THE STAR Business: Saturday September 18, 2010
SOURCE: http://biz.thestar.com.my/news/story.asp?file=/2010/9/18/business/7059760&sec=business
Proton has no merger plans
By DANNY YAP
danny@thestar.com.my
KUALA LUMPUR: Proton Holdings Bhd has no plans to merge with other companies at this juncture, according to adviser Tun Dr Mahathir Mohamad.
Dr Mahathir said the national car manufacturer was a profitable company.
It was earlier reported that Proton was working on a deal to make DRB-HICOM Bhd an equity partner, but the deal may have hit a snag as neither party has confirmed their interest.
Dr Mahathir said Proton was now at the restructuring stage.
“After we restructure and when we are more able to assess the value of our assets, maybe then we will think of some simple cooperation with other companies, if they are interested,” he told reporters after the establishment and launch of the First Sovereign Advisory (FSA) company based on Islamic values yesterday.
FSA, a financial adviser firm, is licensed by Bank Negara and the Securities Commission to advise clients on various Islamic financial products provided by its selected partners.
Asked if Proton was still open to foreign companies having a stake in it, Dr Mahathir said the car manufacturer was open to talks with everyone.
“Over the past 25 years Proton has acquired the skills and capacity to design and build cars from A to Z almost. We have something to offer in terms of our cost competitiveness in car manufacturing, compared with places like Europe and Japan, which are four times more expensive,” he noted.
On the entry of foreign car assemblers, Mahathir said the Government should reconsider if the move was really useful.
“We don’t have to comply with what is recommended by the developed countries. We need to protect ourselves. If we open up our market and they don’t open up theirs, obviously we are not going to benefit,” he said.
On FSA, chief executive officer Annuar Shuib said the firm was looking to have more strategic partners to provide more Islamic products and services to satisfy its clients’ requirements.
“We are in talks with several other companies at the moment,” he said.
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Showing posts with label Article. Show all posts
Showing posts with label Article. Show all posts
Saturday, September 18, 2010
Friday, September 3, 2010
The Stig's ID is 'Top Gear' secret no more
The Stig's ID is 'Top Gear' secret no more
Associated Press Writer – Wed Sep 1, 12:01 pm ET
LONDON – The opaque visor of one of Britain's most famous helmets has been lifted.
AP – This photo combo shows an undated file photo of the driver for the BBC motoring programme Top Gear 'The …
The identity of The Stig, the always-anonymous test driver on the popular television show "Top Gear," has long been a closely guarded secret. On Wednesday, lawyers said the BBC had been refused an injunction blocking publication of a book revealing the identity of the character.
Shortly after, publishers HarperCollins said in a statement that a 33-year-old racing driver named Ben Collins "has a great story to tell about his seven years as The Stig, which will appeal to a wide audience beyond just motoring enthusiasts."
Calling it a "victory for freedom of speech," HarperCollins said the book will be published in Britain on Sept. 16.
The white-suited Stig is the second in the role; the first Stig, who wore a black suit and helmet, was Perry McCarthy. He left the show in 2003 after his identity was revealed.
The show has a long-standing policy of not commenting on The Stig's identity. A "Top Gear" spokeswoman said no decision has been made on whether the character will be back when the show returns.
"Top Gear" is one of the BBC's most successful programs, and is seen in more than 100 countries around the world. Alongside the show's three garrulous hosts, The Stig is an always-silent presence, fearlessly navigating the show's test track in glamorous cars.
Speculation over his identity is a favorite pastime for fans of the show, and the "Top Gear" website sells T-shirts proclaiming "I am The Stig," "I am not The Stig," and "I am The Stig's fat cousin," among others.
"The whole point of The Stig is the mystique — the bizarre characteristics he has, the wonderment created about what he might think, feel, do or look like," producer Andy Wilman said in a post on the show's website. "Kids adore the conceit, and I believe adults, although they know it's a man in a suit (or is it?) gladly buy into the whole conceit because they find it entertaining."
The Stig's Facebook page — which more than 2.5 million people "like" — says he was recently attacked by a goose, that his ears "are not where you would expect them to be," and that he thinks the movie "Star Wars" is a documentary.
The BBC said it sought the injunction — the hearing was held in private — because viewers like the mystery surrounding the driver's identity and it's "vital to protect the character of The Stig."
The broadcaster said that the judgment does not prevent them from taking the issue further in the courts.
'The BBC will not be deterred from protecting such information from attack no matter when or by whom it should arise," the broadcaster said in a statement.
Collins' website says he has raced on the Formula Three and NASCAR circuits, and drove James Bond's Aston Martin in the 2008 film "Quantum of Solace."
END OF ARTICLE...
SOURCE:
http://news.yahoo.com/nphotos/photo-combo-shows-undated-file-photo-driver-BBC-motoring-programme/photo//100901/482/urn_publicid_ap_org_b12b9a44851846c2b404c2780670506e//s:/ap/20100901/ap_on_en_tv/eu_britain_top_gear
That's all folks, thanks for having the time and patience to read this blog entry.
Wednesday, July 21, 2010
ARTICLE: Streamlining the Malaysian Civil Service and Bureaucracy
Before I begin the article I'd like to give a personal comment. What is the point of Subsidy Cuts on Fuel, TOLL, Food items, Healthcare etc when we have the HIGHEST per capita Civil Servants in the WORLD. I'm talking about 1,000,000 (yes, 1 MILLION), ie. 1:25 (1 Civil servants PER 25 Malaysians).
Article 132 of the CONSITUTION OF MALAYSIA stipulates that the Public Service consist of:
The Irony is 95% of these 1,000,000 are Bumiputras. Only 5% are NON Bumis (ie. 50,000). But I'm not picking about this figures. It's just that it's UNHEALTHY to have 1,000,000 Civil Servants! During a visit to Immigration, I was shocked to see SO MANY STAFF (about 60 of them inside) wondering around there YET ONLY 5 out of 20 counters (ie. 1/4) opened to serve us! What's the rest of the staff doing? Minding their own business I guess... Some can be seen Chatting to one another, one of them YAWNING Away, Few of them goes ONLINE, few of them READING NEWSPAPERS and ETC... Clearly, this is a WASTE of our TAXPAYERS MONEY to Employ them... Also, the 1.2BILLION+ ringgit spent to Construct the NEW PALACE! How about Billions spent to Sponsor "1 Malaysia LOTUS F1 Team". But these are another stories which I will NOT Dwell further... CLEARLY, something needs to be done to "REDUCE the REAL SUBSIDY".
