Caaa Clutched November 24, 2004 Share November 24, 2004 (edited) Extract from Yahoo News "Wednesday November 24, 11:29 AM Singapore's GIC buys 5 pct of Malaysia's Proton http://sg.rd.yahoo.com/SIG=12agucl28/M=318...101268169172554? KUALA LUMPUR, Nov 24 (Reuters) - The Government of Singapore Investment Corp Pte Ltd (GIC) has bought a 5.04 percent stake in Malaysia's Proton Holdings , emerging for the first time as a substantial shareholder of the carmaker, Proton said. GIC is a state investment firm which manages Singapore's foreign reserves and holds a wide range of mainly blue chip assets from Japanese and Korean real estate projects to U.S. bonsd an equities. Proton said in a statement late on Tuesday that GIC bought a total of 27.6 million shares or 5.04 percent in the company at an undisclosed price. Proton shares were up 3.3 percent at 9.30 ringgit ($2.45) by 0303 GMT. Proton said the deal was done on November 9, the day Japan's biggest trading house, Mitsubishi Corp. said it was not looking to sell its stake in Malaysian carmaker Proton in the wake of Proton's move to link up with Germany's Volkswagen AG . Mitsubishi Corp, a founding member of the Proton project to develop a Malaysian car-making industry, still owns 7.93 percent of the state-controlled carmaker. The Malaysian government owns 45 percent. Speculation about the future of Mitsubishi's stake resurfaced late last month when Proton, Malaysia's biggest carmaker with around half of the local market, struck a deal to assemble Volkswagen cars in Malaysia for sale in Southeast Asia. Volkswagen did not take an equity stake in Proton under the deal, but industry analysts say this may follow. Under the deal, the first Malaysian-assembled VW models will be launched by the end of 2005, generating sales of over 15,000 units in 2006. " So GIC is confident in MY car maker? Edited November 24, 2004 by Caaa ↡ Advertisement Link to post Share on other sites More sharing options...
Potheader Clutched November 24, 2004 Share November 24, 2004 GIC always make errors in calculation. Seems like this will just follow the trend.. Link to post Share on other sites More sharing options...
Caaa Clutched November 24, 2004 Author Share November 24, 2004 Maybe this is a "goodwill" move th patch up our relationship with MY???? Link to post Share on other sites More sharing options...
Potheader Clutched November 24, 2004 Share November 24, 2004 We already "goodwill" by investing heavily in their makan, and car mods market! Link to post Share on other sites More sharing options...
Caaa Clutched November 24, 2004 Author Share November 24, 2004 and some nite life........... Link to post Share on other sites More sharing options...
Nemesis Neutral Newbie November 24, 2004 Share November 24, 2004 (edited) Volkswagen did not take an equity stake in Proton under the deal, but industry analysts say this may follow. Under the deal, the first Malaysian-assembled VW models will be launched by the end of 2005, generating sales of over 15,000 units in 2006. [sweatdrop] Hopefully C&C don't bring these M-assembled ones in [thumbsdown] Or else, forsee a dip in their VW sales [smash] Hopefully the new FSi Passat is German Made! Edited November 24, 2004 by Nemesis Link to post Share on other sites More sharing options...
Gadgeter 2nd Gear November 24, 2004 Share November 24, 2004 Have you seen those china-made ones... Link to post Share on other sites More sharing options...
Nemesis Neutral Newbie November 24, 2004 Share November 24, 2004 Not yet, 2 be frank never travel to China b4 U seen b4 or ride in 1 b4 Comments Link to post Share on other sites More sharing options...
Nemesis Neutral Newbie November 24, 2004 Share November 24, 2004 Oops nearly forget, see one in the road Octavia Superby - China made Passat [laugh] Link to post Share on other sites More sharing options...
Nemesis Neutral Newbie November 24, 2004 Share November 24, 2004 U forget to add - free coffee 4 M'sia law enforcement unit laugh] Link to post Share on other sites More sharing options...
Nemesis Neutral Newbie November 24, 2004 Share November 24, 2004 Goodwill = give MY free processed water [lipsrsealed] Link to post Share on other sites More sharing options...
Zombie Neutral Newbie November 24, 2004 Share November 24, 2004 and some nite life........... those are considered as F&B outlets lah Link to post Share on other sites More sharing options...
Panda Neutral Newbie November 24, 2004 Share November 24, 2004 GIC always make errors in calculation. Seems like this will just follow the trend.. On the contrary, IMHO, this is a VERY good buy. Link to post Share on other sites More sharing options...
Potheader Clutched November 24, 2004 Share November 24, 2004 Why so? Erm.. Now that you say it.. Proton being such a important assent in M'sia coffers.. Ahem.. Ok.. Might be a good one afterall.. we'll see.. Link to post Share on other sites More sharing options...
Gadgeter 2nd Gear November 25, 2004 Share November 25, 2004 sit in one before..... sigh* the built isn't that good compared to the one I saw locally. Link to post Share on other sites More sharing options...
Gadgeter 2nd Gear November 25, 2004 Share November 25, 2004 Oops nearly forget, see one in the road Octavia Superby - China made Passat 'export' model from China sure look better... Link to post Share on other sites More sharing options...
Nemesis Neutral Newbie November 25, 2004 Share November 25, 2004 Well said [thumbsup] [thumbsup] Totally agree [laugh] Link to post Share on other sites More sharing options...
Nemesis Neutral Newbie November 25, 2004 Share November 25, 2004 Like I make a comment b4, hope the M'sia made ones don't flood S'pore or ... ... [thumbsdown] [thumbsdown] ↡ Advertisement Link to post Share on other sites More sharing options...
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