30 May '17, 2pm

Geely deal to free Proton from gov’t subsidies – MP https://t.co/G58gKoAWxu

A member of parliament says that Proton’s strategic partnership with Zhejiang Geely will bring about many benefits and free the national automaker from perpetual government subsidies, Bernama reports. Datuk Ahmad Fauzi Zahari, the MP for Setiawangsa, said the subsidies given to Proton since its inception had run into billions over the past 30 years, at great expense to taxpayers, and could not go on forever. “I support the view of Second Finance Minister Datuk Seri Johari Ghani who hopes that moving forward, there will be no further subsidy for Proton and that it will be able to stand on its own feet without asking for government help. The government now cannot afford to continue to put good money into bad business. We have to cut bad business off,” he said. He said that the tie-up with Geely would bring about increased production and earnings for Proton. Though Proton’s c...

Full article: https://paultan.org/2017/05/30/geely-deal-to-free-proton-...

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Proton to be acquired by China’s Geely; deal includes purchase of 49% stake plus takeover… https://t.co/6koHyNmHzz

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