New publisher takes over regional TopGear ops

Before I begin, I Jeff Lim's a LOYAL TopGear Magazine reader.  Having missing only 1 issue (Issue 16) since its inception back in 2006.  Can't you believe it?

I always look forward to New Top Gear Malaysia issues every end of the month at Newsstand, I can't subscribe because I have no Credit Card.  I LOVED most of the articles to bits.  

Top Gear Malaysia WAS the BEST MALAYSIAN Motoring Magazine until MNM (MNM = Motor News Malaysia) and S4M Magazines came along, both brought to you by the Guys from NST Cars  Bikes and Trucks (CBT).

Here's hoping they don't change OR little change to the Magazine.  Wishing new OTR Multimedia ALL the BEST in Managing the Magazine.

Without further ado, here's the Press release of this news:

New publisher takes over regional TopGear ops

SOURCE: Click me!

KUALA LUMPUR: Operations of TopGear Magazine in Malaysia, Singapore and Indonesia are being overhauled, with the website now under the same management.

The April issue of the magazine, scheduled to hit newsstands in March,  will be the first under Big Road Media Pte Ltd, which has been awarded the licence by BBC Worldwide to publish the motoring magazine.

Big Road Media is planning to launch the Indonesian edition by the end of 2012. 

Foo

In tandem with the changes, the company has appointed Louis Foo as a consultant to oversee the magazine's activities in the three territories.

Foo was previoulsy Measat Publications Sdn Bhd vice-president and he helped start the magazine in Malaysia and Singapore five years ago.

“I’m very excited to be coming onboard for this project, having worked on TopGear Magazine from its inception," said Foo.

Big Road Media has appointed OTR Multimedia to run its Malaysian operations and Big Bang Media Pte Ltd as its publishing partner in Singapore. The Indonesia partners will be announced soon.

OTR Multimedia is a member of the OTR group of companies, which also publishes the On The Road motoring classifieds magazine.

BBC Worldwide licenses TopGear Magazine globally with localised versions for such countries as the Philippines, South Korea, Russia, the Netherlands, New Zealand, Thailand and India as well.

Proton SOLD to DRB-HICOM. What's next?

The Star Business, Wednesday January 18, 2012

Disclaimer: THIS IS NOT MY WORK. SOURCE: Click me

After Proton stake sale, all eyes on merits of deal

Behind the news - By Choong En Han

NOW that the dust has finally settled on who will own Khazanah Nasional Bhd's 42.74% stake in national carmaker Proton Holdings Bhd, the focus will shift over to the merits of the deal.

This is important to shareholders of DRB-Hicom Holdings Bhd, the conglomerate which is not only buying the stake but also making the mandatory general offer for the rest of Proton. And it is important for shareholders of Proton as well.

There will be questions whether Khazanah has struck a fair deal, given that the stake was bought at roughly RM8 per share over several years and in various tranches from different shareholders.

We can expect the picture to become clearer when DRB-Hicom groupmanaging director Datuk Seri Mohd Khamil Jamil meets the press today.

Proton has a list of well-known problems, including its extremely underutilised Tanjung Malim plant, its Lotus turnaround plan and its need for a strategic global partner to drive future growth.

The controlling stake in Proton has come full circle and is finally back to DRB-Hicom. And it looks like it will be the turning point for the national carmaker and this is where all the hard work begins for DRB-Hicom. Words like partnerships, collaborations and strategic joint ventures have been the more favoured keywords recently for Khamil to relate to Proton.

People looking at Proton Exora multi-purpose vehicle at a Proton showroom. The question now is whether DRB-Hicom can lift Proton out of its financial doldrums.

No stranger to these keywords himself, indeed Khamil has led DRB-Hicom to greater heights by associating the automotive and industrial conglomerate to other global automotive marques and establishing its presence throughout the entire value chain of the automotive industry.

The question now is whether DRB-Hicom can lift Proton up from its financial doldrums after being dragged down by provisions made for its Lotus turnaround plan.

Despite being a domestic-centric car manufacturer, Proton needs to bank on its export base to increase its sales volume and drive the next phase of growth, as the local market seems to be reaching a saturation point with the total industrial volume hovering around 600,000 units.

Collaborating with a foreign strategic partner seems to be the obvious choice for Proton to become a global brand or, maybe, in the nearer term, an Asean brand.

Analysts and observers alike have touted Volkswagen to be the best suitor for Proton, with the latter's significantly underutilised Tanjung Malim plant fitting Volkswagen like a glove to meet the German marque's ambition for a manufacturing hub in Asean.

Excess fat: ‘Proton cars at a logistic centre in Kuala Langat. CIMB believes DRBHicom is well positioned to reap significant low-hanging fruits.’

There is also another potential collaboration on the cards with long-time partner Mitsubishi Motor Corp to assemble Mistubishi cars and the possibilities of engine development.

