Aug 2, 2006

Proton report: Tengku Mahaleel surprised by leak

Any hidden reason behind the leak?

Link : The MAIN problem with PROTON is of poor management?.

Excerpt from MalaysiaKini
Proton’s former chief executive officer Tengku Mahaleel Tengku Ariff is surprised as to how an audit report of the national car manufacturer by Pricewaterhouse Cooper had leaked to the media.

“The report is was it exposed to the public. How did it get to the media?” he asked when contacted today.

The report found that Proton’s corporate governance was poor. Among others, it claimed that some projects were implemented without proper consultation resulting in billions being spent without in-depth discussions.

Mahaleel and Proton advisor and former prime minister Dr Mahathir Mohamad have strongly criticised the Agusta sale, demanding information on why it went ahead and saying their credibility is at stake over the deal.

And maybe there will be a court case against the previous management.

Excerpt from Business Times
PROTON Holdings Bhd says it is too early to decide whether any legal action would be taken against the previous management after a third party report may have showed mismanagement in the company's affairs from 1996 until late 2005.

However, Proton managing director Syed Zainal Abidin Syed Mohamed Tahir did not rule out the possibility of going to the courts.

"We are looking into details of the matter. For now, it is quite early to say whether there will be legal action," Syed Zainal told Business Times yesterday.

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