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Friday, June 2, 2017

Najib: Proton could lose RM1 billion annually if not restructured

Najib says in 2016, the government assisted Proton with a soft loan of RM1.5 billion, while this year, there was an additional request for RM1.1 billion for research and development.
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SEREMBAN: National automotive company Proton is expected to lose RM1 billion annually if not restructured, says Prime Minister Najib Razak.
He said last year, the company suffered a loss of RM500 million on the back of discouraging sales of about 72,000 units at 6,000 monthly.
“The government in 2016 assisted with a soft loan of RM1.5 billion, and this year, there was an additional request from the aspect of research and development (RnD) of RM1.1 billion.
“We are using the people’s money to save Proton as 60,000 people are dependent on the company… so for how long more?” he said in his speech at a breaking of fast event and the launch of phase eight of the Rural Streetlights Project at the Paroi Jaya mosque here today.
Also present was the prime minister’s wife, Rosmah Mansor, Youth and Sports Minister Khairy Jamaluddin, Negeri Sembilan Menteri Besar Mohamad Hasan and Malaysia’s ambassador to Cambodia Hasan Malek. -FMT

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