Screenshots

one euro... let me see. how about going around shopping for other company that is making losses and has a huge debt with a price tag of one euro. volla! problem solve.

To prevent WTO queries on the unfairness of the NEP 30% free shares of foreign companies for Malaysians, we must export our NEP internationally in this globalization trend environment. Why must we help the Italians? Well, because they had never conquered any lands in Asia especially in Nusantara as a colonial power. Yes they were in Africa - Ethopia etc but that was far away from our kampungs. We must look at this as a charity and the good we do will come back to us sooner or later.

Correct me if I am wrong, didn't Ducati make a loss - oh, I forgot, Malaysian public
must give money away to non-Malaysian companies.

Proton wants to enter the US market, well, unless it can meet the high safety
requirements, there is a good money loss idea. USA only just agreed to let
Lotus sell their cars because it is such a low volume but warns
Lotus "that all future products will have to be specifically designed to meet
global safety, emissions and lighting standards". If not, Lotus can get sued
and again, more money given away.

How about exciting styling AND good fuel consumption. Just go thru the webpage and
compare what the fuel consumption for cars are these days. USA will invest in technology
that will lead to less oil consumption, cars will be using alternative fuel in the future.
In fact, some European countries have public transport using hydrogen which is 3 times
more expensive than petrol prices BUT give 3 times the mileage. Hence, cost just the
same as petrol.

So, maybe the new management will be in tune with the global automotive market
and turn Proton around. So, I say, give the new Proton management a chance to prove
themselves for the next 5 years. After all, we gave the last CEO enough time to see his
performance.

For a generation, Proton screwed the Malaysian public. It's time we screw it back.

Why don't they sell PROTON for RM1?
I am sure many people would like to buy

Q3: With this, how do you see the future of Proton (after the Agusta sale)?

A3: We can make another press conference on this. Today, we concentrate on this (sale of Agusta). I know all the strategic plans because I wrote them.

Wah another potshot coming. Can't wait lah!

BTW the keyword here is I wrote them.

We basically reap what we sow. The system of transparency, integrity, accountability were all lost during the last 2 decades or more. Today, these 2 citizens are demanding what many of us seek for many moons. Since these 2 chaps had the power to change the system then but decided otherwise then, you reap what you sow today!

The present administrator inherits the rotten and broken stall from the senior citizen of the two and it is too early to comment on the results while the mending process is going on! After all we have been screwed for the past two decades. We hope it could still be mended.

RM 400 is nothing compared to the cheated and lost generations in terms of education system, accountability, integrity and transparency of the government machinery. How does it compared with the MAS shares scandal in rescuing some individual crony?

Crocodile tears do not help. Of course we won’t forget that shedding tears was one of his tactics!

JEFF OOI says Commentors in Screenshots should pick themselves up. When the facts are staring at us, don't give way and give in too easily to emotional outburst, rants, whining and the stereotypal centing of angst. Counter with your constructive arguments. Face the facts coldly, economics should be approached with teh management rudiments, then gives us your fair, rational, logical comments. Rants and angst like these are rubbish by any standard even in the third world.

"They questioned Proton's wisdom in selling MV Agusta for just one euro, saying that Proton lost of total of 75.99 million euros, or RM348 million from the sale."

What the two M's are conveniently neglecting to mention here are that Proton was also liable for ALL of MV Augusta's debts, estimated in the region of 100 millions of Euros if they hadn't sold the company.

Yes, Dr. M and Tengku M., I would prefer to lose RM 348 million NOW (thanks in no part to your stupid decision to buy an ailing company) than be stuck with a crippled company heavily in debt to the tune of almost RM 1 billion later.

In investment circle, there is a common wisdom, which is "cut your losses" and is the case here. The losses and answers to the self-serving press conference by the ex-CEO has been reported in Bernama before - http://www.bernama.com.my/bernama/v3/news_business.php?id=175701

Why no journalist directly confront him? Oh I forgot, this is Malaysia.

Common sense will tell you that if Agusta is such a hot buy it would not have been on the market for up to 14 months for you to decide to buy. Somemore if got such fantastic technologies for cars, it would not be on the verge of bankruptcy and all Korean car companies can kaput already.

Our friend here dares to miss one 10M Euro instalment and then has the audacity to negotiate with Euro bankers for deferrment as part of his turn around strategy. Wah, he thinks Euro bankers are Malaysian bankers that will readily take hair cuts or indefinite repayment schedules and can easily be negotiated out of their legal rigths for repayment? Any Euro bankers that were crazy enough to entertain such negotiation would have trouble answering to their board and monetary authorities. Even if it happened, there will be further conditions attached like penalty interests charges - a bigger black hole and possible financial meltdown of the parent company.

Malaysians should be grateful that this lemon is out of our hands and ignore these self-serving hypocrites' conferences.

Buying an ailing / financially distressed company can be a good way to buy intangible assets (eg processes as Mahaleel puts it) at a cheap price.

However, a financially distressed company is essentially that - distressed. And laden with debts.

If the cause of the distress is poor financial management, then a financially strong acquirer with good management can add value and steer the acquisition to health.

