In an immediate response, Mahathir wrote in his blog (chedet.com) with his usual sarcasm that Proton’s “savvy management” had sold Agusta to an unknown company in Italy – Gevi SpA.
“Some months ago Husqvarna, a division of MV Agusta which manufactures scrambler sporty off-road motorcycles was sold to a German company, BMW for 90 million euro (RM450 million). Now the rest of MV Agusta has been bought by Harley-Davidson Motor Cycles of the United States for RM350 million.”
He argued that Proton has lost approximately RM800 million by selling Agusta for only RM5.
“The buyer invested one euro and made 160 million euro,” he said.
“Do we need a royal commission to look into this or should the ACA investigate this matter particularly the role of Credit Suisse who was paid a huge consultancy fee to advise Proton’s management who executed it.
“Or maybe we do not mind losing RM800 million because we have so much money.”
Editors comment: Just how economically sharp is this old man!