Sunday, January 18, 2009

Talks to Save Proton failed

Hope Proton can recover.

According to a report by The Edge, talks between the car manufacturer Proton Holding Bud and Europe's largest manufacturer, Volkswagen AG and Volkswagen-known manufacturers of components --- Van started last year was exacerbated by the function that the government Hopes Malaysia.

The weekly newspaper said that officials of the Proton and Volkswagen met repeatedly, but no concrete agreement was signed. The newspaper added that the talks were not so good and it seems that the German car maker has something "cool" and less in recent endeavor.

The newspaper also quoted a source familiar with the situation with the words: "This period could serve as my doubts." The government in Malaysia is also under pressure to announce the details of the partnership for the loss of Proton, its status as the country "s biggest rival Perodua Vehicle Service. The Government believes that the new Proton, the partnership with Volkswagen, it can help.

Proton announced last week for the third quarter in a row of losses, it’s a competition to sales and stagnation. The company receives a net loss of 281.45 million RGT for the third quarter compared to net income at the end of December, he took a year earlier, amounting to 86.51 million RGT.

The Second Finance Minister or Mohamed Yak cop said that the government would be the publication of an advertisement on the Proton strategic partner in this month. Nobody knows whether it is still Volkswagen or any other company. But, according to The Edge newspaper: "If this timetable is consistent, the so-called General Motors, the largest car manufacturer in the world, could be the partner of choice for the phototherapy.

The main goal, a partnership with Proton foreign automotive industry is to further reduce its market share that competition is increasing. It should be noted that, if possible, a new partnership with Volkswagen on the run from the proton, but after the announcement of the partnership was not confirmed by Proton plunged.

Apart from Volkswagen, Proton was also in talks with General Motors and PSA Peugeot Citroen in France more than three companies in the automotive industry, which showed interest in Malaysia for the purchase of shares in the company. It should be noted that the Government of Malaysia has 59 percent of Proton, including a stake of 43% owned by Khazanah Nasional, the investment arms of the government.

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