22 November 2008
Proton banks on tie-up with a major auto player to make a 'global small car'
IT is commonly perceived that a crisis for some, opens up opportunities for others. Nevertheless, it still surprises when Proton Holdings Bhd's managing director Datuk Syed Zainal Abidin Syed Mohd Tahir says that the current global turmoil has spawned some opportunities for the national car maker. A decision on a strategic collaboration partner for the small car will be made next year but whether it translates into equity ownership, Syed Zainal says, is an entirely separate matter. [The Star]
biz.thestar.com.my/bizweek/story.asp?file=/2008/11/22/bizweek/2617584&sec=bizweek
The road ahead for Proton
[The Star]
biz.thestar.com.my/bizweek/story.asp?file=/2008/11/22/bizweek/2615234&sec=bizweek
25 November 2008
Past auto bailouts have critical lessons for US now
As they ponder a US$25bil aid package for America's beleaguered automakers, US lawmakers could do well to study two past auto bailouts: one a failure, the other a success. The failure is strike-prone British Leyland's nationalisation in the 1970s. The success, at least until the events of the past two years, was Chrysler's turnaround in the 1980s. [The Star]
biz.thestar.com.my/news/story.asp?file=/2008/11/25/business/2633964&sec=business
26 November 2008
GM Daewoo to shut plant for a month
The South Korean unit of US car giant General Motors said yesterday it would shut down its main plant for one month from December 1 because of slow sales. GM Daewoo said it would suspend production at its plant in Bupyeong, west of Seoul from December 1 to January 4. [Business Times]
www.btimes.com.my/Current_News/BTIMES/articles/gmwo-2/Article/
27 November 2008
Honouring a giant in automotive industry
A book paying tribute to the late Tan Sri S.M. Nasimuddin S.M. Amin will be launched at the NST/Maybank Car of the Year Awards tonight. The book was produced in recognition of Nasimuddin's contributions to the automotive industry. Nasimuddin, who died in May of lung cancer, was the founder, chairman and chief executive officer of the Naza Group. He was twice named NST's Automotive Man of the Year, first in 2002 and again in 2006. [New Straits Times]
www.nst.com.my/Current_News/NST/Thursday/National/2412893/Article/index_html
Porsche backs out of VW deal
Porsche SE will not pay "ridiculous" prices for VW shares amid recessionary conditions, it said yesterday, backing away from its previous target to take majority control of Europe's biggest carmaker by the end of the year. "In light of the current economic environment, it therefore becomes increasingly unrealistic to achieve this goal within 2008," chief executive Wendelin Wiedeking said in remarks prepared for a news conference. [The Star]
biz.thestar.com.my/news/story.asp?file=/2008/11/27/business/2657287&sec=business
28 November 2008
Proton MD Receives Major Automotive Award
Proton Holdings Bhd's managing director Datuk Syed Zainal Abidin Syed Mohamed Tahir was named "Automotive Man of the Year 2008" for his efforts in leading the national car company. Syed Zainal, whose three-year contract is expiring next month, implemented the long-term Asian Multi-Local OEM (AMLO) strategy to turn around an ailing domestic giant into a genuine global challenger. [Bernama]
www.bernama.com/bernama/v5/news_lite.php?id=374947
HICOM-Chevrolet expansion plans intact
HICOM-Chevrolet Sdn Bhd, the distributor of Chevrolet cars in Malaysia, will continue investing in its brand and dealership network despite the current global economic downturn. Chief executive officer Yukontorn Wisadkosin said the company's plans were on track despite the impact of the global financial crisis on US-based parent company General Motors Corp (GM). [The Star]
biz.thestar.com.my/news/story.asp?file=/2008/11/28/business/2641252&sec=business
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