Proton has received the first instalment of RM300 million out of the RM1.5 billion government soft loan, said treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah, with the balance to be released in stages and on Proton’s request.
“First they [Proton] pay off all the debtors like vendors. We go according to progress, evaluate and release [the soft loan],” said Mohd Irwan in a Bernama report. According to him, the loan should not be considered a bailout, but to rejuvenate Proton.
The aim of the RM1.5 billion loan – approved in April – was intended to make Proton a new entity with bigger energy, Mohd Irwan said. He emphasised that the government is behind supporting the national car company. He also said the loan came with certain conditions that Proton had to meet.
“We already put a guideline that first they must find a strategic partner and must do a turnaround plan, must pay off all the vendors and everything,” he said, adding that Proton was in discussion with potential partners, but refused to divulge any names.
Mohd Irwan added that Proton used to control 70% of the local car market, but that had dropped to 18% currently. “It [Proton’s share of the Malaysian market] has dropped drastically now. With this new strategy we hope Proton will capture the market,” he said.
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Use loan to cover loss. Loss due to unsold perdana is just ahead. Loss loss loss everyday. Sell at lower price (i dont want to say cheap) at least can reduce car inventory and increase spare part sales and service centre income. People dont buy proton bising2 say they done better. Sales down salah siapa?
Before you guys come here and talk rubbish, tell us about your turnaround first. Since you took RM1.5 billion of our money, we malaysians are entitled to know how you are spending that money and whether you all have cut cost.
Have the directors, CEO and Deputy CEO taken a pay cut yet? This si normal practice gloablly. When a company is doing badly, the first thing the BOD must do is offer paycut for themselves. They must vounteer and not be told
Look at the Burberry CEO, Christopher bailey just took a 75% paycut because his company was doing badly (that also they never ask rakyat RM1.5 billion). “Mr. Bailey will receive £1.89 million ($2.74 million), down from £7.51 million a year earlier, according to Burberry’s annual report published Monday”
Has the Proton BOD and Management cut cost on company cars and company allowances? Are they still using their Luxury Audi A8L?
They should all be using Saga FLX and all driver privileges also taken away to cut cost.
We Malaysians would like to know your plans on cost cutting because we are entitled to know having taken our RM1.5 billion
When you become CEO, then you can take a pay cut
Car can sell or not, Proton still make money.
Either way we Malaysians are feeding them.
My bosses aaa.. no need pay cut one.. all syiok.. even though our company not doing very well.. they have forecasted this to happen last year.. and they explained well to their staff all over the world about their plan for last year and next year the ‘turnaround plan’.. cost cutting to all department.. thats normal.. but to tell people what you are doing is just silly la.. we are top ten shipping in the world.. need to tell the world ka my boss just change car from audi to p1 even though we make p1 car.. owh, p1 going to jv build lotus factory in china and they will invest 3b.. didnt u know?
Boleh faham mengapa Kunta agak upset dengan proton, diamsebagai proton owner for many years dan sekarang masih guna proton, kasihan he feels upset sebab takda safety improvement dekat kereta perdana baru.
Used proton but bash proton? Macam musuh bunuh bapanya. What for? Kunta must be the low ranking keyboard warrior only.
Salah RBA
Ape ni 300 juta? Berbanding dengan 14,000 juta sorang ambik
Even sell nasi lemak can have rm60 profit in one Day. What a shame proton
Nasi lemak telur mata satu!
Welcome nasi lemak seller here
Why special treatment?
Like Rayani Air, you can’t run the business properly, you die la.
Still tak malu want to be around.
We all know where the money goes to.
This shok sendiri car rebadged is overrated
Datuk Selimut,
Announcement: All major 5 STAR HOTELS in K.L. refund your wedding hall/banquet deposits this month till Raya.
Proton vendors got paid RM 300 juta.
They are celebrating all night long with champagne and bikini clad amoi.
Syiok…..lagi best….wah liao…..be happy….gomen bailout never late .
Proton selimut is Datuk? Only dupes know other dupes, haha kantoi!
