Zhejiang Geely‘s acquisition of a 49.9% equity stake in Proton will not change the way the automaker is run, with the management of the national carmaker continuing to be led and overseen by its parent company, DRB-Hicom.
According to The Sun, international trade and industry minister Datuk Seri Mustapa Mohamed was informed that the deal will have no significant impact on the executive aspect of Proton.
“We understand that DRB-Hicom will continue to lead in the management of Proton. That’s the information I received. Of course, it’s a business decision. So whatever it is, we leave it to the company to decide what is best for them,” he told reporters.
The deal, which will see Geely and DRB-Hicom signing the definitive agreement before the end of July 2017, will also see the Chinese company acquire a 51% majority stake of Lotus Cars from Proton. The latter had also announced that it was selling off Lotus Cars in its entirety, with the remaining 49% stake to be sold to Etika Automotive.
Jual kena bash.
X jual pun kena bash.
Cukurrr DRB pertahan maruah bangsa MY!
Yea… continue the Proton lifestyle then Proton will look for another foreign partner next year… No sozai will forever pump money and technology into a blackhole.
Proton defending mode on
title correction…
will continue to manage, lead and ultimately fail
P1 kasi lingkup no problemo.
That is bad news. Unlike volvo proton has received many cash injections before. Obviously more is needed than a simple jab. There is something wrong in the chain of command.
I have a uneasy feeling that after purchasing 49%, Geely is happy to continue to let proton walk down the dooms path so they can ultimately purchase the remainder 51% for a pittance when the company has failed ultimately.
With government giving more than 3 billion ringgit, actually DRB should let the ministers to run the business. Hahaha
let the ministers run the business? so it can be as successful as the 1MDB?
DRB-Hicom management has learned their hard lessons. Plz gv them 1 more chance..
If you got money you yourself go give them another chance inject your own personal money.
We the rakyat cannot afford to give anymore money. We could have been enjoying pothole free roads, more free shuttle bus around CBDs, more govt scholarships, more LRT/monorail trains for better frequency, free multilevel public carpark or anything possible with that huge sum of money worth RM3billion++ to help the rakyat. But instead the G chose to throw it at P1 which brings no benefit to the society, in turn makes society to suffer.
Welcome to Bolehland!…
Its better for the management team to be overhauled. No good track record before and in the future.
P1 Boleh…copy paste Geely design aje.
I am sure at least they will be smarter than you. Track records exist after doing something. In the future isn’t something you’d have a track record of.
Thick skin: Use the same method will always yield the same results. Loose money again…. Sigh. Bolehland….
DRB will continue to manage and lead P1 = P1 continue to chill and relax, goyang kaki, tehtarik, karipaps ,kuih muih = P1 continue to suffer losses = P1 continue make rakyat suffer, loan money no need payback.
DRB kipidap, eat karipap
Looks like we care getting clearer now!
DRB is only interested to protect the interest of their “friend” aka supplier!
Geely only interested on Lotus tech to improved it own model like Volvo! Geely will turn Tanjung Malim plant become their assembly plant for Volvo, targeting SE market!
No one is actually interested to safe Proton!
Say bye to Proton brand in 2 to 3 years time!
DRB is still calling the shots on Proton and Geely on Lotus.
So Proton won’t close even if they do not do well in the future because the Gomen will still pump in substantial amount of $$$$ for “Research and Development”
Excellent corp manouvres.
DRB mgmt still holding power, Shah Alam land, Lotus, crony vendors, 12,000 workers yet money & Tech from Middle Kingdom. Kudos !
Yup.. Geely just wants Lotus and use the factories to pasang kereta. Probably can’t even touch Proton management and probably doesn’t want to either. With 49.9%, Geely are basically just considered by DRB-Hicom as investors, not owners.
DRB will continue to manage? So what what different does it make? If they are competent, the company won’t be sold in the first place.
Geely paid 170m ringgit for the 49.9% stake in proton. Unbelievably low for a company that needs ‘billions’ for r&d…
What they actually buy is Proton’s debt. Just like Proton’s sale of MV Agusta for $1.
Bangkitlah DRB!!!
Hang jangan lupa bayar hutang tau.
Sweet … so take the money and continue doing the same shit by the same bunch of monkeys. Just drama !!
The problem in Proton is DRB-Hicom management itself. They don’t know how to manage Proton effectively. So good luck to Proton, I don’t think you can succeed with current management. If they allow Geely to interfere, only then the success may come.
Wait till the sales numbers continue to go down, see whether your partner will continue giving you the steering wheel to steer.
Partner will open new karipap food chain as a group’s strategic business diversification. Appoint P1 management team to run the business. Confirm successful since P1 mgmt have the best knowledge in karipaps after consuming them all these years. It will be the best karipap food chain in Malaysia, China and some say Sweden
the real deal is Geely buying over LOTUS, that’s international brand & reputation. Proton is just a side dish that comes together with the buyover.. meh who cares on Proton anyway…
More like garnish,which often nobody eats garish on a plate
continue to manage means continue lost?
This is the problem
Ever heard of the phrase “Only a madman will expect different result from doing exactly the same thing” . Then expect P1 to fail spectacularly again. We DON’T WANT our tax money to bail them out again.
If anyone think that – Doing the Same Thing over & over again & Expecting Different Result must be NUTS.
Good luck to GEELY bcos U will need ALL the luck in the world to make it HAPPEN/Success.
proton needs to fire all their QC staff.. for the tech and others quite impressive ..people lose faith on proton just because those QC.. sound krek krek sana sini..
Geely Boyue SUV…Rebadge & launch it now P1!
lol they already have lotus…i don think they care about proton much
How can DRB continue to lead Proton? The failed management had already drove Proton down the sewer. Better let the new owner do the driving and DRB sit back & just play alibaba role. In this special case, alibaba role is what Proton needs of DRB. I still echo what Geely said earlier….DRB just doesn’t know what it wants !