Back to this article, the article was WRITTEN in 2007. The NUMBERS might INCREASE THIS YEAR!
Streamlining the Malaysian Civil Service and Bureaucracy
You tend not to think about government employees most of the time. After all, they're generally invisible, despite the important roles they play. The only time you might pay them any heed is when you get stopped by a policeman looking for some easy money, or when some bloke at the immigration department refuses to renew your passport over some minor paperwork issue.
But, still, one million is a huge number! That's one civil servant for every 25 Malaysians! To put this in perspective, the Indian state of Andhra Pradesh employs about one million public servants. The population of Andhra Pradesh, however, is in the range of 75 million people — and even then, it's considered to have a disproportionately big civil service.
Why are we so awash in civil servants? What's the cause of this oddity? I think a big contributing factor is the government's reluctance to create a class of discontented and unemployed malcontents. Their solution, then, is to employ anyone who is rejected by the private sector.
This in turn is probably the cause of our infamously inefficient civil service. And, if the government's actions are anything to go by, things will be getting worse as we go along.
Last year, in response to the problem of unemployed graduates, Deputy Prime Minister Najib Tun Razak declared that the civil service would be picking up the slack — an explicit admission that the government employs the worst of our graduates to keep them from turning against the government at the ballot box.
Around the same time, Parliament was informed that 70% of public university graduates are unemployed. Some people, including the now-famous Tony Pua (a probable candidate for a Parliamentary seat on the Democratic Action Party ticket in the next election), expressed incredulity, and suggested the statistics used must be flawed.
Whatever the case may be, the fact is that a lot of the graduates our public universities unleash on the country are not employable. And these unemployable people find employment in the government.
If the government is really serious about expediting efficiency, what it ought to do is begin retrenching these one million civil servants in stages. Offer them a generous pension comparable to their paycheck — the increased efficiency from a streamlined bureaucracy would make it worth our while.
The government could also do as one East European country did recently while downsizing its civil service. That country offered capital to any former civil servant who wished to start a business. Small and medium enterprises are the backbone of many economies, and it makes sense to turn former civil servants into entrepreneurs.
Of course, this would all be reliant on a government with the political will to dismiss inefficient civil servants, and on a government with the spine to enforce loans. From past experience, this is not the kind of the government we have.
So, till the day we change our government, this is what we will be stuck with — a behemoth of a civil service that exists only to provide a wage for the people not worth employing.
END OF ARTICLE:
SOURCE:
http://www.infernalramblings.com/articles/Malaysian_Government/149/
That's all folks, thanks for having the time and patience to read this blog entry
Article 132 of the CONSITUTION OF MALAYSIA stipulates that the Public Service consist of:
- the General Public Service of the Federation
- the State Public Services
- the Joint Public Services
- the Education Service
- the Judiciary and the Legal Service
- the Armed Forces
The Irony is 95% of these 1,000,000 are Bumiputras. Only 5% are NON Bumis (ie. 50,000). But I'm not picking about this figures. It's just that it's UNHEALTHY to have 1,000,000 Civil Servants! During a visit to Immigration, I was shocked to see SO MANY STAFF (about 60 of them inside) wondering around there YET ONLY 5 out of 20 counters (ie. 1/4) opened to serve us! What's the rest of the staff doing? Minding their own business I guess... Some can be seen Chatting to one another, one of them YAWNING Away, Few of them goes ONLINE, few of them READING NEWSPAPERS and ETC... Clearly, this is a WASTE of our TAXPAYERS MONEY to Employ them... Also, the 1.2BILLION+ ringgit spent to Construct the NEW PALACE! How about Billions spent to Sponsor "1 Malaysia LOTUS F1 Team". But these are another stories which I will NOT Dwell further... CLEARLY, something needs to be done to "REDUCE the REAL SUBSIDY".
Back to this article, the article was WRITTEN in 2007. The NUMBERS might INCREASE THIS YEAR!
Streamlining the Malaysian Civil Service and Bureaucracy
Written by johnleemk on 3:45:58 am Feb 25, 2007.
One million. That's the number of civil servants we have. One million people living off a government paycheck. (And, if they're lucky, the occasional bribe.)You tend not to think about government employees most of the time. After all, they're generally invisible, despite the important roles they play. The only time you might pay them any heed is when you get stopped by a policeman looking for some easy money, or when some bloke at the immigration department refuses to renew your passport over some minor paperwork issue.
But, still, one million is a huge number! That's one civil servant for every 25 Malaysians! To put this in perspective, the Indian state of Andhra Pradesh employs about one million public servants. The population of Andhra Pradesh, however, is in the range of 75 million people — and even then, it's considered to have a disproportionately big civil service.
Why are we so awash in civil servants? What's the cause of this oddity? I think a big contributing factor is the government's reluctance to create a class of discontented and unemployed malcontents. Their solution, then, is to employ anyone who is rejected by the private sector.
This in turn is probably the cause of our infamously inefficient civil service. And, if the government's actions are anything to go by, things will be getting worse as we go along.
Last year, in response to the problem of unemployed graduates, Deputy Prime Minister Najib Tun Razak declared that the civil service would be picking up the slack — an explicit admission that the government employs the worst of our graduates to keep them from turning against the government at the ballot box.
Around the same time, Parliament was informed that 70% of public university graduates are unemployed. Some people, including the now-famous Tony Pua (a probable candidate for a Parliamentary seat on the Democratic Action Party ticket in the next election), expressed incredulity, and suggested the statistics used must be flawed.
Whatever the case may be, the fact is that a lot of the graduates our public universities unleash on the country are not employable. And these unemployable people find employment in the government.
