Thursday, July 17, 2008

DAP : RM 800 million ringgit MV Agusta scandal

Lim Guan Eng has called for a Royal Commission of Inquiry into the RM 800 million ringgit MV Agusta scandal to determine how Proton lost RM 500 million when it could have earned RM 300 million.

DAP agrees with the call by former Prime Minister Tun Dr Mahathir Mohamad for a Royal Commission of Inquiry into the RM 800 million ringgit MV Agusta scandal to fully disclose mismanagement and financial misjudgments by Proton Holdings Bhd, action against those responsible and new measures to be implemented against such weaknesses. This follows the shocking announcement by Harley Davidson Inc two days ago that it will purchase Italian motorcycle manufacturer MV Agusta, once owned by Proton Holdings Bhd, for US$109 million (RM352 million), making the total sale proceeds of RM 800million.

For the full press statement, please go to here

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