DAP has listed 20 questions in a memorandum it submitted to national car-maker Proton Holdings Bhd to answer about its losses.

"(There are) 20 questions that Proton must answer in the interest of 26 million Malaysians especially its RM510 million losses from the sale of MV Agusta Motors Spa for one Euro (RM4.5)," said the memorandum.

In December last year, the troubled Proton sold its controlling stake in debt-ridden motorcycle maker Augusta SPA to Italy's Gevi SPA for a token sum of one euro (RM4.5).

It had drawn flak from several quarters including Proton advisor Dr Mahathir Mohamad and former chief executive officer Mahaleel Tengku Ariff questioning the rational of the transaction.

Other questions asked in the memorandum included why German car-maker Volkswagen refused the strategic alliance with Proton and Proton's new co-operation with Mitsubishi Motors Corp.

Public fund

Speaking to reporters after handling the memorandum at Proton headquarters in Shah Alam, DAP secretary-general Lim Guan Eng said Proton should not remain silent over the matter as it involved a huge sum of public fund.

"As the most visible and successful symbol of this Malaysia incorporated mantra, the present failings and losses sustained by Proton represent not only a vision turn sour but also a refusal to face up to reality and address these failures," he said.

He said Proton should address the questions raised by the public who are the stakeholders as well as upholding the transparency and accountability to ensure optimal management performance.

"Malaysians have paid much in tens of billions of ringgit for giving protection to Proton in terms of huge investment outlay by the government," he added.

Yusri Yusif, Proton's head of group corporate communication received the memorandum at 11.30 this morning.

"I will convey the message to the management as soon as possible," he told reporters, without specifying the date.

Other DAP leaders present were Cheras MP Tan Kok Wai and Bukit Bintang MP Fong Kui Lun.

Proton has seen a marked decline in market share, from enjoying 60 percent in 2002, 48 percent in 2003, to 44 percent in 2004. As of 31 July 2005, Proton's market share remains at 40 percent.