| The shares of the troubled Malaysian
| |
| | will have to invest few hundred million
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| carmaker Proton has increased slightly
| |
| | ringgits to get the company started.
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| last Monday after reports has come out
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| | Proton's state investment arm Khazanah
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| that its deal with Europe's largest
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| | Nasional is the controlling shareholder
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| automaker and producer of top-of-the-line
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| | in proton owning 42.74 percent stake.
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| quality VW Beetle parts is getting closer
| |
| | Meanwhile the state pension fund EPF and
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| to a deal.
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| | the national oil firm Petronas have a
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| Analysts said that such positive news
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| | share of 12.07 percent and 8.84 percent
|
| matched with a plan of the government to
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| | respectively.
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| remove cars that are 15 years old and
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| | Khazanah's Managing Director Azman
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| older have lured investors to the
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| | Mokhtar has set the end of this year as
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| company. According to the Edge business
| |
| | the deadline for the completion of the
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| newspaper last Monday, "Malaysian
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| | deal with Volkswagen.
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| representatives of Proton's stakeholders
| |
| | Analysts have also attributed the
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| have inched closer to a final deal with
| |
| | increase in Proton shares to government
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| Volkswagen."
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| | programme which will scrap old cars
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| Proton's shares were up by 0.05 ringgit
| |
| | giving Proton the opportunity to increase
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| or 0.86 percent and close at 5.85 ringgit
| |
| | its sales. According to the Edge business
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| after reaching as high as 6.10 ringgit in
| |
| | magazine the said programme was aimed to
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| late trade.
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| | boost Proton's sales. Quoted on the
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| Volkswagen met with Proton for the third
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| | magazine: "It has been decided that those
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| time in Germany recently after its
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| | who voluntarily scrap their cars will be
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| earlier meetings in Thailand and the
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| | offered a subsidy to buy a new Proton
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| United States. The foreign tie-up with
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| | car. The subsidy will be on a scale with
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| Proton is very important for the
| |
| | a maximum of 5,000 ringgit."
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| Malaysian automaker in order for it to
| |
| | Last Monday Aseambankers has also
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| stop the decline in its market share and
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| | expressed its plan to reinforce Proton's
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| to stop incurring further losses.
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| | share price and was quoted by the Edge
|
| The Edge business newspaper has also
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| | saying, "although we remain cautious of
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| pointed some details of talks wherein
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| | Proton's ability to deliver more than
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| Proton will still be controlling its
| |
| | marginal profitability."
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| domestic distribution network while
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| | It can be noted that Proton has lost its
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| Volkswagen will take care of the
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| | status as Malaysia's biggest-selling
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| international distribution.
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| | automaker to its rival Perodua and just
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| The Edge has also stated that Volkswagen
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| | recently has reported net losses reaching
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| may be required to cash out for its 51
| |
| | as high as 591.36 million rinngit or
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| percent equity in Proton. Volkswagen
| |
| | $172.4 million through March 2007.
|