The idea is to negotiate a really cheap price and to work out the cashflows realistically. Why realistically? Because if you don't, the cost of your bargain acquisition balloons as loan commitments fall due.

If the cause of the distress is an unsaleable product or poor operational DNA, then no financially strong company in its right mind would consider buying in the first place.

The 2 M's have now told us why they bought and what their strategic plans were. (Why didn't they say so earlier?) We now have an opportunity to evaluate and comment on those plans. Are they realistic?

Still, the 2 M's haven't told us what their cashflow plans were to meet the debt commitments.

TM said "If Proton can raise sales of Lotus and MV Agusta to 60,000 to 80,000 units, it can earn as much money as selling 150,000 Protons per year. This is why Lotus and MV Agusta are critical to Proton's future"

But notice he said IF. Did he think about how much money Proton would have to pour in to generate those sales?

TM also said "M.V Agusta's pre-tax profit forecast for 2006 as adjusted by Price WaterhouseCoopers was RM73 million (best case), RM34 million (base case) and RM31 million (worst case)."

Well, 2006 has yet to conclude, and Proton has already sold - so we won't know if MVA will make that profit, will we?

But what about 2005? MVA was concluded Dec 2004 after 14 months' (deliberations by the 2M's). Why not tell us what the forecast was for 2005?

Were any of the 2M's professional advisers negligent? Besides PWC who were the other advisers? Were they a well rounded team of advisers ie not just accountants?

Did the 2M's think that they can buy a distressed company and not provide a single sen of financial support for its operations, let alone for it to generate income to Proton? How much did they budget for such financial support?

Let's hear it from the 2M's. After all, I still believe that what they have to say today should have been said at the time they bought MVA (see my earlier comment about disclosure when they bought)

If that had been the case, the public could have contributed their views and perhaps stopped the purchase. Instead, today we have the 2M's complaining about disclosure.

What you sow is what you reap.

Isn't it ironic, don't you think? (Alanis Morrisette's Jagged Little Pill for the 2M's, LOL)

National prides? Sales of Agusta for a mere EUR1? Who cares? As long as there is some personal gains.

Ask a kampong folk, he cares about who manages Proton? If possible he would just walk in to Proton plant and drive away a car, for free.
I met and had a face to face discussion with the German Doctor whom headed the Proton project negotiation team from VW. We knew all along there would be no deal as the keywords used in the negotiations were again and again "national", "local vendors' survival", etc.
Again, who cares for the fact that VW could procure parts for proton at 30% below proton prices? You know what I mean.

MV Augusta
Bought for RM348 million
Sold for Euro 1 to escape from EURO 100 million debt

So the buyer of Augusta now got Augusta for same price that Proton bought them initially but without any debt!!!!

cool!!! do proton want to buy my mamak stall?? I sell for RM 20k, I still owe the bank RM 20k also.

later on I promise proton buy back the stall for Rupiah 1 that way I clear my 20k loan from the bank. :D

Let me see if I got the math right.

MV Augusta had an outstanding debt at the point of purchase of over 100M Euros. Let's take it as a base of 100M Euros. Since Proton had to assume the debt when they bought the company, they are really paying 176M Euros for the company. They have now sold it for 100M+1 Euros.

The profit forecast as stated is at RM35M for 2006, raising to RM228M in 2010. That means Proton is probably not able to cover the outstanding debt that comes with MV Augusta, let alone cover the price paid.

Maybe some economist or financial wizard out there can explain if this is good investment, just looking at the surface. If not, it cannot be because of the forecasted profit from MV Augusta that has prompted Proton into buying the company.
I wonder what the strategy was and how that will help Proton directly or indirectly.

Proton needs to put Tengku Mahaleel, Dr Mahathir and MV Augusta behind them. They are all yesterday news and thus no longer part of the equation unless they have something constructive to tell the public.

Hey,

If you want to penentrate one market, of course you study the local requirement etc before selling your product there. This is a fundamental thing and you assume Lotus will be so stupid?

If US is so fancy about fuel consumption, why we can't see City IDSI topping the sales chart there? It's a whole different market and playground...

Research and development is on-going and of course with the technology possess by Agusta, it makes you have more option and flexibilities. Ans also the 'corridor' it possess, means you don't have to do heavy promotional activities to gather consumer awareness... and it provide you a base to launch your product.

By the way, who are we to give Proton 5 years to perform??? :D If we think we can do better work than them, then please send you resume to the head-hunter or Proton directly...

Cheers.

Jeff you are absolutely spot on in asking us to be non emotional when commenting on this Augusta issue and I hope someone with the proper crdentials out there can enlighten us on the IFs should we NOt sell this ailing but technically deemed supremo based purely on whats reported in all the local/foreign media !Guess its not too pretty either way ( selling or keeping this comapny) right ?

Facts ?

With a history of opaqueness at the expense of consumers, I would like to believe that those are true facts on cash flow and profitability.

When Proton was awashed with inventory, did it slash production accordingly? How was the sales/inventory (inventory turnover) ratio of the company improved during the period ?

Cashflow is profit + depreciation. Do we see that from Mahaleel or Proton ?

