Prime minister Tun Dr Mahathir Mohamad has dismissed concerns of Khazanah Nasional’s wholly-owned subsidiary SilTerra’s involvement in the upcoming new national car project (NNCP) as an indicator that public funds would be used to fund the endeavour.
In a report by Bernama, the premiere responded to MCA deputy president Datuk Seri Dr Wee Ka Siong’s statement that SilTerra’s involvement represents a backtrack on the government’s promise not to involve public funds with the project, and that only the private sector would provide financial backing.
“Khazanah is not (the) government, it is a company and they are quite free to do business. If there is a company in Khazanah that is interested (to participate in the project), they can invest,” said Mahathir during a press conference after chairing Pakatan Harapan’s presidential council meeting recently.
SilTerra is a Malaysian semiconductor manufacturer founded in November 1995 and was formerly known as Wafer Technology prior to a name change in 1999. Headquartered in Kulim, Kedah, the company is also responsible for high technology investments in the country, and has served many top-tier global fabless design and product companies involved in consumer electronics, communications and computing, and mobile devices.
The company’s name was brought up during a media briefing on the project yesterday, whereby entrepreneur development minister Mohd Redzuan Yusof said, “we are now shortlisting two to three partners to participate in this project, including SilTerra and CTRM, and expect things to be concluded by year-end.”
We were also told then that the vehicle originating from the NNCP will make its debut in 2020, and come packed with quite a bit of technology, including semi-autonomous capabilities, advanced safety features, connected services and hybrid powertrains. A prototype is expected to be revealed in early 2019, ahead of an official name drop later this year.
Whether Silterra is involved or not does not matter. The 3rd national car project is just bad news for the rakyat. Full stop. This will be another Proton.
Another car means just like Proton, rakyat will suffer another 30 yrs because this company also have to be protected like Proton.
In 1985, brand new Toyota Corolla in Malaysia RM20k
Fresh graduate gaji was RM1200
In 2018, brand new Toyota Corolla Altis is RM139k
Fresh graduate gaji is RM2500
Because of corruption and protectionism towards Proton, our Ringgit became so weak and our pay packet did not grow with inflation.
In 1985, many Malaysians could afford to buy a Toyota Corolla. In 2018, how many Malaysians can afford a Toyota Corolla?
We have to thank Proton for all this. Now we going to thank 3rd car project when non national cars shoot up again.
Here we go again
The truth hurts but facts are facts. We cannot be sweeping problems under the carpet like how we were doing the past 60 years.
Cars are pricey because corruption was too much before. All contracts given to the abang abang suppliers and vendors. They overcharge car companies.
Tax and excise duties were always to be blamed but the truth is, it is corruption
Last time also same. Initially Proton also okay then when got no money, they bailout.
Even under DRB Rule also and supposed to be non Government, Proton got so many bailouts from Government.
Government before lied to us many times saying Proton was private under DRB and no more Government linked.
Despite under DRB, how many times given RM1.5 bil, RM1.8 bil etc etc bailouts???
True. The same thing definitely gonna happen in the future all to satisfy atuk’s craving.
Well said. Perfectly said. Older generation knows this.
Old Gomen promise to reduce car prices by 30%. But they cheated us.
Old Government acknowledged car prices were unaffordable and promised to reduce 30%
New National car is a waste of money and more suffering to the rakyat. The rakyat already suffered so much with high car prices the past 30 years because of protectionism towards Proton. Because Proton was protected, all non national car prices went up by 700%
You see, in the late 80s, a brand new Nissan 130Y or a Toyota Corolla was only RM20k. 30 years later in Malaysia, the Toyota Corolla Altis in Malaysia has jumped 700% to RM139k
But in Japan, the same Toyota Corolla has only gone up 50% in price from 1985 to 2018. (50% vs 700%)
So how come Malaysia, the Toyota Corolla went up to RM139k which is 700% increase? The answer is very clear. It is sheer protectionism towards Proton. Cars globally have actually gone up super slow the past 30 yrs because of automation, economies of scale and volume selling.
So, rakyat had to suffer the past 30 years with super high car prices and super high car loans. It is estimated that if Proton was not born, Rakyat would have spent RM300 billion less on cars the past 20 years.
We don’t need another nightmare.