However, with the entry of DRB-Hicom, the Mitsubishi deal might be scuttled in favour of a more muscular foreign strategic partner like Volkswagen.

Meanwhile, questions also arise about Proton's upcoming launch of “P3-21A”, which is touted to be the model that will make Proton's presence felt in the global car scene. The sudden entry of DRB-Hicom would definitely have an impact on the planned launch of the new car in March.

Currently, DRB-Hicom derives almost 60% of its automotive revenue from business ventures with the national carmaker. It is also the biggest distributor of Proton cars under EON Bhd, besides Proton Edar. The group's manufacturing and engineering companies are all first-tier vendors to Proton, accounting for RM600mil to RM700mil worth of business.

No doubt synergistic gains and operational benefits abound in this link-up between DRB-Hicom and Proton but there will be questions on how Proton's current plans can gel up with DRB-Hicom's future direction.

Recent Related Articles:

• Jan 18

  After Proton stake sale, all eyes on merits of deal

• Jan 18

  Proton revving up

• Jan 17

  Future ventures must benefit Proton, says DRB-Hicom group MD

• Jan 17

  DRB-HICOM has a workable business model for Proton

• Jan 17

  DRB-Hicom a natural frontrunner for Proton stake

  
  
• Further readings:

http://paultan.org/2012/01/17/drb-hicom-picked-to-get-proton-what-will-happen-next/

http://paultan.org/2012/01/18/reports-drb-hicom-to-cut-protons-costs-review-lotus/

DRB-HICOM declares interest in Proton

SOURCE (Click me!)

PETALING JAYA: The Proton Holdings Bhd saga continues with DRB-HICOM Bhd group managing director Datuk Seri Mohd Khamil Jamil coming out to confirm that the group has put in a bid for the national carmaker.

“It is up to the owner (Khazanah Nasional Bhd) to decide on the best suitor. Proton has been in my radar for a long time. Back in 2009, we submitted a proposal with conceptual ideas to Khazanah. However, at that time, they were not interested to dispose of Proton,” he said.

Last Thursday, Proton chairman Datuk Seri Mohd Nadzmi Mohd Salleh had stated his intention to bid for the national carmaker.

Speaking to reporters at a media retreat yesterday, Khamil did not provide details of DRB-HICOM's bid but admitted that Proton would not be an easy project due to the stiff market competition.

Khamil

Asked on the price offered, he said: “You cannot say that we will be buying it at the speculated price. It depends on our capability and capacity. At the end of the day, it is on a willing-buyer willing-seller basis. You cannot measure it based on net tangible asset. It should be priced at a practical, reasonable and workable range.”

Khamil said the group submitted a proposal to Khazanah a few months ago, after the group got wind that Khazanah's stake in Proton was up for sale.

“I'm a long-term player, I never go for short-term gains,” he said.

In filings to Bursa Malaysia last December, DRB-HICOM denied any knowledge of a bid for Proton and of plans to sell a stake in Proton to Volkswagen AG.

The company issued the statement in response to a StarBiz report quoting sources that said DRB-HICOM would divest a portion of its controlling stake in the national automaker to Volkswagen in the second stage of a two-stage bid to win control of Proton.

Khamil said: “I think Proton is a good company and there is a lot of potential in Proton. It might just need a little bit of impetus to trigger the next phase.”

On the bigger picture of the national car company in the local industry, he said Proton had done well considering its humble beginnings.

“I think it can achieve greater heights, complement and enhance the national automotive industry,” he said, adding that after all, Proton was part of the DRB-HICOM Group.

Currently, Proton is still an important business partner for DRB-HICOM, with almost 60% of its automotive revenue derived from business ventures with the national carmaker.

DRB-HICOM is the biggest distributor of Proton cars under EON Bhd, besides Proton Edar, and the group's manufacturing and engineering companies are all first-tier vendors to Proton, accounting for RM600mil to RM700mil worth of business.

He said he was not merely looking at acquiring the national car company per se as he felt that it was still subject to further fine-tuning.

“Proton is able to reach greater heights, and it all depends on how well you handle and manage it. It is capable with the technologies, expertise and products that it has now,” he said.

Khamil did not rule out further partnerships and collaborations with Proton even after the acquisition if it were successful.

“The paradigm shift for DRB-HICOM is to have strategic partnerships and collaborations with our partners. We must never be shy and restrict ourselves by not asking for help. We cannot live within the constraints of our boundaries and say we are the best. We must end off with production and manufacturing,” he said.

Citing human capital development as an integral part of Proton, he said the group must invest in research and development and not merely rebadging cars.

Meanwhile, over the weekend, a business weekly reported that more suitors were vying for the Proton stake, with the latest being businessman Tan Sri Arumugam Apavoo Packiri and Gerald Lopez of Genii Capital.

