Saturday, January 7, 2012

Proton, AP and Cronies

1) The issue on the selling of Proton shares by Khazanah has created a great deal of attention and concern from me. There were many issues that need to be addressed by Khazanah in great details because its deal with a public fund since the national car Proton is national belonging.

2) I am looking as a concerned public towards its national car, not as businessmen, who look at it in the profit and loss view. There are many people out there trying to justify their point of views, unfortunately most of their views are very self centered kind of view. Accusing weak leadership of Khazanah as majority shareholder in Proton, enriching certain AP holders by putting high fees of tax and duty which consequently creating exorbitant  price of foreign passenger cars in the market.

3) Ironically, our local car market still growing even-though the price of imported recon and new cars inflated. It shows the people still willing to pay even-though they need to pay at higher price, so it is people right of freedom to choose, so I found there was no firm ground to blame government on this issue. We could argue and criticizing government for putting Proton as national car by sacrificing people money who's ironically still buying imported cars at "exorbitant price". These are the same people who willing to enrich certain AP holders, even-though has been told about it. The analogy that I could used is, the house owner who is blaming raider for stealing his monies and belongings, but not blaming himself for letting his door wide open.

4) Coming back on the issue of selling Khazanah shares in Proton to other bidders, I hope the government and Khazanah would ensure that Proton remain as national car after new owner took over the company. To me Proton is national treasure, there were a greats deal technological affect that Proton could contribute to the nation [although there are many people don't subscribe to it], but I was entitled to my point of view.

5) On Datuk Nadzmi bids to acquire Khazanah shares in Proton, and his plan to sacrifice Proton key asset in its manufacturing plant in Tanjung Malim and selling Lotus cars has also make me worry. It was clearly he has own agenda to make Proton back to profitable, which eventually means to enriching himself by scarifying Proton as national car agenda. That was a true analogy about enriching certain cronies, not as what being perpetuated by certain bloggers.              

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