Sign up | Log in



Home  >>  Daily News  >>  Malaysia News  >>  Automotive  >>  Malaysia’s Proton posts group loss

NEWS UPDATES 31 May 2009

Malaysia’s Proton posts group loss

Related Stories

May 17, 2009
Malaysian importer plans to restart UK LDV production

April 17, 2009
Malaysia PM wants national car maker to find a suitor

March 31, 2009
Malaysia’s Proton in electric car tie-up with Dutch firm

January 14, 2009
Malaysia's Proton denies being in talks to sell stake

January 12, 2009
Malaysia’s Proton considers selling majority stake  

December 18, 2008
Former Chinese partner sues Malaysia’s national car maker 

December 6, 2008
Malaysia’s Proton in tie-up with Mitsubishi to build new car 

Proton Holdings Bhd yesterday announced a group pre-tax loss of 338 million ringgit ($969,874) for its financial year ended March 31, 2009, from a pre-tax profit of 144 million ringgit in 2008, mainly due to an exceptional impairment of property, plant and equipment and inventory write-down.

Malaysia’s national news agency Bernama quoted Proton Chairman Mohd Nadzmi Mohd Salleh as saying the group's poor performance was due to the global crisis. The softening of the automotive industry arising from the financial crisis had also adversely affected the performance of the group in the second half of the financial year, he said.

"The main reason for the group's loss was due to Proton's decision for the impairment of PPE ( property, plant and equipment) and inventory write-down for certain models impacted by volume contraction," Nadzmi said.

"Additionally, the results for the second half of the financial year have also been adversely affected by the accelerated amortisation of certain dies and jigs as well as the increased costs of components and raw materials arising from higher foreign currency exchange rates, particularly the Japanese yen and US dollar."

Proton's group total revenue, however, improved by 864.98 million ringgit to 6.49 billion ringgit in the fiscal year 2008-2009 compared with 5.62 billion ringgit in the fiscal year 2007-2008. The group sold 156,845 cars in the fiscal year 2008-2009 against 139,942 units last year, Nadzmi said.


Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand