Tuesday, September 04, 2007

Sale of MV Agusta

The Malaysian government has stated that the sale of MV Agusta was executed after taking into account of proper decisions and research. The government stated that they relied on the research conducted by Credit Suisse Boston.

But when questioned on the ability to dispose of one of MV Agusta' renowned brand, the Husqvarna Motorcycles, at 93m Euro to BMW Motorrad International by the new management, the following was the response from the Prime Minister of Malaysia:-

1) "The rational of the sale of MV Agusta to GEVI SpA was to enable Proton to pay attention to its core business, which was manufacturing and sale of cars, thus the decision taken by the management of Proton at the time the sale was implemented was the right option in the interest of the company (Proton)'s interest and business"

2) "Proton till now has made several investigations through public sources and confirmation on the accuracy of the information thus far could not be obtained" - hello, you can read from MV Agusta and BMW Motorrad's respective websites on that sale lah, what you mean you can't obtain any information????

3) "Proton no longer has any business connection with MV Agusta. Thus any question related to question of mis-management should not arise" - you mean to say that any mis-management would be forgiven / excused because MV Agusta has been disposed of????? so I can make tons of mistakes but will be absolved from any punishments later on provided the investment MUST have been disposed of???? Wah..... new national policy. I wonder whether my company will adopt such stand also.

I want to give a standing ovation for such a response from the Prime Minister of Malaysia.
Tags: MV Agusta, Credit Suisse Boston, BMW Motorrad International, Prime Minister of Malaysia



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