If the government is really serious about expediting efficiency, what it ought to do is begin retrenching these one million civil servants in stages. Offer them a generous pension comparable to their paycheck — the increased efficiency from a streamlined bureaucracy would make it worth our while.
The government could also do as one East European country did recently while downsizing its civil service. That country offered capital to any former civil servant who wished to start a business. Small and medium enterprises are the backbone of many economies, and it makes sense to turn former civil servants into entrepreneurs.
Of course, this would all be reliant on a government with the political will to dismiss inefficient civil servants, and on a government with the spine to enforce loans. From past experience, this is not the kind of the government we have.
So, till the day we change our government, this is what we will be stuck with — a behemoth of a civil service that exists only to provide a wage for the people not worth employing.
END OF ARTICLE:
SOURCE:
http://www.infernalramblings.com/articles/Malaysian_Government/149/
That's all folks, thanks for having the time and patience to read this blog entry
ARTICLE: Subsidy cuts without pay rise = tax hike
THE STAR BUSINESS: Thursday July 22, 2010
Subsidy cuts without pay rise = tax hike
Making a Point - By Jagdev Singh Sidhu
After all, the increase in the cost of fuel (increase of 5 cents per litre across the board with RON97 subject to FLOAT Mechanism), which is ultimately the biggest cost element among the other goods that saw prices rise, was small and well within what people can stomach.
The price increases in sugar and cooking gas were small when looking at what an average household would spend monthly to consume and use such goods.
The way subsidies were removed this time around was also properly handled. The message of why that needed to be done was clear.
Conversely, editorials and comments have stressed the point that the increase in government revenue of RM750mil from the subsidy rationalisation, along with how the Government spends taxpayer money, should also be more disciplined to avoid wastage and should be on projects, goods and services that have tangible benefits to the general population.
So far so good but the reality of things is that the subsidy cuts announced represent the first wave of what could be a series of cuts that would bring down the overall subsidy bill of the Government.
It’s quite likely too that future subsidy cuts could see the price of fuel, depending on the price of fuel internationally, and electricity rise. Along with that, sugar, flour, cooking gas, cooking fuel and maybe even other goods, services and utilities could also see a price increase.
And while the general population, especially the middle-class, has been quiet about the first cuts, there could be grumbles if the price increases do not correspond with the pay packet they bring home.
The reason for that is there is a feeling that urban inflation has grown quite a bit in recent years and that wages in Malaysia have not increased in keeping with the rise in the prices of consumables or even assets.
The increase in starting salaries for jobs in many industries today pales in comparison with how, say the price of a house, car or processed food has risen over the past years or even decades. I know employers will say that salaries would have to reflect the productivity of employees, the growth of which has in recent years been poorer compared with how Malaysians in yesteryears used to attain.
There are also suggestions that the current labour laws, which make it difficult for employers to fire unproductive employees, are also an impediment to employers offering more lucrative salaries for their workers.
Changes to such laws are reportedly being looked at but there is still no guarantee wages would rise after that.
Unless salaries rise as a result of a more efficient marketplace brought about by the removal of subsidies and laws, the price hikes from future subsidy cuts would be viewed as a tax hike. And that could well raise the blood pressure of a lot of people.
·Deputy news editor Jagdev Singh Sidhu is now looking at a substantially smaller pay packet for the next few months, not from the subsidy cuts but the taxman.
END OF ARTICLE...
SOURCE:
http://biz.thestar.com.my/news/story.asp?file=/2010/7/22/business/6710844&sec=business
Related Stories:
Penjanabebas: IPPs don’t get financial benefit from gas subsidy
Minimal impact seen from subsidy cuts
Analysts expect subsidy cut in August
That's all folks! Thanks for having the time and patience to read this blog entry.
ARTICLE: Optimism on auto sector running high
THE STAR BUSINESS: Thursday July 22, 2010
Optimism on auto sector running high
By EUGENE MAHALINGAM
eugenicz@thestar.com.my
Analysts follow MAA in revising upwards car sales figures for 2010
PETALING JAYA: Analysts are upbeat about the outlook of the local automotive industry for 2010, saying “the current state of the auto industry is one of optimism not seen since 2005.”
“We believe the TIV (total industry volume) will exceed our initial forecast of 546,000 units as consumer and business confidence improves,” said Kenanga Research in a report yesterday.
The research house said it was revising upwards its 2010 TIV forecast to 568,000 units from 546,000 units originally due to the commendable sales performance in the first six months of the year.
The Malaysian Automotive Association (MAA) has revised upwards its 2010 TIV forecast to 570,000 units from 550,000 units initially due to the stellar sales performance in the first half of the year.
File photo shows a woman walking past Proton car models on display at a showroom in Shah Alam. — AP The TIV in the first half grew 19.8% to 301,077 units compared with 251,305 units in the previous corresponding period.
However, Kenanga said that it anticipated TIV in the second half of 2010 to “normalise” as the period was expected to be “seasonally slow.”
RHB Research, in its report, said it was maintaining its 2010 TIV growth forecast of 9.5% to 587,698 units.
“We are keeping our 2010 to 2012 TIV projections. We expect TIV to grow 9.5%, 4% and 3.2% in 2010 - 2012, following a 2% contraction in 2009,” it said. TIV for 2009 was 536,905 units.
RHB Research said it was positive on the earnings outlook for local automotive companies, namely Proton Holdings Bhd, Tan Chong Motor Holdings Bhd, UMW Holdings Bhd and MBM Resources Bhd.
It noted that UMW was looking to increase localisation of its Toyota models, in particular the Camry by 2012 as part of the company’s RM170mil assembly plant upgrading programme.
“The Camry is currently assembled in Thailand and selling for between RM144,000 and RM174,000 as a CBU (completely built-up) unit. Once locally assembled, we believe this price would be brought down by at least 5% as import duty will no longer be imposed,” it said. The research house also said UMW was looking at increasing the local content of its Toyota Vios, which had 40% local content.
RHB Research also said it was optimistic about the launch of Proton’s Waja replacement model in the final quarter of 2010. The vehicle is expected to be similar to the Mitsubishi Lancer and priced RM20,000 to RM40,000 cheaper than the actual Lancer.
