1. Proton bought this Italian motorcycle maker for 70 million Euro (about RM350 million).
2. Its savvy management sold it for 1 Euro (RM5) to an unknown company in Italy.
3. Some months ago Husqvarna, a division of M.V. Agusta which manufactures scrambler sporty off-road motorcycles was sold to a German company, BMW for 90 million Euro (RM450 million). Now the rest of M.V. Agusta has been bought by Harley-Davidson Motor Cycles of the United States for RM350 million.
4. So Proton lost approximately RM800 million selling M.V. Agusta for RM5. The buyer invested one Euro and made 160 million Euro.
5. Do we need a Royal Commission to look into this or should the ACA investigate this matter particularly the role of Credit Suisse who was paid a huge consultancy fee to advise Proton's management who executed it.
6. Or maybe we do not mind losing RM800 million because we have so much money.
ENFORCING THE RULE OF LAW By Chandra Muzaffar
4 hours ago