Of course la they have to keep the majority stake..the real issue here is tax…gov makes billions of finggit per year on tax imposed on foreign cars although in reality..p1 and p2 are now also a foreign entity…. the knock on effect of the sale is..for the first time in over 15 years..Proton might actually put out some quality cars at affordable prices for the masses but the hate is so real that people nowadays do whatever it takes to avoid p1……..Malaysia is truly a funny place to live in…
Serious questions; is the Malaysian government still on the hook for R&D? Are the Malaysian tax payers still going to have to make ‘soft loans’ to Proton?
Therein lies the crux of the problem. If DRB-Hicom and/or any Malaysian entities are capable of running Proton, it would have been a Malaysian success. Unfortunately, politics gets in the way. Is it difficult to give up total management control to Geely to rebuild Proton from the ground up or is it a Malaysian pride not to let go when things failed? I opine Geely is taking up the stake in Proton to get their hands on the Lotus brand only. Besides they are in for some rebate on their 49.9% stake when the government eventually reimbursed Proton to the tune of RM1 billion on R&D.
will have no significant impact on Proton eh?
1. DRB wants keep its crony vendors & staff survive.. while they kept on producing sub-standard parts to Proton.
2. But wait, Geely will be having its representatives in Proton’s BOD & top management. So the Chinese will just watch & keep quiet?
Geely wl keep quit. Geely buy shares but wl get their money back via boyue n tech licensing. Get lotus n tg malim too. Proton wl produce boyue by buying platform from geely, people still wont buy. End up loss money again.
after Geely milked LOtus , its time to dump proton back to DRB since they (DRB) like to manage the mismanagement and continue to incur losses. Idiots
kalau bisnes monopoli macam alam flora, pospakom boleh lah, itu pun tak berapa nak untung. kalau bisnes ada kompetisyen semua telungkup…seperti Proton, Double Track, Deftech dan CTRM..
I think is better to manage and lead by geely because if the previous management works proton wouldn’t be as is today. Need some one who really capable of turning over proton to its previous glory.however definitely not The current DRB and current management team of proton.
Easy said than done. With the fund coming from Geely, the local management is “powerless”. Geely will end up calling all the shot.
Geely, what worst can you get for your investment in Proton? Just sell 49.9% shares back to our Govt because does not want Proton bankrupted. Geely no worries of write off your investment. As Govt will have next episode of finding another investment partner for Proton. “Back to square one.” or an infinite loop.
Geely alredy got Lotus in the bag. Let Proton rots in infinite loops of bailouts.
That was bad news. No wonder DRBHCOM share is dropping after announcement.
The Biggest Failure In Proton up til today is the lazy and corrupted management. Now they’re still leading the partnership. Let’s see what the Chinese can do. Sit back, popcorns are ready.
The entire Malaysia manufacturer is just almost same with the lazy and corrupted management, not only Proton.
Cut their arms, sold their kidneys but the stupid brain remains
Please be reminded that Honda also under DRB hicom!
If they apply the same way as how they manage Proton, we might see all the sub-standard product on Honda!
Moral of story, when your leader using race, religion to poison your brain, say others no good without solid evident, then say ur interest is threaten by those “others”, say you reserve your rights….
You need to leave this leader fast! Else, you will see you continue poor, but friend and family of that leader is getting super rich at your expense!
You are absolutely right.
If you look at the discussion threads on low yat forum by Honda Civic and Honda City owners, you will see a bunch of Quality Control issues. From the Honda Civic thread, we can find the following problems:
aircon leaking?
battery fails early, as soon as 5 months
cvt grinding sound on hot restart
burning smell when driving fast? someone said is from tires
rattling sound aircond vent area at driver side – window rubber / door rubber didnt place properly
centre display screen burnt
parts gapping – sometimes gap is too big
tilt sensor blinking
” I pressed the break pedal and want to start the engine. But instead of starting, it’s cycling through the accessories and on state without starting. Had to release and press the break pedal again before it can start. Weird.”
head unit need to reboot sometimes
Wanted to share a statement from my friend.
He say: Proton spend billions on R&D, then claim it from government! Few piece of bumper and light consider R&D???
What is the R&D in Proton term? Rehat and Duduk!
Wow you mean like those perodua cars kah?
Kahkahkah
Hire capable person to manage, don’t use local engineers and designers, terminate low class vendor, close down unresponsive service center, fire those non productive workers and managers, set up better business culture, and etc then rakyat will recognise what is New Proton are? If not, rakyat still refuse to buy this national product.
their leadership is the problem, still let them manage how billion also not enough. Just let the China company fully take control of the management…. ppl started manufacturing cars at the 2002 and 15 years they can already do it till this level proof their management is capable, even volvo 7 years time also turn around.
Ok…now proton is “saved”, P1 can go back to dream land…….and do the usual, what they always excel..Makan gaji buta.
Fortunately or unfortunately our company just lost a tender bidding at Proton , coz we just can’t afford to pay the Duit Raya.
Good, DRB-HICOM continues to manage proton, then the malaysian dream can come true: For proton to tutup kedai for good!
kalau tak suka proton, jangan beli kereta proton aje, senang
Dah lama tak beli. Tapi bila gomen guna wang rakyat untuk bela syarikat persendirian (private company) yg tak habis habis rugi, memang saya marah. Tu wang rakyat, wang cukai saya & awak. Wang cukai yg patut di guna untuk pembangunan, untuk sekolah kolej university, untuk hospital …. Bukan untuk bela syarikat kroni. Senang kan?
we provides our views
we told them what we think
but they will never listen