As reported earlier, the Malaysian government’s approval of Proton’s application for a soft loan of RM1.5 billion will include several conditions, including the creation of a task force to oversee the national carmaker’s turnaround plan. The International Trade and Industry Ministry (MITI) has now shed more light on said task force.
The task force, led by Performance Management and Delivery Unit (Pemandu) CEO Datuk Seri Idris Jala, will be responsible in monitoring the implementation of Proton’s plans to revive its business, which in turn will make the company more competitive, said MITI minister Datuk Seri Mustapa Mohamed in a report by The Star.
Additionally, it will also be responsible to monitor a strategic plan for Proton to increase its share of the domestic market, as well as to penetrate into international markets. “The task force will also identify strategic partners from abroad in the near future to assist Proton in achieving its goal of improving competitiveness.
“However, the task force will not be involved in Proton’s day-to-day operations as that will be the full responsibility of Proton’s management and board of directors,” Mustapa said.
There will be six people in the task force, three of which are from the private sectors, while the remainder are from the public sectors. The former includes Symphony House Bhd executive chairman and Group chief executive officer (CEO) Tan Sri Azman Yahya, Celcom-Axiata Berhad chief executive director Datuk Sri Shazalli Ramly and Maybank Community Financial Services head Datuk Hamirullah Boorhan.
As for the latter, MITI deputy secretary-general Datuk Nik Rahmat Nik Taib, Finance Ministry Strategic Investment Division secretary Dr Yusof Ismail and Economic Planning Unit (EPU) deputy director-general Datuk Yogeesvaran Kumaraguru will represent the public sector.
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AI-generated Summary ✨
Comments express skepticism and criticism of Proton's management and the RM1.5 billion bailout, suggesting that past efforts failed and vendors are linked with cronies. There's dissatisfaction with the accountability of the task force and concerns about corruption, vendor quality, and leadership competence. Some comments highlight political interference and question the effectiveness of the planned turnaround, with a few calling for Proton's closure or sale and expressing distrust in government support. Overall, sentiments are largely negative.