'Proton not a failed company'
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KUALA LUMPUR - The Malaysian government says that Proton is not a failure despite having pumped 13.9 billion ringgit (US$3.38 billion) in funds to aid the company.
International Trade and Industry Minister Mustapa Mohamed in a written reply said that the government had aided Proton by various means since its formation to ensure that they remained key industry players.
"In total, the government has given 13.9 billion ringgit in tax-exempted grants, inclusive of non-fiscal aid," he said.
Mustapa, who is also Jeli MP, said it was unfair to deem Proton as an unsuccessful company as it has contributed significantly to the nation since its formation in 1985.
"Proton has also created job opportunities as 12,000 Malaysians were working directly under them while 130,000 people were indirectly involved in the local automotive industry.
"The company has thus far contributed 24 billion ringgit in taxes in addition to committing over 500 local businessmen as parts suppliers and service centre operators," he said.
He was responding to Rasah MP Teo Kok Seong who had asked on how much financial aid the government had provided to Proton and why the automotive company had failed despite heavily being assisted.
(US$1 = 4.12 ringgit as of 5/26/2016 via oanda.com)
