Analysts: Proton burning up to RM500 million annually.
Judging from how the UMNO-led government is hemming and hawing over Proton's future, an ignorant observer might be forgiven for thinking that everything is going well at the country's first auto maker.The sad reality is that analysts claim that at the rate Proton is burning cash, it will soon finish its diminshed cash reserves of about RM500 million by 2008. The Asian Sentinel has a good story about the beleagured company here.
People who argue that Proton should be protected at all costs because it provides jobs and creates multiplier effects for automotive suppliers should consider that if Malaysia had adopted the Thai style of car manufacturing, they would have probably created even more jobs by attracting even more foreign marques to set up shop here.
At the end of the day, does the rest of the world really care if there is a Malaysian car?
Technorati: Malaysia, Proton
posted by hew @ 10:57 am
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