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December 01, 2006
Into The Scrapyard Of History
Why am I not surprised?
Proton announced yesterday that group net loss stood at RM250.3 million on a revenue of RM1.27 billion for the quarter to September 30 2006. This brings its net loss for the first six months to RM308.9 million on a revenue of RM2.69 billion.The results came amid a period when the automotive industry is still experiencing low sales, lower trade-in values and high interest rates; while tighter credit screening and loan approvals continue to hamper demand for new cars, Proton said in a statement. [Business Times]
Proton needs to push the pedal to the metal and zoom into the scrapyard of history.
And you know what the Government should do next?
Do away with the excise duty on cars and APs, so we can enjoy better cars at more affordable prices.
That way, we will not need to set aside so much of our monthly income to pay the bleeding car loan.
We can then use the money for other things.
Howzabout it, Pak Lah?
You'll make a lot of people happy. And it'll give a boost to the economy as well (you know what the economy is, right?).
Pollution? Provide incentives -- lower sales tax and road tax, for instance -- for the use of "cleaner" cars and fuel.
Posted by aisehman at December 1, 2006 03:28 PM
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Comments
yay!! we're with you aisehman...
Posted by: aaron tan at December 1, 2006 05:52 PM
this is a good idea! move all the proton workers to work on the SJER! hehee
Posted by: Dek Mat at December 1, 2006 06:07 PM
Give the man a break, pulezzzz. How can he govern if every other blogger keeps hammering him to the floor. I bet ya that the amount of koyok and minyak cap kapak that he plastered on his head must make up a pretty big deficit on this year's budget. Why not point the guy to the right direction and sort of whisper into his ears who the culprits are. I mean although many have decided that KJ is Rasputin, what about all those bodek lifters surrounding him. At least KJ's got the balls to run around shooting of his mouth and his foot in the process but you gotta take your hat off to the guy. He's in the forefront leading the charge. All the others are snickering behind, jumping about like activated UMNO beans and hiding their hands when the Bossman turns around to see who is really willing to go all the way. You mean to say we are discussing about Proton??? I hang my head down in shame and here's wishing Tun speedy recovery. Get the Fida, I'll rally the troops.
Posted by: Laimun at December 2, 2006 12:25 AM
It will never happen.Heck, even if the opposition runs the gov and Lim Kit Siang becomes PM it won't happen. Any attempts to manipulate prices even if it means doing away with taxes will cause our car loan to value to hit the roof which equals chaos. A gradual withdrawal of taxes just won't do cos the market will react to the trend and pent-up demand will build which means little or no sales growth. Our dear finance companies will lobby against it.
Posted by: RM at December 2, 2006 01:29 AM
Do you think that is news to the top leadership? Otherwise why do you think they approved the sale to Volkswagen/Peugeot?
Those critics of Proton think that selling Proton to a foreign car company will be the end of the woes for average Malaysian is dreaming.
With the likes of KJ and neuvo UMNOputra around, its not.
What is means is that the manufacturing arm of Proton will no longer be subsidized (as much anyway). The marketing and distribution will still be for a while.(think how twisted this is, subsidizing sales people..)
What this means is that the excise tax will not go away anytime soon. Even if there is complaint later about the ridiculousness of subsidizing sales people, what the govenment will end up doing is just taxing the Proton distribution and marketing like it tax everyone? Why? Because it too much money not to. In fact given the PM record, it will probably be a 'compromise' - lower excise tax and lower tax break for Proton.
Dr. M screwed us all with this project for decades and in billions when he started this whole idea...
Posted by: Bigjoe at December 2, 2006 07:58 AM
Laimun, welcome to Aisehman.org, where we can smell the crap before we see it.
Long before we see it.
Posted by: Aisehman at December 2, 2006 09:05 AM
You gotta be kidding, Aisehman. These thieves will rather let Proton go down the drain first, then continue to issue APs for all the cheap cars that will take the place of the Proton cars - the Geelys, the Cherrys, the Kias, the Hyundais, the Skodas.
They can never wean themselves off the APs, and we won't have cheap cars even if Proton is consigned to the scrapyard.
Posted by: Godfather at December 2, 2006 11:51 AM
Any changes we wish to see will have to come from a different government.
We need to get creative in fighting back, and vote them BN MPs out.
Aisehman, can we have a open brainstorm session here?
Posted by: kengleong at December 2, 2006 11:58 AM
I think many do not realise that Proton is strongly linked to the success of the NEP policy. It is not so much the 'cronism' or all the negative viewed impacts. For a policy like NEP to succeed, the Government cannot always take from one hand and give to another hand with a balance return. Have you ever wonder the amount of taxes the Government received back from the populace that enjoy the affirmative actions. Without a National Car Policy, the Government may never recover the monies given out for the recycling. Everything that goes out must come back eventually. Without Proton, the well oiled perpectuation may collapse and the majority populace will ultimately suffer. Trying to separate weeds from wheat at this stage will only destroy the planting field. Good luck if they want to try.
Posted by: vital at December 2, 2006 07:44 PM
Proton is now offering a 5-year warranty for its cars. A desperate sign to grasp the last breath. Looks like cash flow problem is mounting. Will it be around to honour the warranty?
Posted by: Ciabond at December 3, 2006 12:11 AM
Sources says their manufacturing plant shuts down for a month now bcoz of excess stockpiling.
Can anyone confirm that?
Posted by: megahyper at December 6, 2006 02:00 PM
Too bad that when Proton is forced to shut down its massive overcapacity and cancel contracts with its suppliers, hundreds, if not thousands, of innocent workers will be on the streets, all alone in the face of the declining Malaysian manufacturing industry. And where will the cronies, the ex-executives, the owners of the supply companies who got contracts under questionable circumstances, and the local politicians? Laughing their way to the bank in their foreign made Mercs, BMWs, and Porsches. Only in Malaysia will a common thief get a 10-year jail sentence, while those who steal, directly or indirectly, from the coffers of the people, get a Datukship. These immortal words still ring true: All Animals Are Equal, But Some Are More Equal Than Others...
Posted by: Jebat at December 7, 2006 11:57 PM