Our Malaysia car maker Proton Holdings Bhd is selling its controlling stake in debt-ridden Italian motorcycle manufacturer MV Agusta SPA for a nominal euro 1 (US$1.19) in cash. Proton paid euro 70 million (~ USD60 million) for its 57.8% stake in Agusta in 2004. [via thestar online]
Another brilliant business decision by Malaysia corporates!! I don’t blame Proton for selling a company for $1 if the company is losing big money, what I am disgusted about is why Proton decided to buy Agusta at the first place?
Where is the business research? Who is with the fucking brain to make that kind of decisions? Who is going to take the responsibility? I want answers, Malaysians want answers!
Proton has been in honeymoon for 20 years with dominance in the domestic market, but Proton had yet to excel in the global market after 20 years of development. Buying other auto manufacturers will not help in making Proton global.. its the research, performance uality, design and branding that matters.
Lets face the truth, in Malaysia people are buying Proton not because it’s good, it’s just that imported cars are expensive due to taxes. With the protective tariffs lifting soon, I wonder how Proton is going to compete with other imported cars in Malaysia.
Thanks Proton for another reason not to buy their cars, as a Malaysian I am utterly disappointed with this news.
December 27th, 2005 at 7:23 pm
If Proton realised the mistakes that they are doing way and actually did something to counter that way earlier before, it would have been different situation than now.
As for MV Agusta. Good bikes, yet bad company management.
December 27th, 2005 at 8:15 pm
Proton is making fun of themselves?? again??
December 27th, 2005 at 10:07 pm
I hate the fact that Proton never learned from their mistake.. the previous investment (is it Lotus?) already turned out as failure, and yet another disastrous decision was made again.
Ya, Malaysia Boleh..
December 28th, 2005 at 12:19 pm
Malaysia Boleh
August 13th, 2007 at 7:39 pm
somehow came across this blog, although its an old posting, i though i just drop my 2 cents in..
although many mistakes have been made by proton, its at least good to know that the current new management have been working hard to turn the company around, and implement some good practices and get rid of the old.
as of the latest news, Lotus today is headed for profit by the end of this year. The 1st time ever since proton bought them.
also, they ahve 2 new models in the pipeline, with one launching soon. They have also expanded their export business and concentrated on the strong ones.. also, they just signed a huge deal with a company in China for the long-term.
so i suppose there is some good yet, and the company is still here and workign hard to turn itself around. as a malaysian, i’m proud of that and still want to see proton succeed no matter what their critics say.
August 13th, 2007 at 9:21 pm
gary… I hope Proton is turning around things as you mentioned; they have been rotting for quite a while now.