October 17, 2012
PROTON A Raw Deal for Malaysian Taxpayers
by Nawawi Mohamad, Malaysia Chronicle
Perusahaan Otomobil Nasional or PROTON does not belong to, neither is it controlled by, anybody who is unequivocally meddlesome in creation cars as well as profit. The main seductiveness of everybody continuous with a using of PROTON appears to be to make income out of a inhabitant automobile project.
The employees, from a lowest level 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 ordinary employees have been also just anticipating for increments as well as promotions, as well as when they have been hospitalized, they will demand a best medical benefits as well as explain a top sanatorium bills. Every year similar to their CEO, they as well goal for windfall bonuses too.
The vendors supplying a over 3 thousand components have been also 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 though they will do all sorts of tricks similar to land PROTON during ransom by loitering smoothness of a components until a vicious stages of production.
In other words, PROTON executives desperate to encounter prolongation targets will tighten as well as eye since there is no time to wait for for fresh deliveries. Proton has no preference though to accept poor peculiarity products as well as incorporate these in to a cars they produce. Guess who is a ultimate 'beneficiary' or plant yes, it is a buyer.
False efforts
When DRB-Hicom paid for a 42.7 per cent stake! in PROT ON from Khazanah
Nasional Bhd for RM1.29 billion in Jan this year many people were doubtful whether it would succeed 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 in to a inhabitant automobile maker. No one 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 huge venture, it would be many advantageous to study, scrutinize, guard as well as assimilate a commercial operation inside out so which a viable devise could be lifted as well as implemented before pouring so most income in to a venture. Unfortunately, it appears DRB-HICOM did not do a task well! After taking over PROTON, DRB-HICOM simply does not know what to do with it!
"Everybody is watchful to see what DRB-HICOM skeleton to do with PROTON. We have been working on a devise now as well as goal to come up with it by next month," admitted 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 new commercial operation devise for PROTON Holdings Bhd next month."
But a fact which Khalib declined to blow up obviously shows which DRB-HICOM does not have a plan! Yet it refused to employ people who unequivocally have been meddlesome in creation cars as well as profits.
Both Khamil as well! as Khal ib have been ordinary top government individuals who have no experience in automobile manufacturing. Khamil has pronounced during a group's annual ubiquitous meeting recently 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 domestic connections. Who isn't wakeful which it is a 'connected' firm which creates income by manipulation, bail-outs as well as not genuine business? Who would wish to risk their investment in PROTON then?
Learn from other troubled automobile makers
Lee Iacocca was the"moving force" at a back of Ford as well as he revived a troubled
Chrysler when he was a CEO. The same thing with Carlos Ghosn of Renault when Nissan appointed him as a CEO in 1999 as well as he succeeded in branch a losing automobile manufacturer's USD6.1 billion waste in to a net distinction of USD2.7 billion inside of 3 years.
DRB-HICOM's own dilly-dallying in trying to revitalise PROTON shows how confirmed open scorn as well as disbelief is for this project. To many Malaysians, a usually suspicion in a minds of a PROTON top government is how to pull out as well as make as most income as probable from a PROTON shares they will in the future draw up of.
No doubt, PROTON can design 'deja-vu' to recur. It will again be left similar to an unwanted waif as well as UMNO will afterwards make use of taxpayers' income to bail it out on 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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