PM: Proton stood to lose RM1b annually if it wasn’t restructured

(Bernama) – National automotive company Proton is expected to lose RM1 billion annually if not restructured, said Prime Minister Datuk Seri Najib Tun Razak.

He said last year, the company suffered a loss of RM500 million on the back of discouraging sales of about 72,000 units at 6,000 monthly.

“The government in 2016 assisted with a soft loan of RM1.5 billion and this year, there was an additional request from the aspect of research and development (R&D) of RM1.1 billion.

“We are using the people’s money to save Proton as 60,000 people are dependent on the company…so how long more,” he said his speech at the breaking of fast event and launch of phase eight of the Rural Streetlights Project at the Paroi Jaya mosque, here, today.

Also present was the Prime Minister’s wife Datin Seri Rosmah Mansor, Minister of Youth and Sports Khairy Jamaluddin, Negeri Sembilan Menteri Besar Datuk Seri Mohamad Hasan and Malaysia’s Ambassador to Cambodia, Datuk Seri Hasan Malek.