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Tony Pua wonders whether gov't 'paid' Geely to acquire Proton
Published:  May 29, 2017 9:47 AM
Updated: 4:28 PM

DAP parliamentarian Tony Pua today questioned whether the government had "paid" Chinese automaker Geely Automobile Holdings Group through the latter's acquisition of a 49.9 percent stake in Proton.

Pua cited Finance Minister II Johari Abdul Ghani, who said that there will be no more subsidies for Proton after the final payment of RM1.1 billion.

The Finance Ministry is also set to disburse the final RM250 million from the RM1.5 billion soft loan provided to Proton last year.

"For those that did the simple mathematics, effectively, Geely is paying only RM170 million to acquire a 49 percent stake in a company which the government is about to inject RM1.35 billion of cash," Pua said in a statement today...

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