Tun M : M.V. AGUSTA AGAIN

1. Robb Report - the magazine for the rich and famous reported in its February 2010 edition the following under "Front Runners";

"A new MV Agusta that lives high off the hog... Since acquiring MV Agusta for more than US$100 million in 2008, Harley-Davidson has helped revitalise the 65-year-old Italian brand. The new 2010 MV Agusta (www.mvagustausa.com) which debuted in November...."

2. People might just remember that Proton sold its share of MV Agusta for one Euro (RM4) to some unknown Italian who subsequently sold a part of the company to Harley-Davidson for the sum stated above (more than 100 million US Dollars equal to at present exchange rate more than RM340 million Ringgit).

3. We may also remember that the remaining part of MV Agusta was sold to BMW for about the same price i.e. more than 340 million Ringgit.

4. So we sold for RM4 something that the buyer, the mysterious Italians sold for more than RM680 million.

5. We may also know that Proton bought a part of MV Agusta for approximtely RM560 milion Ringgit.

6. The previous management of Proton claimed that it had saved millions of Ringgit by selling its share for RM4.

7. I am still trying to figure this out. Maybe those who read this blog might be able to enlighten me.

8. I am designated as adviser to Proton but during the period of the previous management, it was the management who advised me that the sale had been carried out. Obviously the duty of the advisor was to be advised and not to advise.