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Friday, January 02, 2009

31-12-2008: Nadzmi returns to Proton as chairman

KUALA LUMPUR: Proton Holdings Bhd has appointed Nadicorp Holdings Sdn Bhd executive chairman Datuk Nadzmi Mohd Salleh as the national carmaker’s new chairman with effect from tomorrow, replacing Datuk Mohd Azlan Hashim.

In a statement yesterday, Proton said Nadzmi was no stranger to the group, having served as deputy managing director of Perusahaan Otomobil Nasional Sdn Bhd from Nov 2, 1992 and then as MD from 1993 to 1996.

Nadzmi had also held various senior positions in Edaran Otomobil Nasional Bhd, including as executive director and chief executive officer. He is now a director of several companies, including Ranhill Utilities Bhd, JT International Bhd, VS Industry Bhd and Kumpulan Kenderaan Malaysia Bhd (KKMB), which is the major shareholder of bus company Konsortium Transnasional Bhd (KTB), formerly Park May Bhd. Nadzmi is the chairman and managing director of KTB.

Nadzmi, via KKMB, holds a 40.3% indirect stake in KTB after the recent disposal of a 22% stake comprising 65 million shares on Dec 1. He also holds a small direct stake of 1.3%, or 3.92 million shares, in KTB.

Nadzmi was also appointed director and deputy chairman of Proton’s subsidiary and distribution arm Proton Edar Sdn Bhd from Sept 22, 2005. He is currently the president of the Badminton Association of Malaysia.

“Although there remains a lot to be done, Proton today is undoubtedly on a better foundation to move forward and better compete with other automotive companies,” Azlan said at a Proton board of directors’ meeting yesterday.

Azlan, 51, has been with Proton since December 2004 and is resigning as chairman and director. He was appointed a director on Dec 17, 2004 and assumed the position of chairman on Feb 7, 2005.

Azlan added that Proton’s progress had been made possible by the strong support of the government, its shareholders, the wider automotive community including component vendors and dealers, directors, management and staff.

Azlan, an accountant by training, is now a major shareholder of Silk Holdings Bhd or SILK (formerly Sunway Infrastructure Bhd), with a deemed interest of 36.16% comprising 65.09 million shares in the expressway concessionaire, which has proposed a regularisation scheme to put itself on a better financial footing.

SILK owns Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd, the concessionaire that operates the Kajang traffic dispersal ring road in Selangor. Azlan and his business partner Johan Zainuddin Dzulkifli bought the SILK stake from the latter’s bondholders for RM11.1 million cash or 17 sen per share.

SILK was traded unchanged at 18 sen while Proton rose two sen to RM1.85 yesterday. KTB was untraded at 22 sen.



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What is the main factor for you to buy a Proton Car?
Low price and no other choice due to budget
Good resale value
Low maintenance cost
Ride & Handling is good
Reliable parts, chasis and engine
Good Styling exterior & Interior
Patriotism (I support Made in Malaysia Products)
Follow others (Follow Majorities should be the best choice)