Same old story...
Malaysia to decide on a partner for Proton Holdings Bhd within the next 3 months....sounds familiar? Well the Proton Holdings Bhd. reported its fourth straight quarterly loss....citing reasons such as lower car sales and declining margins..... innovative is the key word.
Proton posted a loss for its fiscal fourth quarter, ended March 31, of about a mil.
For the year, Proton's loss totaled 591.4 million ringgit, compared with a net profit of 46.7 million ringgit a year earlier. Well, the model does not work anymore?
Fourth-quarter revenue fell 29% to 1.27 billion ringgit. For the year, revenue was 4.92 billion ringgit, down 37% from 7.8 billion ringgit...any reason why?
The company, 43%-owned by state-owned investment firm Khazanah Nasional Bhd., sold 110,358 cars in the 2007 fiscal year, down 40% from a year earlier.Separately, Malaysian Prime Minister Abdullah Badawi wants Proton to seek talks with other auto makers about a strategic tie-up, after Volkswagen AG turned down a proposal to take an equity stake in the company."I have decided, since Volkswagen is not interested in the proposal that Proton wants in terms of equity, Proton needs to talk to other people," Mr. Badawi said Thursday.
Like I said earlier, anyone with brain would say no to such deal... it's a no deal!
Meanwhile, Proton expects conditions to remain challenging because of higher costs for components and intense competition....why didn't the management anticipated this?... short sighted? It expects sales to improve in 2007 with the continuation of promotions and the introduction of models in the third quarter.... i doubt.
Proton posted a loss for its fiscal fourth quarter, ended March 31, of about a mil.
For the year, Proton's loss totaled 591.4 million ringgit, compared with a net profit of 46.7 million ringgit a year earlier. Well, the model does not work anymore?
Fourth-quarter revenue fell 29% to 1.27 billion ringgit. For the year, revenue was 4.92 billion ringgit, down 37% from 7.8 billion ringgit...any reason why?
The company, 43%-owned by state-owned investment firm Khazanah Nasional Bhd., sold 110,358 cars in the 2007 fiscal year, down 40% from a year earlier.Separately, Malaysian Prime Minister Abdullah Badawi wants Proton to seek talks with other auto makers about a strategic tie-up, after Volkswagen AG turned down a proposal to take an equity stake in the company."I have decided, since Volkswagen is not interested in the proposal that Proton wants in terms of equity, Proton needs to talk to other people," Mr. Badawi said Thursday.
Like I said earlier, anyone with brain would say no to such deal... it's a no deal!
Meanwhile, Proton expects conditions to remain challenging because of higher costs for components and intense competition....why didn't the management anticipated this?... short sighted? It expects sales to improve in 2007 with the continuation of promotions and the introduction of models in the third quarter.... i doubt.
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