeah…
i know your disagreement with my comment..
but i want government remove all the tax in the national cars (P1 and P2) namely excise duty and sales tax. Thats all!
p/s- even savvy excise duty reach up to RM3000.
what the heck government did like this to Malaysian!
Doesn’t have any feeling to remove all taxes in the national cars??
I hope the government will consider my suggestion and submitted to Parliament for creating TAX-FREE NATIONAL CAR BILL.
kalau proton mahal, beli ajelah viva basic… value for money?
I thought the profit is in EURO$186 million
untung salah, rugi pun salah.. basher2
just purely depend on M’sia market only.. huh. if not, definitely not profit
Why??? what’s ur prob??? Profit is profit… full stop.. there is no IF,KALAU,JIKA,ANDAI…
how to expand biz/progress if all ur customers are ur uncle/sis/bro/auntie and no outsiders?
How to go outside if not from internal profit…
hiruma, you think this is nasi lemak/pisang goreng/ ramli burger business?
Celah mana pulak timbul Proton x untung dari pasaran luar.. Setiap tahun jumlah eksport Proton meningkat… Ingat macam jual cd cetak rompak ka , buat banyak2 pastu seludup.. Ni jual kereta.. Nak kukuhkan jenama kat luar negara kena la kukuhkan dalam negara dulu… Yang hangpa ni x baca laporan kewangan proton ka? Kan Proton dah terangkan perancangan.,… Dalam plan nak keluarkan kereta untuk pasaran india, deal dengan Mitsubishi untuk rebadge exora dan Persona, Proton eman, Lotus citycar, Perluasan pasaran di timur tengah, perbincangan dengan syarikat pengeluar kereta dari China… So habaq mai, celah mana yang x kena… Ingat senang ka? KIA pon sekarang ni antara pengeluar kereta terbesar, tapi adakah KIA capai semua ni dalam masa yang singkat.. Hangpa dok bising nak untung luar negara, yg hangpa rakyat Malaysia pon dok kutuk teruk2… Sebenaqnya orang macam hangpa ni yg dok buat busuk nama Proton.. Pakai Myvi ngan Vios, pastu pi dok kutk Proton, padahal x pernah drive Proton pon… orang luar negara pon ada internet la weh… Orang luar pon baca paultan.org… Bila tengok komen hangpa dok buat cerita buruk pasai Proton, depa pon jadi cuak nak beli..
that not a prob…many malaysian made product r purely sold locally..they do have profit
I can see that a lot of people over here really has NO NUMBER SENSE……Just google any car company financial report and read yourself please…….what is this 186 million linggit before tax ?
well, you might also find about many other car manufacturers which lost hundreds of millions of dollars. Volvo, Ssangyong, Mazda, and Mitsubishi are among those which incur losses last year. then you’ll know that it’s good to get profit even for a small RM186mil.
you again ah MoFaz the cyber trooper who has never passed his kira-kira…..
These years…….Malaysian has directly and indirectly spend TENS OF BILLIONS extra for the sake of Protons. Look at their earnings…..186 million before tax. Meaning that there are going to pay only 48 million tax for the government.
WHAT A JOKE ! Imagine you have a friend whom you have to belanja him 400 times dinner before he is willing to belanja you 1 time teh tarik !
what’s your problem if other people still buy proton cars? and where do you get the figure of that “tens of billions”? your imaginary friend told you that?
kid, please grow up and drink milo then go play with real friends… play more, learn more.
dear uncle MoFaz, my imaginary friend told me not to buy Proton bcoz the quality is beyond imagination…….hope you don’t get upset with my friend….
:) Thats why i said this MoFaz is weak in Maths…..
25 years…..the excise duty and Proton direct sales does not exceed tens of billion ? Proton used to have yearly revenue of 1 billion during Waja era do you know bodoh !
Do you know how many copies Taylor Swift latest album sold in a week or not ? How come you are really so weak in numbers I wonder !? Wanna debate debate with figures lah.
Your comment is reallywasting paultan,org bandwidth
the problem is these ppl have no choice but to buy proton’s shitty cars as the prices of other shitty cars are too high due to protection for national cars. as for the shitty losses of other carmakers, at least they dare to compete in the open markets and not hide behind the govt’s sarung.
Mr. Mofaz, in Malaysia we don’t just drink Milo. We even drive one! Protong Milo.