Arumugam is said to be an associate of former prime minister Tun Mahathir Mohamad, who is currently the adviser to Proton.

It is speculated that the duo are looking to rope in a former chief executive officer of Proton who helmed the company from the mid-1990s to 2004.

Related:

RELATED

» DRB- HICOM best suitor for Proton stake, says research house

Three-way fight for Proton stake shaping up – DRB-Hicom, Naza and Proton chairman Datuk Mohd Nadzmi involved?

Three-way fight for Proton stake shaping up – DRB-Hicom, Naza and Proton chairman Datuk Mohd Nadzmi involved?

SOURCE: Click me!


The marketplace is buzzing with news of a three-way tussle for a stake in Proton that’s currently owned by Khazanah Nasional Bhd.

The three parties are said to be DRB-Hicom, which is controlled by tycoon Tan Sri Syed Mokhtar AlBukhary, parties linked to the Naza Group and a management buyout lead by Proton Chairman Datuk Mohd Nadzmi Mohd Salleh. All three parties have been previously linked with the national carmaker.

Currently, Khazanah has a 42.7% stake in Proton, and should a party succeed in buying over the Government’s stake, it will trigger a general offer. Business Times quotes a source involved in the bidding process as saying that the bids were in the range of between RM6 and RM7 per share. The same source added that “whoever is buying Proton is getting the company on the cheap” based on Proton’s March 2011 book value per share of RM9.84.

This development is drawing in the speculators, and Proton’s share price went up by another 89 sen yesterday to close at RM4.50, with over 20 million shares changing hands. DRB-Hicom, thought to be the front runner in the bid, also saw its shares rise. The counter gained 20 sen to end the day at RM2.20, the highest point since August. DRB-Hicom is of course the company that is assembling Volkswagen cars at its Pekan plant.

Proton’s share price might still rise, since OSK Holdings Bhd and RHB Capital Bhd have upgraded the stock to a “buy” with a fair value of RM5 per share. It will be interesting to know more about the plans each of the bidders have for Proton. Nothing is out at the moment, but we will keep tabs on this.

'Proton-Perodua merger a distant possibility'

The merger between Proton and Perodua is still a distant possibility, given the limited synergy and discomfort from Perodua's stakeholders, says MIDF Research.

On Tuesday, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed said, the government would not force Proton and Perodua to merge, and any such move would be based on mutual agreement between the stakeholders.

According to MIDF Research, should the merger go through, Proton could resolve its excess capacity issues, streamline purchases with vendors, share research and development capabilities.

It would also enable Proton to spread its wings to the networks and good affiliates of Perodua, UMW and Daihatsu.

MIDF Research also contends that Perodua is less keen on a merger as its forte was in compact cars that would not use the same platform as Proton.

Both its affiliates also appear less keen on the merger as Proton could regain its throne in the market,lost to Perodua since 2006.

"There are some positive things happening for Proton such as the India ventures, but in the overall scheme of things, the company should trade sideways in the foreseeable future," the research house said in a research note.

MIDF Research has also set the new target price for Proton at RM4.80, 40 sen lower compared with its previous target of RM5.20, due to a series of negative newsflow.

The newsflow includes the termination of the Volkswagen talks, concerns over the RM2.4 billion capex needed for the Lotus turnaround plan and the reduced hope of a merger with Perodua.

At 12.10pm, Proton's share price declined one sen to RM4.49.

-- BERNAMA

Read more: 'Proton-Perodua merger a distant possibility' http://www.btimes.com.my/articles/20110126124755/Article/#ixzz1CDXybpZr

RELATED ARTICLE:

'Proton-Perodua merger won't be forced' 

http://www.btimes.com.my/articles/20110125132253/Article/

 

That's all folks, thanks for having the time and patience to read this blog entry.

Mahindra to buy Ssangyong...

The Star Business: Tuesday November 23, 2010 MYT 11:45:00 AM

India's Mahindra signs US$463mil deal to buy Korean Ssangyong

SEOUL, South Korea: Mahindra & Mahindra Ltd. and Ssangyong Motor Co. say they have signed an agreement for the Indian company to acquire the South Korean automaker for $463 million in new shares and debt.
The two companies announced the deal Tuesday after India's Mahindra & Mahindra was named the preferred bidder for Ssangyong in August.
They said in a statement that sport-utility vehicle maker Mahindra will take a 70 percent stake in Ssangyong. The companies said they expect the deal to be completed in March 2011.
SUV-maker Ssangyong went into court-approved bankruptcy protection early last year amid falling sales and mounting red ink. It was majority-owned by SAIC Motor Corp. until the Chinese company lost management control during the bankruptcy process. - AP

For Another perspective from The Korea Herald, a partner of Asia News Network, click here
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