It also said Proton could be consolidating its plants in Shah Alam and Tanjung Malim and secure contract manufacturing to optimise plant utilisation which would further improve profitability via better cost control and economies of scale.
Sales of Toyota vehicles rose to 34,943 units in the first half of 2010 versus 30,147 units previously, making it the market leader in the non-national passenger car segment. Sales of Proton vehicles increased to 80,051 units from 67,770 units during the same period.
RHB Research said it was also positive on the outlook for Tan Chong (which distributes Nissan vehicles) and MBM Resources (which has a 20% stake in Perodua). Perodua sold 94,936 vehicles in the first half of 2010 compared with 77,045 units previously, making it the market leader in the local passenger market.
Sales of Nissan vehicles increased to 13,406 units from 11,220 previously.
An analyst from a local bank-backed brokerage said the TIV performance in the first half of 2010 was within expectations, adding that he had revised upward his forecast to 573,000 from 561,000 initially due to the good industry performance. He said he was positive on the outlook of the local auto industry, noting that many car companies were offering low interest rates to boost sales.
END OF ARTICLE.
SOURCE:
http://biz.thestar.com.my/news/story.asp?file=/2010/7/22/business/6709333&sec=business
That's all folks! Thanks for having the time and patience to read this blog entry.
Friday, June 25, 2010
Lotus announces new management team and a new Proton/Lotus model
ARTICLE SOURCE:
http://www.zerotohundred.com/newforums/automotive-news/339960-lotus-announces-new-management-team-and-a-new-proton-lotus-model.html
Highlights: The new car will be introduced in about 18-24 months and will be sold as a 5-door Proton in Malaysia and will be sold as a 3-door Lotus in other markets around the world.
It will be based on the Proton Emas concept that was shown in Geneva earlier this year but “heavily modified for daily use.”
In a joint press conference yesterday afternoon, both Proton Holdings Berhad and Group Lotus announced future business and product plans for the respective companies.
Speaking at the conference were Dato Syed Zainal, Managing Director of Proton, Dato Mohamad Nazmi, Chairman of Proton and Dany Bahar, CEO of Group Lotus.
The press conference was also held to introduce a new management team at Group Lotus comprising of some of the most respected names in the automobile manufacturing industry.
Proton Chairman, Dato Mohamad Nazmi, a man known for turning around companies that are in a uncomfortable position, took to the mike first and made the bold move of apologizing for not working closer with Lotus over the past 10 years.
He mentioned that while the previous relationship between the two companies was more on a “ad hoc and contractual” basis even though Proton owned Lotus , he wants things to change under his watch with both companies to mutually benefit from each other. Proton will gain more from Lotus engineering and Lotus from Proton’s ability to produce en masse.
Next on the mike was Dany Bahar, ex-Ferrari Brand Manager and now Lotus CEO who brought us his business plan for the next five years. Of course there was the talk of bigger numbers and newer models and niches, but to help achieve the goal, Dany assembled and introduced a new management team he likens to the Real Madrid dream team.
The list is too large to mention here but trust us that it’s very impressive. Names that would make you go wow though would be the likes of Donato Coco, once Director of Concept Design and Development at Ferrari SpA. His key projects at Ferrari include the 430 Scuderia, Spyder 16M, California, 599XX and the new 458 Italia. Coco takes on the role of Director of Design at Group Lotus. Also in the list is Claudio Bero, ex-Ferrari/Fiat F1 racing chief and now Director of Lotus Motorsports.
The list of key personnel and other revamps goes on but more interestingly Lotus introduced a product outline of an upcoming model that is to take on a new niche for Lotus.
Bahar wants Lotus to “go back to where it already was once,” an engineering and style icon. If you recall, Lotus cars were a sensation in the 70s, appearing in Bond flicks and other Hollywood movies. In his presentation, Dany said he is to take the brand more upmarket in terms of creature comforts, performance, image, and of course, sales figures.
Today’s Lotus is a very niche machine catering to those who want the ultimate driving machine without any compromises; it’s a car that only an enthusiast can appreciate. The Lotus of tomorrow though is set to be much more than just the ultimate driving machine. In his push to take the brand more upmarket, Bahar also stated that he has automakers like Ferrari, Lamborghini, Porsche, Aston Martin right in the middle of his cross-hairs and aims to take these powerhouses head on in terms of drivability, exclusiveness, finesse, and numbrs.
Lotus currently sells around 2,000 cars per year but aims to take it up to over 8,000 units per year and that would mean snatching customers from other car companies. To do that Lotus will have to provide a product that can compete directly with the likes of the Ferrari 458 Italia and California, Lamborghini Gallardo, Porsche 911 Carrera, and the Aston Martin Vantage. Lotus will also continue to build no-nonsense cars like the Exige and Elise.
On questioning, Bahar has confirmed that a new Lotus that will be even more upmarket than the Evora will be introduced towards the end of 2012. He also ruled out the notion of Lotus working on its own engine, insisting that Toyota engine’s work just fine with some Lotus tuning. When pressed for some information on the upcoming, more powerful than ever Lotus, Dany did not rule out the possibility of using Toyota’s V10 powerplant that currently powers the Lexus LFA.
When asked if it would be detuned, Dany simply said, " ... maybe not, maybe it does not even need to be detuned, you just have to wait and see". He did not rule out the use of a V8 or a V6 either.
Also in the works for Lotus is a hybrid powerplant and transmission, an Electric Vehicle, a plug-in hybrid and more interestingly, an alcohol fueled powertrain.
Taking the mike after Dany was Dato' Syed, Managing Director of Proton Holdings Berhad. Dato' Syed spoke about the joint collaboration of the two companies and urged to “forget about the past” as the two companies work towards new goals with the new team. Dato’ Syed also confirmed that Proton will be working with Lotus on a global small car which will carry the “Proton and Lotus image.”
The new car will be introduced in about 18-24 months and will be sold as a 5-door Proton in Malaysia and will be sold as a 3-door Lotus in other markets around the world.
It will be based on the Proton Emas concept that was shown in Geneva earlier this year but “heavily modified for daily use.”