Probably the govt has spent tens of billions on proton…but not in 1 year… this is 1 year profit… eh wait…this is half a year profit….. it would be a miracle if a company can recover a 25 years investment in half a year…. tell me one company in this world that has recover its investment for let say 5 years in half a year?
this is just from 3 months, not half year, and ABSOLUTELY not from 25 years. losantara is the most stupid amongst the dumb bashers. i just don’t know how he think that RM186mil was the only profit that Proton get in 25 years. maybe he don’t even know what ‘quarter’ is…
i hope one day he will look into the mirror and say “i will not be a dumb basher today”
A lot off people love Inspira.. See, I told u…. People will buy… Gambate Proton…
Just because it is a Mitsubishi, I see no relationship with Proton other than the price is lowered because of the “mighty” rebadging. And people dont love Proton I see, without Proton, Inspira aka Lancer will be selling aroung RM60-70k.
for sure, as you can see by all the comments made by the closet mitsu fanboys who “love” the inspira and will buy it only to go the ah beng shop to “upgrade” to evo X. LOL! sayang proton konon! ppl love the inpsira? let us wait and see what the montly sales volume is like, sales figure dont lie as my friend who is now with sime auto conexxion tells me.
From next year they gone to spent about EUR 30 million per season for five years in F1.
while toyota and honda staying away from F-1 , Proton jump in, even without any credible experience in motorsport
Have to start somewhere.
Some people here are talking about P1 depending too much on local market – F1 is a great opportunity for global branding.
To start with giving your name onto well-established player like Renault, is not a bad move.
Have no idea on what P1 will have in return, but i’m pretty sure there’re some more arrangements.
any update on this, Paul?
Proton Edar also got an updated site. Seems like Proton is phasing out the regular Satria Neo. Only choice is the CPS model only. Just over 4 years in the market, Proton has given up the major audience and suggest people with extra cash to buy Satria Neo. If CPS can be cheaper, I might consider to get but with at price tag of 57k over, it is so expensive still. Come on Proton, revise the price la.
Waja, Neo, and Perdana is not ‘major’ models. in fact, only about 300 unit of those models are sold monthly, compared to 4000 units of Saga. Waja was available in several trims previously, but now only 1 version available. so, Neo is receiving the same fate, and it’s almost time for replacement too.
You should test drive it first and have a feel of the car when the CPS kicks in and how the handling is like. Then, you will know why it is priced as such.
not real sales figure…. it just that the G bought the unsold stock and convert it for police patrol car… pegawai penyiasat car etc..etc…. and also other agencies as well…
It is clearly stated in the article that the major contributors are Saga, Persona and Exora. Police force and govt agency mostly use Waja la kawan…
Really?
Care to name your sources before making this stupid statement?
Dude…. previously I work with company name Spanco… until now the co still existed and it is one of the top co in buying proton ‘s car and rent it to the G’s agencies. This co. buys everything unsold buy proton….. so search for the internet and who’s behind the co. then you’ll understand….. Proton’s statement are bluffing.
Another internet trolls. Fact Please.
Woah…..most unlikely….some impact yes but until this extent, unbelievable.
Every dept got budget limitation.
Good news! It shows that Proton can stand by itself and export already. Government please remove any protection of automotive industry so more foreign car company can come in Malaysia and create more works for people. Isnt it the purpose of NEP? so now we can remove those tax already since Proton has proof they can survive…unless those cronny wants more…
than u must prepare urself n ur family if there is increase in ur income tax, service tax, petrol price, higher food price,transportation, even higher cost of buying house..money need to come from somewhere..i might be can survive but wat the majority of the population
Like your comment, bashers only think about proton being protected without acknowledging Malaysian in general are protected by the government. Remove all the subsidies do you think you could survive?
question is, have you got the guts to survive?
Agensi berita AP pulak besar2kan pasal Q2 profit drop. Walaupun drop, masih lagi untung!! Bukannya rugi..
http://news.malaysia.msn.com/regional/article.aspx?cp-documentid=4483095
P1 will realise that they sell more cars by rebadging.
No need R&D and all that crap.
Might as well just rebadge future models.
And Tiadaid ,
The 20sen less 25% tax dividend is chicken feed.
did u read or not? most of the profit come from the sales of saga, persona and exora. these are not rebadge.
Do you seriously think that Inspira contributes to all that profit? The car just launched a couple of weeks ago, which I reckon would fall in Q3 of Proton’s financial year.
