In an announcement today, the Malaysian government has approved national carmaker Proton’s application for a soft loan of RM1.5 billion. It’s said that this would help the company pay its vendors for components already supplied.
The loan comes with strings attached, of course. International Trade and Industries (MITI) minister Datuk Seri Mustapa Mohamed said that the government has set several conditions for Proton to meet, including the company having to “convince the government” of its new business model.
Aside from the mandatory turnaround plan, Proton will also have to provide a strategic plan to expand its domestic and international markets. “A special task force will be set up and it will be led by Pemandu chief executive Datuk Seri Idris Jala. This team will overlook Proton’s transformation plan and to ensure that it is successful,” Mustapa told the New Straits Times.
The said task force will have six representatives – one each from the Finance Ministry, International Trade and Industries Ministry and Economic Planning Unit (EPU), plus three from the private sector, which will be identified at a later date.
Mustapa also mentioned that the government is aware that the automotive industry is a “strategic industry,” and that Proton currently employs around 12,000 employees, with over 50,000 more tied to its vendor companies.
AD: Drive the Proton model of your dreams. Submit your details and Proton PJ will get in touch with you.
Looking to sell your car? Sell it with Carro.
Janji najix tak ditunaikan,penipu Rakyat!
on 
jinggo
on 
john
on 
hahaha
on 
Paul
on 
Muniandy Periasamy
on 
Boring Samy
on 
Idris Jala?
on 
razif
on 
WT Fuchhh
on 
Fake samy story
on 
Gargantia
on 
Tew
on 
Same L0rrrr
on 
anony
on 
Ootai
on 
wowtrue
on 
Chongker
on 
Noproton ever
on 
OMG
on 
Cash is king
on 
even
on 
Yoby
on 
Sack designer
on 
Jdjdjdjs
on 
DenFire
on 
Low Budget
on 
WRK
on 
superman
on 
Rakyat Power
on 
ken
on 
Every1canTalk
on 
poor guy
on 
xxxxyyyyzzz
on 
Mustang
on 
Kenneth Fook
on 
Kathy Sock
on 
Khairul
on 
Geli siot!
on 
Rip
on 
john is otak batu
on 
anon
on 
Jonn Dol
on 
dodgeviper88
on 
Axxx
on 
applegreen
on 
Superman
on 
nabill (Member)
on 
tokmoh.
on 
Lelong Potong once and for all
on 
Nik
on 
vincentkoh79
on 
frossonice
on 
angah
on 
Ollie
on 
Nobody
on 
Hangus
on 
ioma
on 
Jeffrey
on 
mystvearn
on 
Batak
on 
zakaria
on 
Juan
on 
yusri
on 
Business Minded
on 
Sam VHL Loo
on 
Jimmy
on 
Muhammad
on 
ProtonSCRW
on 
loan shark
on 
Smlok
on 
intermilan
on 
Andrekua
on 
Only Solution to Proton Weos
on 
Submarine
on 
lcms
on 
Anti Tongkat
on 
sjhsjs
on 
Haiz..
on 
Magician
on 
Jobless
on 
Shahril
on 
Jason
on 
AI-generated Summary ✨
Comments mainly express skepticism and frustration over the RM1.5 billion soft loan approved for Proton, highlighting concerns about past financial losses, inefficiency, and ongoing bailouts. Many critics feel Proton's management is lazy, uncompetitive, and incapable of paying back debts, predicting continued reliance on government assistance. There is a general distrust of government intervention, with some suggesting Proton should be sold off or closed. Others criticize the company's quality issues and management practices, blaming cronyism and poor business strategies. A few comments support the move as necessary for jobs and the local automotive industry, but the predominant sentiment is that the bailouts are a waste of taxpayers' money with little hope of sustainable turnaround.