According to a report by The Edge, talks between the automaker Proton Holdings Bhd and the largest carmaker in Europe, Volkswagen AG and Volkswagen Van parts --- reputable manufacturers that were initiated last year is not implemented what I hope the Malaysian government.
The newspaper reported that officials from Proton and Volkswagen had met several times, but no concrete agreement has been developed. The newspaper added that the negotiations go well, and it seems that the German manufacturer has cooled down a bit "lately, and seemed less anxious.
The newspaper quoted a source familiar with the situation by saying: "This delay could reveal some doubts." The Malaysian government is also under pressure, the conditions of the partnership for the loss-making known as Proton, which has lost status in the countries most automobile manufacturers Perodua sold competitors. The Government believes that new partnership with Proton, Volkswagen can help them recover, too.
Proton announced last week its third consecutive quarter of losses which it blamed increased competition and weak sales. The company received a net loss of 281.45 million ringgit for the third quarter to December compared to a net result, he made one years ago ringgit of $ 86.51 million.
Second Finance Minister Nor Mohamed Yakcop said the government would publish an announcement on the strategic partner of the proton in this month. Nobody knows if this is still Volkswagen or any other company. But the newspaper said The Edge, "If it is strictly adhered to this schedule, sources say, General Motors, the biggest carmaker in the world could be the preferred partner for Proton.
The main objective of the partnership with Proton with a foreign manufacturer is heated to prevent a further decline in its market share as competition. It should be noted that if news had escaped about a possible partnership with Volkswagen, the actions of protons has increased, but following the new partnership was not confirmed by Proton's shares plunged.
Apart from Volkswagen, Proton is also in talks with GM and PSA Peugeot Citroen in France, and about three Malaysian automotive firms were brought interest in buying shares in the company expressed. It should be noted that the Malaysian government, 59 percent of Proton, including a 43% of Khazanah Nasional, the investment arm of the government has in possession.
