Thursday November 22, 2007
PM: Give Proton a chance
By MERGAWATI ZULFAKAR
SINGAPORE: Proton is doing well and should be given a second chance to turn around like Malaysia Airlines, said Datuk Seri Abdullah Ahmad Badawi.
The Prime Minister said the question of a bailout did not arise as the management of the national car-maker had proven that its turnaround programmes were successful.
“Proton is doing very well today. It has secured agreements to export its cars to China, India, Indonesia and some countries in the Middle East and it is coming out with new models.
“I think Proton has been successful and the Government has asked that Proton should have its turnaround similar to MAS’.
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Media statement: Abdullah speaking to journalists during a press conference at the Raffles City Convention Centre after attending the Asean Summit and related meetings in Singapore yesterday. With him is Foreign Minister Datuk Seri Syed Hamid Albar. — Bernama |
On Tuesday, Second Finance Minister Tan Sri Nor Mohamed Yakcop said negotiations for Proton between Khazanah and two major international car manufacturers – Volkswagen and General Motors – had been called off.
Nor Mohamed added that there would be no foreign partner for Proton for the time being as the national car manufacturer was showing signs of a turnaround.
The Prime Minister, when asked if the Government would rule out future tie-ups, said: “I certainly do not want to rule that out in the future, but I think Proton will be in a better position to be a good strategic partner in future.
“At one time when the strategic partnership was being considered, Proton was in a very bad situation.
“But the management has proven that it can turn around the company and I believe that it will be successful,” he said.
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