October 17, 2012
PROTON A Raw Deal for Malaysian Taxpayers
by Nawawi Mohamad, Malaysia Chronicle
Perusahaan Otomobil Nasional or PROTON does not go to, neither is it controlled by, anybody who is unequivocally meddlesome in creation cars as well as profit. The main interest of everybody connected with a using of PROTON appears to be to have income out of a inhabitant automobile project.
The employees, from a lowest turn to a CEO as well as shareholders have been usually meddlesome which by a finish of a month they will get their salary, bonus as well as yearly dividends. The typical employees have been additionally just hoping for increments as well as promotions, as well as when they have been hospitalized, they will direct a best medical benefits as well as explain a highest hospital bills. Every year similar to their CEO, they as well hope for windfall bonuses too.
The vendors supplying a over three thousand components have been additionally meddlesome in creation money. They will cheat anybody in PROTON they have to in sequence to secure their deals. Their products have been often of obtuse than specified peculiarity but they will do all sorts of tricks similar to holding PROTON at release by loitering delivery of a components until a critical stages of production.
In other words, PROTON executives unfortunate to meet prolongation targets will tighten as well as eye since there is no time to wait for uninformed deliveries. Proton has no choice but to accept poor peculiarity products as well as incorporate these into a cars they produce. Guess who is a ultimate 'beneficiary' or victim yes, it is a buyer.
False efforts
When DRB-Hicom bought a 42.7 per cent stake in PROTON from Khazanah
Nasional Bhd for RM1.29 billion in Jan this year most people were skeptical whether it would attain in branch itself around.
They were in truth right to design negative results because DRB-HICOM does not have a much-needed income to inject into a inhabitant automobile maker. No a single in a marketplace was surprised when a week after a understanding went through, a first sequence of commercial operation for DRB-Hicom's Managing Director Mohd Khamil Jamil was to go to Maybank asking for money, if not vagrant for it.
In any outrageous venture, it would be most prudent to study, scrutinize, guard as well as understand a commercial operation inside out so which a viable devise could be lifted as well as implemented prior to pouring so most income into a venture. Unfortunately, it appears DRB-HICOM did not do a homework well! After taking over PROTON, DRB-HICOM simply does not know what to do with it!
"Everybody is waiting to see what DRB-HICOM skeleton to do with PROTON. We have been working upon a devise right away as well as hope to come up with it by subsequent month," certified PROTON's CEO Che Khalib Mohamad Noh after a MICPA-Bursa Malaysia Forum 2012 in Kula Lumpur.
"DRB-HICOM Bhd will come up with a brand new commercial operation devise for PROTON Holdings Bhd subsequent month."
But a fact which Khalib declined to blow up obviously shows which DRB-HICOM does not have a plan! Yet it refused to occupy people who unequivocally have been meddlesome in creation cars as well as profits.
Both Khamil as well as Khalib have been typical ti! p manage ment individuals who have no knowledge in automobile manufacturing. Khamil has said at a group's annual general meeting not long ago which a firm skeleton to deliver a unfamiliar partner to PROTON. This obviously indicates which both of them have been unequivocally fuzz as well as need unfamiliar help badly.
They should know which unfamiliar partners won't be easy to come by since PROTON's political connections. Who isn't wakeful which it is a 'connected' firm which creates income by manipulation, bail-outs as well as not real business? Who would wish to risk their investment in PROTON then?
Learn from other troubled automobile makers
Lee Iacocca was the"moving force" behind Ford as well as he regenerated a troubled
Chrysler when he was a CEO. The same thing with Carlos Ghosn of Renault when Nissan allocated him as a CEO in 1999 as well as he succeeded in branch a losing automobile manufacturer's USD6.1 billion losses into a net profit of USD2.7 billion within three years.
DRB-HICOM's own dilly-dallying in trying to revitalise PROTON shows how entrenched public scorn as well as doubt is for this project. To most Malaysians, a usually suspicion in a minds of a PROTON tip management is how to lift out as well as have as most income as possible from a PROTON shares they will eventually dispose of.
No doubt, PROTON can design 'deja-vu' to recur. It will again be left similar to an unwanted orphan as well as UMNO will afterwards make use of taxpayers' income to bail it out upon a pretext of inhabitant interest. But 'national interest' my foot! The understanding certainly seems to be all for UMNO leaders as well as cronies.
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