A concerned Malaysian writes about Malaysian affairs. "You are the Change you Seek" Barack Obama

Monday, July 14, 2008

LOSING RM350M Just on Some PROTON Whims?

This feature in malaysiakini should qualify as the financial blooper of the decade:
"Agusta: Proton sells for RM5, Harley buys for RM350 mil"

I wonder how our whizz kids made the decision to give away the company for free after having spent more than RM368m to purchase the company in 2004.
Within 2 years the Proton board decided to write off the entire investment.

Who is going to awswer the tough questions as to how this came about and who were the consultants?
I know most Malaysians feel that Proton as a car is hadly giving them a good ride but this multi-million write-off is really taking us all for a very expensive ride.

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