Proton : Dived today ... why? I dont know. Dont catch as Proton is always a lousy stock in my opinion. With markets uncertain, Proton ... err ... will be bail-out, dont worry. Perhaps, the parasite-proton might leech on Perodua?
Proton broken her strong support at 2.98, and those bought at peak RM4.80 is a pitiful case. First of all, this Proton always have stories attached to her. Heck, they made many stupid business decisions over the many years. Even the 'protection' given by the gov failed to protect Proton, which infested with so many in-efficient management and policies. Being a glc, we have to close one-eye to corruption, of coz. Please remember that Malaysia is a corruption-free country, ok? All our ministers own millions(and unreported BILLIONS for some) through their hardwork and their savvy investment minds!! Never doubt their abilities to earn money in a very clean manner, ok?
So, since Proton is our National pride(LOL) ... and it has been the 'cheapest' car around(explaining why I am driving a Proton, ok?) ... WHY so many Malaysians prefer to dump out more good money to buy other brand of cars when we could have the cheapest and the high quality of car-maker, what else could we ask for?
Yes, blame it on Perodua .. coming up with models which seem to be more attractive than Proton? I dont know about that but records showing MyVi is the most popular model, not Proton's Tiara? Tiara? Haha ... oooppss ... sorry, I cant help myself remembering Juwara where Chinese branding it as kun-choi car(kereta jenazah). Haha .. talking about nice car models.
Satria ... that is a Mitsubishi's model la ... but Satria is the best looking car, in my opinion.
Waja ... or its replacement, Gen-2 or Persona ... yes, mem-personakan, right? Does it sell well enough? Hey, how could Proton lose money or not earning a lot of money? What? Spend a lot of money in developing new models like ... emm ... Inspira? That giving me some inspirations again!!
Yes, Lotus ... remember Lotus? What F1 again? Malaysia's pride? My butt!!
Hmm .. I can go on with Proton as a stock. But, I am a proud owner of my Proton Saga.
One day ... I hope Proton will come out with something good but I may not live long enough to see Proton turn into a new leaf? If after 25 years or so in business with protection, one company could not MONOPOLISE the local market, I m certain they will not be able to pull themselves out. Without Mahathir, Proton is a slow-death ... what do you think?
BUY PROTON CARs, ok? Beli-la buatan Malaysia!!
Proton slumps to 2-yr low
Written by Joseph Chin of theedgemalaysia.com
Tuesday, 06 September 2011 13:46
KUALA LUMPUR: Shares of PROTON HOLDINGS BHD fell to a more than two year low at the midday break on Tuesday, Sept 6 following the disappointing results and aggravated by the selldown of Malaysian equities by foreign funds.
At 12.30pm, Proton was down 16 sen to RM2.75 with 121,500 shares done. The current price was sharply lower compared to CIMB Equities Research’s target price of RM3.25
The FBM KLCI fell 7.34 points to 1,455.78. Turnover was 314.54 million shares done valued at RM543.83 million. There were 441 gainers, 138 losers and 220 stocks unchanged.
On Aug 26, Proton announced its 1Q net profit for the period ended June 30 plunged 94.6% to RM4.55 million from RM84.68 million a year ago largely due to the higher expenses incurred by Lotus Group International Bhd. Revenue fell 2.9% to RM2.23 billion from RM2.29 billion while earning per share were 0.8 sen compared with 15.4 sen.
CIMB Research said Proton’s results were a huge disappointment as core net profit accounted for only 3% of its and consensus full-year forecast.
The research house had also slashed its FY12-14 earnings by 35%-60% to reflect higher losses from Lotus. It had also widen the discount it tagged to Proton’s historical price-to-net tangible asset 0.5 times from 10% to 20% to reflect the heightened risk that Lotus’s turnaround exercise poses to Proton’s earnings.
“This pushes down our target price from RM3.65 to RM3.25. We downgrade Proton from Neutral to UNDERPERFORM as this result could trigger a de-rating,” it had said.