The next five years or so look set to be some of the most interesting for both the companies in recent times. With a very experienced new CEO at Lotus together with a new "dream team" management as well as a new Proton/Lotus vehicle that promises to go further than just a “ride & handling by Lotus” badge, we can only hold our breath for what is to come.
First up, the Paris Motor Show where Lotus is set to introduce a new model, speculations around the internet suggest that it could be a new Esprit, or a new Exige/Elise model, it could also be a Lotus SUV but Dany has said that will not happen, or it could just be a Evora convertible. We’ll just have to wait till early October.
END OF SOURCE.
That's all folks, thanks for having the time and patience to read this blog entry.
http://www.zerotohundred.com/newforums/automotive-news/339960-lotus-announces-new-management-team-and-a-new-proton-lotus-model.html
Highlights: The new car will be introduced in about 18-24 months and will be sold as a 5-door Proton in Malaysia and will be sold as a 3-door Lotus in other markets around the world.
It will be based on the Proton Emas concept that was shown in Geneva earlier this year but “heavily modified for daily use.”
In a joint press conference yesterday afternoon, both Proton Holdings Berhad and Group Lotus announced future business and product plans for the respective companies.
Speaking at the conference were Dato Syed Zainal, Managing Director of Proton, Dato Mohamad Nazmi, Chairman of Proton and Dany Bahar, CEO of Group Lotus.
The press conference was also held to introduce a new management team at Group Lotus comprising of some of the most respected names in the automobile manufacturing industry.
Proton Chairman, Dato Mohamad Nazmi, a man known for turning around companies that are in a uncomfortable position, took to the mike first and made the bold move of apologizing for not working closer with Lotus over the past 10 years.
He mentioned that while the previous relationship between the two companies was more on a “ad hoc and contractual” basis even though Proton owned Lotus , he wants things to change under his watch with both companies to mutually benefit from each other. Proton will gain more from Lotus engineering and Lotus from Proton’s ability to produce en masse.
Next on the mike was Dany Bahar, ex-Ferrari Brand Manager and now Lotus CEO who brought us his business plan for the next five years. Of course there was the talk of bigger numbers and newer models and niches, but to help achieve the goal, Dany assembled and introduced a new management team he likens to the Real Madrid dream team.
The list is too large to mention here but trust us that it’s very impressive. Names that would make you go wow though would be the likes of Donato Coco, once Director of Concept Design and Development at Ferrari SpA. His key projects at Ferrari include the 430 Scuderia, Spyder 16M, California, 599XX and the new 458 Italia. Coco takes on the role of Director of Design at Group Lotus. Also in the list is Claudio Bero, ex-Ferrari/Fiat F1 racing chief and now Director of Lotus Motorsports.
The list of key personnel and other revamps goes on but more interestingly Lotus introduced a product outline of an upcoming model that is to take on a new niche for Lotus.
Bahar wants Lotus to “go back to where it already was once,” an engineering and style icon. If you recall, Lotus cars were a sensation in the 70s, appearing in Bond flicks and other Hollywood movies. In his presentation, Dany said he is to take the brand more upmarket in terms of creature comforts, performance, image, and of course, sales figures.
Today’s Lotus is a very niche machine catering to those who want the ultimate driving machine without any compromises; it’s a car that only an enthusiast can appreciate. The Lotus of tomorrow though is set to be much more than just the ultimate driving machine. In his push to take the brand more upmarket, Bahar also stated that he has automakers like Ferrari, Lamborghini, Porsche, Aston Martin right in the middle of his cross-hairs and aims to take these powerhouses head on in terms of drivability, exclusiveness, finesse, and numbrs.
Lotus currently sells around 2,000 cars per year but aims to take it up to over 8,000 units per year and that would mean snatching customers from other car companies. To do that Lotus will have to provide a product that can compete directly with the likes of the Ferrari 458 Italia and California, Lamborghini Gallardo, Porsche 911 Carrera, and the Aston Martin Vantage. Lotus will also continue to build no-nonsense cars like the Exige and Elise.
On questioning, Bahar has confirmed that a new Lotus that will be even more upmarket than the Evora will be introduced towards the end of 2012. He also ruled out the notion of Lotus working on its own engine, insisting that Toyota engine’s work just fine with some Lotus tuning. When pressed for some information on the upcoming, more powerful than ever Lotus, Dany did not rule out the possibility of using Toyota’s V10 powerplant that currently powers the Lexus LFA.
When asked if it would be detuned, Dany simply said, " ... maybe not, maybe it does not even need to be detuned, you just have to wait and see". He did not rule out the use of a V8 or a V6 either.
Also in the works for Lotus is a hybrid powerplant and transmission, an Electric Vehicle, a plug-in hybrid and more interestingly, an alcohol fueled powertrain.
Taking the mike after Dany was Dato' Syed, Managing Director of Proton Holdings Berhad. Dato' Syed spoke about the joint collaboration of the two companies and urged to “forget about the past” as the two companies work towards new goals with the new team. Dato’ Syed also confirmed that Proton will be working with Lotus on a global small car which will carry the “Proton and Lotus image.”
The new car will be introduced in about 18-24 months and will be sold as a 5-door Proton in Malaysia and will be sold as a 3-door Lotus in other markets around the world.
It will be based on the Proton Emas concept that was shown in Geneva earlier this year but “heavily modified for daily use.”
The next five years or so look set to be some of the most interesting for both the companies in recent times. With a very experienced new CEO at Lotus together with a new "dream team" management as well as a new Proton/Lotus vehicle that promises to go further than just a “ride & handling by Lotus” badge, we can only hold our breath for what is to come.
First up, the Paris Motor Show where Lotus is set to introduce a new model, speculations around the internet suggest that it could be a new Esprit, or a new Exige/Elise model, it could also be a Lotus SUV but Dany has said that will not happen, or it could just be a Evora convertible. We’ll just have to wait till early October.
END OF SOURCE.
That's all folks, thanks for having the time and patience to read this blog entry.
Monday, June 21, 2010
Malaysian petrol prices could go up to RM2.60 if Govt approves proposal
Malaysian petrol prices could go up by 15 cents if government approves proposal
According to a report on Malaysiakini, the Malaysian government could hike petrol prices up by this year. The report says that the initial price increase will be 15 cents per liter and implemented this year under plans presented by a body advising the government on how to cut subsidies.