Peanut only la, let all the workers sleep like MAS and nasi lemak
first tongkat has arrived
Not first, many time times already. And sure this is not the last time…
sigh~~~~another million burn….what proton can do? yeah, proton can burn money
Most of the workers r Part Hard supporters. However RBA team r bashing them left right and center. U want to push them back to BN isit? I gerenti Slgr will be the 1st state to fall back.
RPK said Party Hard oppolitikuses dunno meaning of friendly fire and just hentam indiscriminately. I wud add their troopers too din grasp that concept of modern warfare.
Can consider this as a POLITICAL talk? Or can consider this as a External/Public reaction to some of organization to anticipate? Just asking
“loan”
Better they (Proton’s think tank team) study how Samsung survived nowdays..There is nothing wrong with NOKIA, but they still out perform or disqualified in the market share..Proton should take this as a case study..Absolutely, this study should cover PEST (Political, Economy, Social & Technology) how to survive in the market place..DAN APA YANG PENTING, LETAKKAN SESUATU PADA TEMPATNYA..Meaning to say, SEKIRANYA ORANG DILETAKKAN DI”TEMPAT” ITU TIADA KEPAKARAN/BIDANG/ATAU DIPANGGIL AHLINYA, all the strategies, policies, procedures and money will goes to the drain..Just to share the idea..
Theres no such thing as PEST in business models. It is STAR
PEST is a good basic business model to use when you want to identify your own market position.
Political: In Proton’s case, this is a double edged sword. Right now government is helping Proton too much. They need to stop such aid to force Proton to survive on their own.
Economic: Malaysia is having a poor economy right now. And this has a lot to do with its political quagmire. (don’t ask me what and why, we all know it)
Social: Right now, Proton’s image is really bad compared to decades ago. Brand perception is mainly “QC lousy”, “bad customer service”, “overpriced”. They need to address this asap with quick measures, not just some fancy ad or promotions.
Technology: Believe me or not, proton has access to some real advanced tech, thanks to Lotus and Petronas. Proton should make good use of it.
And yes, right now they are putting wrong person for the position. And its management.
Everyday asking for loan. When are you guys gonna learn to stand on your feet and be competitive? Doesn’t it cross your mind that all of you should buck up? Where is the pride and dignity? Seriously all Proton employees should ponder it.
“should not be considered a bailout, but to rejuvenate Proton”
what you think this is free massage ar, kns. That’s my money you wake up…
First off, offload Lotus. Bullshit that it is turning around to make tonnes of cash. Secondly, two plants both under utilised. Close one. Third, source from cheaper, better suppliers. That means widen supply base from around Asia. Forget the expensive, low quality vendors. Fourth, revamp your management.
Jadi your vendor pun suey. Got to use public money to pay.
If dont know how to do business, dont cling on in the name of national car lah.
7 unshameful monkeys…ooOoo!
yahoo!!! Duit oredi mashuk…..Directors of Proton can now request to upgrade and change their Merc….
Gaji can increase also…..
Put in the bank for six months first, earn 5% interest fir$t.
After more than 25 years still need tongkat from gov, shameful. A lot of companies can reach global status within the same time, even Chinese car companies are starting to gain traction…
During previous era, this loan labelled as bailout…but this time all should not be considered a bailout, but to rejuvenate Proton…sigh…next era..don’t know what the term they will use..but it seems their obj. is same.
Show us the receipt ..
Just close shop la. How many times use time “strategy” already? We all know what’s going to happen in this endless cycle of bs.
Dear Proton, if you really want to improve and survive, look no further, here we have all sorts of realistic advices for you.
I make a shortlist here:
1) A segment: Saga
2) B segment: Persona & Iriz
3) C segment: Waja/Preve, and Suprima
4) D segment: Perdana
5) Perfomance: Satria GTI, or even just rebadge the Lotus Elise. (many advanced features can put into these)
Note that all segment above i mentioned, the engine and transmission has to be decent and reliable, and has to offer similar price/performance/ FC compared to competitors. Focus on one or two segments. Redage the rest. This is called “not putting all the eggs into one single basket”.
Hire anyone of us here as your part time non-official advisor, Proton.
If you really want to survive as a national carmaker, that is.
I make it simpler for Proton….
Just close shop.
Yes. Duit Raya for Proton staffs?