In 1985, before Proton was born, a brand new Mercedes Benz 200 was RM57k. Many Malaysians could afford to buy a Mercedes.
Infact, it was so cheap that many teksi drivers bought Mercedes as their teksis. In the 80s, there were thousands of brand new Mercedes 240D and 300D Mercedes as teksis in Malaysia.
Today in 2018, the Mercedes is RM400k. Who really can afford? By the way, the German price in Europe for the E200 from 1985 to 2018 has hardly gone up by 70% in price.
Do you know why our Mercedes has gone up from RM57k to RM400k from 1985 to 2018? (nearly 700% increase)
The answer is Protectionism Towards Proton. Now, history repeats…..protection towards 3rd national car. One day, the Mercedes E200 will be RM800k when Protiga is protected
I bought my Volvo 244GLM for RM39k. That was brand new.
I was earning RM1500 as a School Teacher.
No concerns other than the fact that Silterra & CTRM has no experience nor synergy with the mass automotive market. At least DRB Hicom was involved in heavy engineering b4 P1.
They haven’t even named which Japanese automaker that will provide such wonderful techs like hybrid & EV powertrains, semi-autonomous drive, and all that at the affordable prices to the people.
Where in the world got such “frogs jumping?”
Agreed. Lolz!
So… when TunM came as chairman into Khazanah it is a govt investment arm n GLIC with lots of money in its coffers… which is public money. When Khazanah’s subsidiary enters into this much questionable 3rd national car project… it is now regarded as a private company… of coz with a parent company that has lots of money in its coffers.
Oh yeah, sure… this will definitely n totally not involve public funds.
It is a sad, sad day…
Robert Kuok should advice TUN….To make a mistake once( Proton 1.0,costing rm 20 billion ) is bad enough,but to make the same mistake twice is called ‘INSANITY”
Why wud he when hes gonna make billions from this?
Now one-man show, those old fellow can say what
Our Government has no clue or direction with the 3rd national car project.
Yesterday was the biggest joke when they announced that the car would be semi autonomous.
The evolution process of a car manufacturer is after petrol NA is to go to turbo, then into electrification starting with hybrid then slowly into EV
Our 3rd car project, just want to lompat straight into autonomous immediately. Malaysia has no expertise in this area. Even Tesla, with their Harvard and Stanford engineers also still cannot get autonomous right with so many accidents. Don’t forget, Tesla also got billions USD to research on this and yet, they still cannot do it.
Third National Car project must come into reality.
Already Proton failed big time and we have to tanggung malu and sell Proton to China for a cheap RM170 million
Isn’t that shame enough?
Government spent over RM20 billion to keep Proton alive and we sold the company for a mere RM170 million, losing Lotus and losing Proton’s land worth RM5 billion in Shah Alam.
I think Malaysians have suffered enough of losses. We suffered too much with expensive car prices because of Proton. Enough of our suffering
Pls use our money for better purposes like building more schools and hospitals.
If EV segment.. go ahead..
if still fossil fuel vehicle, lupakan je laa..
Seriously? I tot the G listens to the people.
Ya, they listen and ignore
So a country’s sovereign fund entity is not goverment but the capitals and funding came from where or whom?
No Wonder they wanted this 3rd National car project…be’cos it’s gonna be “Autonomous”…
This is the typical Malaysian Culture ..Workers gone missing (Kuih & teh-tarik sessions) everything run on Autonomous settings, that’s why when we apply for anything thru the Gomen depts. takes donkey years to get it settle.
So they wanted another bottomless pit to suck the rakyat’s hard earn monies for them to goyang kakis again?
You reap what you had sown
haha u all voted for this..so stop squealing..and accept ja…
The Malaysian car industry can seriously GTH better. Alreadi have two cursed brands especially Perodua, Jaguh Kampung and Proton, this 3rd one can mampus terus.
Our car industry looks condemned forever with Proton, Pundekdua and this upcoming crap compared to Canada, Thailand, Singapore and Indonesia where there are no cursed National car projects. GTH la these jokers. 2019 coming, still want to make Malaysians look like morons on the roads compared with other more advanced countries. LOL.
But but but jepunis cars are ugly, look like frog, catfish, pig, crab, shrimp etc
u tak concern, tapi we all concerned