Former Proton chief unhappy with local automotive industry

Former Proton chief unhappy with local automotive industry

Former Proton Holdings Berhad chief executive officer Tengku Mahaleel Ariff is unhappy with many things in the local automotive industry, from Approved Permits and cars from Korea and China, to the sale of MV Agusta.

He alleged that the Government lost about RM1 billion as a result of under-declarations on the value of imported motor vehicles through APs.

"We can definitely make good use of this amount of money to contribute to the oil subsidy, which in turn will keep petrol prices at bay," Tengku Mahaleel said in a speech at Universiti Sains Malaysia today.

He hit out at the special treatment given to imported Korean and Chinese cars prior to the signing of the Asean Free Trade Zone (Afta).

He also questioned the delay in the unveiling of the Third Industrial Master Plan (IMP3), as the Second Industrial Plan (1996-2005) officially ended on Dec 31.

On Agusta, he said the Italian motorcycle manufacturer was a profitable company and Proton had paid 70 per cent of the acquisition price of E350 million (RM1.5 billion) in 2004, but ended up losing the opportunity to garner a potential 30 per cent in revenue contribution.

"How could the deal be off? Please enlighten me," he said.

Tengku Mahaleel, however, declined to comment on the subject of Proton abandoning the collaboration agreement with Volkswagen AG.

"I am no longer on the board, so please forward this question to Proton officials."

Comment:

I do agreed with TM the AP system is Bullshit, Only good for some so-called AP kings and no good for RAKYAT.
For Local Automotive industrial, I think if PROTON's car is good I don't think people want to buy CHINA and KOREAN cars? I think is Not good just blame due to AP and imported cars, TM also should agreed his faults too.
I am wondering, Why TM said the MV Agusta can be profitable??? 30%? Opportunity? Anybody knew it?
YAU MOU GAU...CHOR!!