Well i think its about time for the government to seriously think about reducing import duties phase by phase. We Malaysians deserve more choice at affordable prices. Not against proton here, but ‘national people’ deserve more than ‘national car’. So much of valuable income is ‘wasted’ in purchasing vehicles in M’sia, which can be better used to invest in appreciating assets, not depreciating assets like vehicles. Youngsters have no choice but to tie themselves with long term loans which is such a burden. I’m always inclined towards removing fuel subsidies completely and reducing car prices at the same time, and let the people decide whether to choose economical cars or not. Government saves a lot in fuel subsidies, and high fuel prices will force people to think green and act green. Again, not against proton here, but sacrificing the general population for the gain of select few (proton + its shareholders, etc) does not seem ok with me. 1Malaysia deserve better than 1company. Just my opinion, feedbacks are appreciated :-)
look at paultan news, more and more local made car ;) even volvo also local assembly.
slowly they will decrease the price, proton knew about this, thats why they are smart, they go inspira rebadge first, and wanna do like P2.
only supporters that are driving old wira is trying to defend proton, proton is smarter than everyone, rebadge is the future, P2 proved it. Otherwise, why hire DSZ from P2?
katak katak tu, ish ish, supporter apa ni.
agree!
power.. this is profit figureof 2010 2nd half.. noithing to do with rebadging since inspira just be launced recently.
somemore, DSZ is not hired by proton.. he wants to… better than be japanese puppets in perodua.. thats also the reason one of another Perodua MD Datuk Syed resigned and moved to NAZA
u r just typical perodua fanboy japs wannabe…know nuts
prrrrtfhhhhh
its not abt rebadging..
& i realy dont agree proton’s future to be just rebadging other cars like p2.
1) the title is “profit before tax first half 2010” meaning its before inspira launched, nothing to do with rebadging.
2) inspira is produced to be proton’s filling model so proton have a low R&D cost model to be sell @ competitive price & can give proton maximum profit & can be use for R&D for next models.btw.. ispira is not just simply rebadging,
3) that means, the profit is purely from proton’s improvement of its service reliability, people’s trust, good products, etc..
well.. i might agree to what gun says.. proton comes with good & more reliable & cheaper products nowadays. but i dont know wether proton already can play with other big players alone or not. this is something that not easily can be decide. wrong step, malaysia’s proud national carmaker could be gone.. and what left was p2 copycat with no self identity.. :-|
came on la power..
Although P1 is rebadging, definitely it is not like what P2 is doing! P1 rebadged Lancer with additional upgrade like Proton/Lotus handling.
What P2 is doing? Rebadge with downgraded features and price the car at high cost? Now that we call ‘maximising the profit to the max’ by P2..
As always P1 are a surplus for Govt. And over those years its not really a consumer’s surplus because consumers wants other brands which their cant afford to because the 300% import duties…
The valuable income becomes wasted, as the markets for vehicles factors are not perfectly competitive or to sustain competitiveness. So now is decline in value of assets on tax purposes like import duties and long term loans.
And in does not seem ok for me too…on sacrificing the general population for the gain of select few (proton + its shareholders, etc)
my 2 cent opinion…
i don’t have exact figures, so just for example, gov get about RM3bil from car import tax, and they spent about RM3bil to subsidize petrol too. mathematically, it’s easy to remove tax and reduce the subsidy to 0, but the impact of reducing subsidy is far worse and can’t be balanced by reducing tax. if petrol price increase, everything else will increase.
i agree with reducing tax and reducing subsidy, but it must me done properly. maybe we can see it happen after LRT & MRT completed.
isn’t that amount almost the same as the amount of ‘R&D’ subsidy proton receive every year from govt?
i don’t mind to give money for RnD. just need to ensure it is used wisely..
source please?
congrate….
…The profit going to be used in F1/Renault F1….instead of spending it to improve their passenger cars……
LR.. you should know why many car manufacturer involve in F1.. one of the way to improve their car..
Proton is simply one of the reasons why Malaysians have to fork out so much more for luxury.
agree.
of course… luxury is not Proton’s business model. if you want luxury, go get BMW or Merc.
dear uncle…..please read the phase betul-betul….
i have no problem, and i think i understand it much better than you.
take australia for example, no protection for proton there, and luxury cars only accounted for 6% annual sales. so, why blame proton in malaysia? do you think 50% of market share in malaysia should be from luxury cars?
At least they still have money to buy luxury car. Care to research how they can afford to buy it in the first place?
so.. you say you cant afford a BMW because of Proton?
haha… This minded is simple reason why Malaysia cannot progress…
finally got profit after rebadge project……….so can give bonus to all the sleepy staff …..
i think you’re the one who is a sleepy head. This has been said few times on this topic…. the profit has got nuthing to do with inspira….its a profit before inspira was launched… duh!!