Selangor Journal

Selling Proton’s equity is like selling country’s asset

SHAH ALAM, APR 13: The People’s Justice Party (KEADILAN) describes the 51 percent majority share takeover by foreign investors is the same as the government letting go of its intellectual property interest.
Teja Assemblyman, Chang Lih Kang said, the national-car status ownership that we have owned for so long will just become history besides losing the rights to the brand, patent, design and logo.
“Malaysians today are so unfortunate to be under a government who wants to ‘sell’ our strategic assets to foreign investors.
“The equity sale will cause a huge chain reaction to employees and local automobile industry,” he said in a statement today.
Chang Lih Kang
Chang said KEADILAN also fears that locals might lose their jobs as foreign investors usually prefer to take workers from developing or under-developed countries due to labour cost factor.
As for professional posts, foreign investors are expected to prefer employees from developed countries such as Japan who are more skilled than the locals.
“This does mean that our country don’t have professional workforce but Malaysia is experiencing a ‘Brain Drain’ problem where most of them are working abroad.
“KEADILAN also wonders if the Finance Minister is not knowledgeable on shares or he has to conceal facts for political survival?
“Or, is the sale of Proton’s shares merely to erase the success and legacy of Tun Dr Mahathir Mohamad, who is now BERSATU Chairman?” he asked.
Chang said, the government should prioritise employees’ skills development in design and product safety as well as widen the marketing strategy.
“KEADILAN would like to emphasize the importance of practicing open-tender concept besides ensuring that at least 51% of Proton shares belong to local investors, not foreign investors.
“Umno BN must also be reminded that they need to reduce the national car price as promised to the rakyat in their GE13 manifesto,” he said.

Top Picks

PM Anwar arrives in Hainan to attend BFA 2023

Dewan Rakyat approves bills related to stalking offences

Dewan Rakyat passes Sexual Offences Against Children (Amendment) Bill