Former Prime Minister Najib Razak commented in a post on his Facebook page earlier today regarding current Prime Minister Tun Dr Mahathir visit to Geely in China. He wrote in Bahasa Malaysia stating;
“Jika keputusan itu tidak dibuat tahun lalu, sudah tentu tiada apa yang boleh disaksikan Tun Mahathir di Geely di China semalam.”; which translates to “If I did not make that decision last year, Tun Mahathir would not be witness at Geely in China yesterday.”
Proton Holdings Bhd and Zhejiang Geely Holding Group have a signed a head of agreement to form a joint venture (JV) for Proton to assemble and market cars in China. The agreement allows for mainly portfolio of existing Geely platforms with external designs of the vehicles undertaken by Proton. Furthermore, the agreement will also provide for some existing proton platforms that are found suitable to be developed into models for the Chinese market. Geely owns 49.9% equity stake in Proton, a move Najib made that saved 60,000 jobs and allowed for a stronger growth.
“A year after I made that decision, I am happy to see Proton and Geely fulfilling their promises and making the announcement that Proton Cars will be sold (in the Chinese market) with Mahathir witnessing and looing happy even though a year before he was criticizing me in writing that he wasn’t proud of the Proton brand after Geely became a partner,” Najib commented.
However, both parties need to conduct a detailed study before deciding on the investment sum for new plants in China. Proton’s chairman Syed Faisal acknowledges that Geely being a strategic stakeholder will help pave an easier route for Proton to penetrate into the large Chinese market. Geely Holding Group chairman Li commented that the signing of the head of agreement is an extension of existing partnership that has been established with DRB-Hicom. Proton will launch its first sports utility vehicle that is jointly developed to strengthen its position in the home and ASEAN market.
Najib also pointed out that the new PH government had announced that they have no right to restrict Forest City from selling property, despite having accused Najib of selling off the country when the BN-led government welcomed it.
By Bob Tan
20 August 2018 20:33.