The proposal was made today to urge people to accept higher prices as Malaysia seeks to reduce its budget deficit which stood at a 20-year high of 7 percent of gross domestic product in 2009.
If the proposal goes through, the price of petrol would be hiked some time this year followed by two price hikes totally 20 cents per liter in 2011 and two more of 20 cents per liter in 2012.
In 2013-2015, there will be slow price hikes and by the end of 2015, the price of RON95 would stand at RM2.60 per liter, but the proposal has yet to be approved by the government, so there's no telling whether or not the proposal will be accepted.
The forecasts were based on a crude oil price forecast of US$73.06 per barrel for 2011 and US$79.41-US$94.52 for 2013-2015.
Petrol
Petrol prices to be increased 15 sen in June-Dec 2010, then 10 sen hikes every six months between Jan 2011-Dec 2012 and by a lesser amount in following years.
Petrol prices seen at
2011 - RM2.16
2012 - RM2.20
2013 - RM2.34
2014 - RM2.52
2015 - RM2.60
The forecast for crude oil in 2011 is US$73.06 per barrel and for 2013-2015 in the region of US$79.41-94.52.
Tolls
Renegotiation with PLUS highways in 2010 and with LDP Highways by 2013.
Propose that all concession agreements would proceed without subsidies, resulting in a toll hike of between 10-67 percent for 2010.
Gas
Gas price is increased by a fixed rate of RM3/MMBTU every six months from initial increase for power sector and non-power
sector.
Gas price increase of RM3/MMBTU every six months corresponds to an increase in electricity tariff of 1.6 sen/kWh every six months.
Electricity tariff for lifeline consumers (in 2010, less than 200 kWh) would not be increased. About 56 percent of households will not be affected in 2010.
Consumers with a monthly bill of 20 ringgit and below will continue to get free electricity until Dec 2010.
Strategic industries will be protected initially.
Inflationary impact
* Estimated impact on inflation:
- A 5 percent increase in petrol prices would result in a 0.4 percentaage points rise in the consumer price index.
- A 10 percent increase would cause the CPI to go up by 0.82 percentage points. Fuel represents 7.7 percent of the CPI basket.
Total savings
* In 2010, government will save about RM3 billion. In 2011, RM14 billion, RM21 billion in 2012, RM29.5 billion in 2013 and RM35 billion in 2014.
Source: Reuters via Malaysiakini
END OF ARTICLE.
That's all folks, thanks for having the time and patience to read this blog entry.
According to a report on Malaysiakini, the Malaysian government could hike petrol prices up by this year. The report says that the initial price increase will be 15 cents per liter and implemented this year under plans presented by a body advising the government on how to cut subsidies.
The proposal was made today to urge people to accept higher prices as Malaysia seeks to reduce its budget deficit which stood at a 20-year high of 7 percent of gross domestic product in 2009.
If the proposal goes through, the price of petrol would be hiked some time this year followed by two price hikes totally 20 cents per liter in 2011 and two more of 20 cents per liter in 2012.
In 2013-2015, there will be slow price hikes and by the end of 2015, the price of RON95 would stand at RM2.60 per liter, but the proposal has yet to be approved by the government, so there's no telling whether or not the proposal will be accepted.
The forecasts were based on a crude oil price forecast of US$73.06 per barrel for 2011 and US$79.41-US$94.52 for 2013-2015.
Petrol
Petrol prices to be increased 15 sen in June-Dec 2010, then 10 sen hikes every six months between Jan 2011-Dec 2012 and by a lesser amount in following years.
Petrol prices seen at
2011 - RM2.16
2012 - RM2.20
2013 - RM2.34
2014 - RM2.52
2015 - RM2.60
The forecast for crude oil in 2011 is US$73.06 per barrel and for 2013-2015 in the region of US$79.41-94.52.
Tolls
Renegotiation with PLUS highways in 2010 and with LDP Highways by 2013.
Propose that all concession agreements would proceed without subsidies, resulting in a toll hike of between 10-67 percent for 2010.
Gas
Gas price is increased by a fixed rate of RM3/MMBTU every six months from initial increase for power sector and non-power
sector.
Gas price increase of RM3/MMBTU every six months corresponds to an increase in electricity tariff of 1.6 sen/kWh every six months.
Electricity tariff for lifeline consumers (in 2010, less than 200 kWh) would not be increased. About 56 percent of households will not be affected in 2010.
Consumers with a monthly bill of 20 ringgit and below will continue to get free electricity until Dec 2010.
Strategic industries will be protected initially.
Inflationary impact
* Estimated impact on inflation:
- A 5 percent increase in petrol prices would result in a 0.4 percentaage points rise in the consumer price index.
- A 10 percent increase would cause the CPI to go up by 0.82 percentage points. Fuel represents 7.7 percent of the CPI basket.
Total savings
* In 2010, government will save about RM3 billion. In 2011, RM14 billion, RM21 billion in 2012, RM29.5 billion in 2013 and RM35 billion in 2014.
Source: Reuters via Malaysiakini
END OF ARTICLE.
That's all folks, thanks for having the time and patience to read this blog entry.
Porsche Recalls Every Single Panamera in The World
Porsche Recalls Every Single Panamera...on the Planet
Porsche announced today that it will be recalling all of the Panameras it has sold to date due to a seatbelt issue. That's 11,324 cars.
The problem is that the front belts' mounts "could fail when the front seats are adjusted in an extreme forward position."
With a target of 20,000 worldwide Panamera sales, and the recent announcement of a 300-horsepower V6 model, I'm willing to bet this won't hurt the company's goal too badly.
So far no accidents or injuries have been reported.
By Phil Alex
Via: News
End of Article. SOURCE:That's all folks, thanks for having the time and patience to read this blog entry.
