Thursday, December 29, 2005

Big business with only 1 Euro

Malaysia national car builder Proton has sold its subsidiary,Agusta for 1 miserable Euro. Agusta was acquired by Proton for 7000 Euro with much fanfare on 7 July 2004 . Subsequently Proton pumbed in another RM 1.7 billions to cover losses incurred. It lasted barely a year and all we saved is 1 Euro. No profit and no technology transfer. After the MAS fisco,this is another big money sucker. Work harder you Inland Revenue guys out there,we need you to feed these big money suckers!

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