Proton Loss 11.5 times More Than Last Quater
November 30th, 2005 at 11:13am tiger Entry Filed under: Auto News, Malaysia
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National car maker Proton’s pre-tax losses for the second quarter of this year widened further to RM158 million from a loss of RM4.3 million in the first quarter due to provisions made to loss making motorcycle maker MV Augusta of Italy which it owns.
Of the RM160 million, RM41 million was due to about 3,000 engines in its inventory whose warranty had lapsed, and RM36mil for a mismatch of warranties between international customers and domestic component suppliers and RM13 million was miscellaneous.
Proton share price continued to drop from yesterday. Proton Score RM7.00 drop Rm0.40 this morning.
“We are thinking whether we should continue investing in MV Augusta,” Mohammed Azlan (proton New MD) said, adding that motorbikes were something new to Proton.
Meanwhile the talk with VW still in the progress. And i think this is a long way to go…
Category : Auto News, Malaysia
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