Monday, June 14, 2010
ARTICLE: Alloy vs Steel rims...
by Kyle Waller |
Alloy vs. Steel Wheel Rims
The Right Rims
Drivers must always keep the upkeep of their tires and rims in mind. Demands for great quality rims as well as a market trend for appealing alloy and chrome rims are constantly changing. While the battle between alloy and steel rims goes on, here is a brief description of both that will give you a better idea of what drivers use where the car meets the road.
Alloy
Buying a rim that doesn’t match the others is tacky and should never be done unless you’re going for the two-and two look in which case you still have to match at least one other rim. There are, however, some repair companies that specialize in restoring any damaged alloy wheel back to excellent quality.
Transwheel Corp, which describes itself as the largest alloy repair vendor in the United States, handles more than 150,000 wheel repairs annually, according to its website. The cost ranges from $130 to $300 per wheel depending on various qualities such as type, size and year. Under company guidelines, they will remove up to 20 thousandths of an inch of material in a resurfacing repair.
Steel rims
Also, while many must paint their alloy rims after purchase, steel wheels are not the most fashionable and are therefore available in black or silver finish and basic styling can be updated with wheel covers. On the negative side, steel is not a good conductor of heat, so the heat is usually focused on the brakes, which means the brake system will have to be maintained much more frequently.
While alloy wheels are fragile and inconvenient when damaged, steel wheels cost less due to high manufacturing and low material costs. Although steel wheels can be heavier than alloy wheels, most of these wheels are actually smaller than their alloy counterparts.
The Faceoff
So if you’re looking for what’s trendy and in style, alloy rims may be the choice for you provided you keep them clean and safe. If you just want your car to be free to move, steel is the best choice, but you’ll have a less attractive car and some not-so-shiny wheels.
END OF SOURCE:
http://www.driversense.com/driversense/story_ss/314#
THAT'S ALL FOLKS... Thanks for having the time and patience to read this blog entry.
Tuesday, June 8, 2010
300th post: ARTICLE: Proton: LOTUS NOT FOR SALE
Proton: Lotus not for sale at this point in time!
June 9, 2010 at 10:14 am Filed Under Cars, Local News, Lotus, Proton
With some reports claiming that Proton will offload 40% of wholly-owned subsidiary Lotus to the British brand’s management team, Proton Holdings Bhd has reiterated that Lotus Group International Ltd is not for sale at this point in time. The national carmaker said this in a filing to Bursa Malaysia.
Proton said that it had over the years received several unsolicited offers for a stake in Lotus and had taken cognisance of such offers. The statement added that Lotus would continue to be a strategic entity within Proton and its technology catalyst. However, as a proactive business entity, it said Proton would continue to initiate and consider viable business opportunities and arrangements which would benefit and add value to the group’s interests.
Proton would make relevant announcements at an appropriate time, the statement added. Notice that Lotus is not for sale only “at this point in time” which could also mean that a sale might be considered later on. That’s just pure speculation of course, but should the engineering experts be on the market, there will be no shortage of takers.
Meanwhile, Lotus is set for a brand relaunch, which could be presented at the Paris Motor Show in October. The maker of the Elise and Evora has hired McCann Erickson Central to create a new brand identity, “web solutions” for both Lotus Cars and Lotus Engineering, support materials, a new brochure suite and support for the Paris launch.
SOURCE:
http://paultan.org/2010/06/09/proton-lotus-not-for-sale-at-this-point-in-time/
Selling a Car: How to write a Used car ad?
WHATCAR? Selling A Car - Wording a car advert
12 February 2007
• Include all the relevant information but be precise, accurate, honest and avoid cliches such as 'first to see will buy', or 'one careful lady owner', Also, avoid these: "No timewasters"...
• List the exact model, its year of registration and plate number (eg 1999/V), mileage (78,400 miles not 78k), whether it has a full service history, colour (in plain English), number of owners (if it's low for the age of your car), list of equipment/features, price, colour photograph and contact details.
• If you're selling online with somewhere such as eBay, you'll obviously have more space, but keeping it short and sweet should still pay dividends so long as you include all the relevant details. There's more scope for pictures online too, so take advantage.
• Avoid abbreviations. It's easy to scan over them and many buyers won't know what they mean. If you really have to reduce the cost of an advert, stick to the most common abbreviations such as FSH (full service history), PAS (power-assisted steering), AC (air-conditioning), EW (electric windows), RCL (remote/central locking), ONO (or nearest offer), VGC (very/good condition).
SOURCE:
1) http://www.whatcar.com/car-advice/selling/wording-a-car-advert/3141796
Wednesday, May 26, 2010
The Star: Dealing with subsidies is serious business...
The Star, Wednesday May 26, 2010
Dealing with subsidies is serious business, it cost RM74bil in 2009
By JAGDEV SINGH SIDHU
jagdev@thestar.com.my
The Cabinet is scheduled to meet today to deliberate on the subsidy-removal plan laid out by Pemandu and the public will have their say at the subsidy rationalisation lab open day tomorrow.
The basis of wanting to give subsidies the boot is simple. The cost of maintaining cheap food, energy and services has put a terrible strain on government finances with the fiscal deficit now projected at 5.6% of GDP.
Whatever the case, maybe as one economist puts it that Malaysians may now feel a right of entitlement with subsidies after enjoying the benefits all these years with Malaysia being one of the most heavily-subsidised nations in the world.
One of the main subsidies is for petrol. Subsidised fuel has made the price of petrol in Malaysia among the cheapest in the world
As a percentage of GDP, subsidy expenditure is now at about 11% of GDP compared with 3.5% in Switzerland, 1.4% in France, 0.7% in Britain, 2.7% in Indonesia, 1.6% in India or a meagre 0.25 in the Philippines.
One study puts the average subsidy expenditure for OECD countries at 1.5% of nominal GDP.
Much of the subsidy bill, totalling RM42.8bil, is in the form of social services which include health, welfare, education and scholarships.
While such expenditure is important as it involves directly funding education and healthcare and other services which the public is dependent on, there are components within that category where subsidies can be lessened through better effort to check on wastage and abuse.
“I don’t think people will complain much if they are asked to pay RM3 for outpatient care at a government hospital compared with the current charge of RM1,” said an economist with a local brokerage.
While savings from the huge social bill can be obtained, the biggest and fastest source of savings from the reduction in the deficit will come from the reduction and removal of energy subsidies.
