Malaysiakini NEWS

Selling Proton an act of vengeance, claims Dr M

Published:  |  Modified:

Dr Mahathir Mohamad is still mourning the loss of his brainchild Proton with regard to China firm Zhejiang Geely Holdings Co Ltd acquiring a 49.9 percent stake in the national carmaker.

In a blog post this morning, he termed the move as an act of vengeance.

“Proton's sale was forced because of vengeance. Pride is not important. Revenge is more important,” said the former premier.

Mahathir also claimed that to his knowledge, the government's RM1.5 billion soft loan for Proton has not reached the ailing firm.

Last year, the government approved Proton Holdings Bhd's application for a soft loan, subject to several conditions which must be met by the national carmaker.

The loan is geared towards helping the national automotive company to pay vendors for components supplied...

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