Sale of MV Agusta Motors Spa: Minister of Finance did not answer process of appointment of valuer Credit Suisse First Boston and exorbitant fee paid!
Tuan Wee Choo Keong [ Wangsa Maju ] minta MENTERI KEWANGAN menyatakan mengapakah pada tahun 2005 Kerajaan mengizinkan Proton menjual saham MV Augusta sebanyak 57.75% (harga beli RM478 juta) pada harga kurang daripada RM5 kepada Gevi Spa, dan pada tahun 2007 saham tersebut telah dijual kepada BMW pada harga RM478 juta dan bagaimana process perlantikan penilai Credit Suisse First Boston dilaksanakan dan berapa kos professional dibayar kepadanya.
Jawapan
Tuan Yang di-Pertua,
1.
yeah go YB, press harder until Najib tells us.. not a good start from this new finance minister, but in the first place wasnt expecting much from him anyways
The problems with this BN government under the Sleepy Head is: they thought that the rakyat are stupid and be satisfied with their stupid answer.
You them them about “A” and they answer about “B” and most of the time they don’t answer the question all together.
This is the problems with this BN government: Tyranny of the majority. So we must get them out before they bleed the nation dry. We must all get rid of the SIL, son and the bloody Sleepy Head!
To be tortured for 5 bloody long months is most unacceptable! Hope the UMNO members really that they must get rid of this this tyranny and members of his family.
This BN government is bullshitting all the way. We need a change. Enough of Bodohwi, Please go to Perth as soon as possible and bring along the son in law, son and his cronies. The nation does not need such irresponsible people.
Badawi is always tipu the people. Get him and his cronies as soon as possible.
YB,
We always ask questions, point out the error or hanky panky, some of it are so obvious until even grandma and children also see what is wrong. But the gomen and najis don’t even bother to answer any of those question, no changes and follow up. What is this all about man.
Hi,
I’m wondering of the following point in the answer:
4 – iii. Integrasi operasi MVAM dengan PROTON tidak akan memberi skala ekonomi yang besar atau sinergi;
==> Isn’t this supposed to be known / evaluated on year 2005 prior to the purchase of stake in MVAM?
6. PROTON juga telah mendapatkan khidmat penasihat ke atas nilai pelupusan saham yang wajar. Namun, memandangkan MVAM mempunyai dana pemengang saham yang negative (negative shareholders fund), aliran wang tunai yang tidask mencukupi (cashflow deficit) dan juga menanggung kerugian berteursan (kerugian selepas cukai berjumlah 118.57 juta Euro bagi tempoh 6 tahun sehingga 31 Disember 2005), nilai jualan selain daripada nilai nominal adlah sangat sukar diperolehi.
==> Among the 118.57 juta Eror of loss after tax inccured within 6 years period, i’m wondering how much was the loss incurred from Dec 2004 until Dec 2005? Isn’t that PROTON fully awared of the previous 5 years loss? Then, how was the decision to purchase MVAM was make? Which are the party engaged to evaluate the purchase and on what basis were PROTON make decision to proceed with the purchase with the confident that it can turn around the business of MVAM?
This is a sham deal involving people connected to the power that be! These cronies are bleeding this country. we must vote them out as soon as possible.
Another “project” by he administration of Badawi. This deal smells a rat.
isn’t all these excuse for disposal supposed to have been considered during the due diligence and investment appraisal by the top management?
invested in Dec 2004 and disposed in 2005? the short time frame suggest that there could be enormous oversight in the financial and operational appraisal process and the only people held accountable are the tax payers, it seems.
It also suggest that someone connected to the power that be must have received tremendous sum for commission. Without commission and corruption no one in the right would have sold MV Agusta shares for RM5.00.
No son or SIL would ask their father to sell at such price of RM5.00 except there is something for them!