Fuel, either in the form of petrol, natural gas, LPG or electricity, cost the Government RM23.5bil in 2009.
Subsidised fuel has made the price of petrol in Malaysia among the cheapest in the world, as Malaysia is ranked 157 out of 175 countries in terms of having the lowest cost of petrol.
Cheap petrol and diesel prices have also led to wastage and frivolous use of such energy. Furthermore, the amount of smuggling, in the form of fuel, sugar and cooking oil, to neighbouring countries is huge.
The subsidy bill for food, which includes cooking oil, sugar, flour and rice fishermen, was RM3.1bil in 2009.
Analysts agree that the subsidies for fuel and food should eventually go but they caution that the immediate consequence of that, depending on how the subsidies are removed, will have an impact on inflation and consumption.
The planned subsidy removal, which will likely be done on a comprehensive but staggered and gradual basis, may see inflation rising by between 4% and 4.5% in 2011 before coming back down the following year.
“If the rise in fuel price is gradual then people would be able to stomach such increases. What they don’t want to see is a sudden steep increase in the price of fuel as that would see inflation and their disposable incomes hurt,” said an economist.
Dealing with the subsidies is a major concern for the Government now as the mountain of subsidies, which it has to borrow money just to fund, has taken a toll on its total debt.
The percentage of total debt to GDP, which was in the 40 percentage plus point range for much of this decade, surged to 54% in 2009 which also took into account the fiscal stimulus cost incurred to aid the economy during the recent recession.
Economists have said that the implementation of subsidies had been faulty for all these years as they were not targeted to the needy.
Instead, government data shows that 97% of subsidies were given regardless of household income levels. As an example, 71% of fuel subsidies go to the mid-income and high-income groups who can pay for higher fuel prices.
If subsidies can be reduced and utilised to targeted groups, then the extra freed-up cash can be used to improve services and productivity that will improve economic growth in the years ahead.
END OF ARTICLE...
SOURCE:
http://biz.thestar.com.my/news/story.asp?file=/2010/5/26/business/6338825&sec=business
That's all folks, thanks for having the time and patience to read this article...
Thursday, May 20, 2010
ARTICLE: Young men should pay more for car insurance
Young men should pay more for car insurance, says industry group
May 13, 2010, THE MALAYSIAN INSIDER, BUSINESS
KUALA LUMPUR, May 13 — The average male in his 20s accounts for one in four car accident insurance claims in Malaysia and should be charged a higher premium, an industry report released today concluded.
Although individuals aged between 21 and 30 years represented only one-fifth of motor insurance holders, their average claims frequency was 47 per cent higher than the 41-to-45 age group.
“A risk rating system would ensure those in high-risk groups would pay more,” said ISM Insurance Services Malaysia Berhad (ISM) CEO Carl Rajendram today.
ISM is a shared services company that provides statistics and information on insurance coverage and claims to insurance companies and takaful operators.
Rajendram urged the government to reform the outdated tariff insurance system that has been in place since the 1970s as it charges similar premiums to both high-risk and low-risk groups.
Comparatively, other markets like the United States and Australia use risk-based rating systems that vary motor insurance premiums depending on risk characteristics such as age, gender, driving record and vehicle model.
Insurance companies in those markets also offer pay-as-you-drive policies where drivers only need to pay for the total distance driven on a rate determined by their driving habits, as monitored by Global Positioning System (GPS) devices installed in their vehicles.
“A risk-based system will provide incentives for road safety, better vehicle safety and security standards, and better driver behaviour,” said Rajendram in his presentation of ISM’s 2009 Motor Insurance and Takaful Statistics Report.
He added that the net claims incurred ratio for third-party bodily injury increased by more than 80 per cent from 2002 till 2009.
A risk-based insurance system would also incentivise express bus companies to improve their safety standards, and vehicle owners to install good safety and anti-theft systems in order to avoid paying high premiums, said Rajendram.
“A total of 21 per cent of buses are more than 20 years old,” he said. “Programmes to phase out these buses should be put in place by the government.”
END OF MalaysianInsider Article. Source:
http://www.themalaysianinsider.com/business/article/young-men-should-pay-more-for-car-insurance-says-industry-group/
MY (OTOREVIEW'S) OPINION:
In my opinion, Malaysia should LOOK NO FURTHER than United Kingdom's FAIR Tiered Insurance schemes. It rewards Frugal, city cars (Lower group) and penalise Performance Car (Higher group). It also rewards Family men and penalise Young and RECKLESS Drivers (Points based). Here are its "BASIS of Premium Charges".
It is classified according to the following:
1) Gender: Men average more miles driven per year than women do, and consequently have a proportionally higher accident involvement at all ages. Insurance companies cite women's lower accident involvement in keeping the youth surcharge lower for young women drivers than for their male counterparts, but adult rates are generally unisex.
2) Age: Teenage drivers who have no driving record will have higher car insurance premiums. However, young drivers are often offered discounts if they undertake further driver training on recognized courses (eg. Defensive Driving Courses). Senior drivers are often eligible for retirement discounts reflecting lower average miles driven by this age group.
3) Driving History: In many Countries, moving violations, including running red lights and speeding, assess points on a driver's driving record. Since more points indicate an increased risk of future violations, insurance companies periodically review drivers' records, and may raise premiums accordingly.
4) Marital Status: Policy owners that are married often receive lower premiums than single persons. One reason is that marriage may be considered an indicator of stronger financial stability within the household
5) Vehicle Classification. In UK, it's graded according to Groups. Group 1 (for Perodua Kelisa) to Group 20 (for Mitsubishi Evo). The higher the groupings, the more $$$ it is.
6) Distance/Mileage based: Insurance are higher in London or Large Cities compared to Countryside OR Suburbs as more cars perceived as Higher risks.
7) GPS Based System.
8) Classic Car status. Classic Car (above 25 years old) tends to have LOW Mileage (RARELY USED), as a result, Insurance Risk lower, hence Lower Premiums.
END OF MY OPINION.
That's all folks, thanks for having the time and patience to read this article of mine (Partly)...
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