Tuesday, July 15, 2008

Proton gets flak over Harley’s buy of MV Agusta for RM360m

KUALA LUMPUR, July 15 — American motorcycle giant Harley-Davidson has, according to the Associated Press, agreed to buy MV Agusta for US$109 million (RM360 million), in sharp contrast to the one euro Italian company Gevi paid when it bought the Italian bike-maker from Proton Holdings in 2006.

Harley-Davidson said in a statement out of Milwaukee last Friday that it was likely to seal the deal in weeks but the news is likely to unleash a firestorm of criticism against Proton, which was savagely assailed for the 2006 sale by no less a person than former Prime Minister Tun Dr Mahathir Mohamad, who conceived Proton back in 1984, according to the Singapore Business Times.

More here


  1. Dear Sir,

    Actually I am quite surprised to hear that Proton sold the company for only 1 Euro = RM7. It seems Proton are too scared of the Italian laws where the creditors can sue anyone related to MV Augusta.

    If Proton is too scared to own MV Augusta, they should have sold the company to my grandmother. So if even MV Augusta is being sued, what can do the creditors do to my grandmother? Itu macam pun tak boleh fikir ?

    In fact, my grandmother has RM10 which is more than 1 Euro, so Proton profit extra RM3 !

    I think Malaysia need better lawyers. Our efforts to claim Batu Putih was disappointing, and the Law Minister saying "win-win" to cheer us up rubbed all that in !

    I hope we will prepare better next time against Singapore. There is possibility they might claim Johor in the future if they are confident that our lawyers are not that clever, and we have lots of missing documents.

    Have a nice day !

  2. Mamak PM and his cronies should be investigated on this. Unbelievable. No wonder some people and their families have billions savings in overseas banks.