What about break even point? Is that revealed ?

One thing crystal clear to all Malaysians is that to protect Proton, duties were raised to keep imports out thus making Malaysian cars one of the most expensive in the free market world.

Thank God for AFTA.

I'll like to be objective but lacking facts, I can't. :)

The buying decision might be a stupid one, but to sell it at EUR1 is not smart either.

Looks as though the knives are coming out for Pak Lah....slowly, but surely.

He has got to do something fast, or else run the risk of being labelled as a "lame duck" PM and a "seat warmer" for someone who can carry out the M vision for Malaysia.

The whole Proton issue is merely a shadow play in a much bigger game. Ditto for the NEP, MAS, GLC reforms etc.

Let's hope that Pak Lah and his advisors are up to the challenge. Globalisation and survival versus sidelining and irrelevance.

we posted at klsetracker.com this --hope it helps your readers!
"14 February 2006

TENGKU MAHALEEL SLAMS PROTON MANAGEMENT FOR OPAQUENESS OVER AGUSTA DEAL
TENGKU MAHALEEL, the former CEO of PROTON HOLDINGS, slammed the current management of PROTON HOLDINGS for opaqueness over its decision to sell of MV AGUSTA MOTOR spa for Euro One Only to Italian Company - GEVI spa in Dec 2005 after PROTON had injected Euro 70m (RM310m) into the ailing motorcycle manufacturer. TENGKU MAHALEEL was at the helm of PROTON when the funds were injected. The total loss including fees will amount to Euro 76.0m.
TENGKU MAHALEEL who was speaking at a Press Conference on Feb 13, 2006 held in Petaling Jaya said that the sale was "ill-conceived" resulting in putting PROTON's future at risk by reducing its engineering capability and access to new markets via AGUSTA's network.
The EDGE ONLINE version of the press conference quoted TENGKU MAHALEEL saying that for PROTON to survive, the Company "..needs a few large base markets and that ..."... PROTON will not be viable if the Company's future cash flows fell by 30%.
He further added that the "combined income of PROTON, LOTUS and AGUSTA can fund PROTON's need of RM500m a year to maintain its level of investments for new products and market expansion - possibly RM200m to RM300m coming from LOTUS and AGUSTA ..." resulting in "...LOTUS and AGUSTA .. crucial for PROTON's future..". He further questioned that without AGUSTA .. where will PROTON find the RM200m a year profit contribution for its future when it (PROTON) loses the Malaysian market. The Malaysian auto market is being liberalised under WTO rules.
PROTON's share of the Malaysian market had declined sharply from 63% five years ago to 40% up to first half of 2005. TENGKU MAHALEEL also said that profit per unit from LOTUS or AGUSTA was 2 to 5 times higher than PROTON's product. He said that if the sales of LOTUS and AGUSTA can be raised to 60k to 80k units per year, they can earn as much money as selling 150k units of PROTONs a year. Futher LOTUS and AGUSTA are known brands and would not cost as much as having to promote a new brand. PROTON had spent up to RM1 billion on advertising and promotion.
TENGKU MAHALEEL challenged the current management for having said that AGUSTA drained its earnings saying that PROTON's share of loss in AGUSTA up to Oct 30, 2005 was only RM28m.
TENGKU MAHALEEL said that the PROTON management should reply to questions raised by him and DR MAHATHIR (the former Prime Minister) over the sale of AGUSTA.
TENGKU MAHALEEL concluded that he and DR MAHATHIR will be interested to buy LOTUS for "One Pound" since a precedent had been set. "
(from YL,...Happy VDae!)

1) For your information, Proton will never hire a non-Malaysian to run Proton.

2) USD21,725 for a Toyota Prius. In 2001 it sold 5,600 units. In 2004, 50,000+ unit was sold. There is a six month waiting list in the US for it. I know as I bought one. Fuel consumption 4.5L / 100km. It better than the City IDSI.

3) R&D development will take time. European bus makers have move to building hydrogen fuel buses.

4) Brazil have cars running everyday on ethanol.

5) GM and Ford have alternative fuel vehicle and are ramping up production.

6) Studying the local requirement is always easy. Any idiot can do it. Lotus would have done so, BUT will the product MEET THE LEGAL REQUIREMENTS?

7) Maybe Malaysian still would like to drive a BMW or a Lotus. Petrol prices here are not control items nor as dirty cheap as it is in Malaysia. Branding is secondary to cost of running a car. Can you afford to have spend say RM 1300 permonth on just petrol? Then again, BRANDING is more important, never mind about being poor, as long as we all can drive a car that has been tuned by Lotus eh...

Why didn't proton make use of the one year period ever since the acquisition to produce the said RM10,000 cars with the motocycle engine? If campro, took only 9 months to realised from scratch to prototype, then there shouldn't be any problem for this one as well. Why didn't it happen? If proton would've taken progressive steps, then the decision to sell off MV Agusta will not emerge as well.

I think we should sell Mahat... and Mahal... for RM1 each, encumberences included. Any taker?

For those who are blindly shooting at the 2TM's because they don't like them, bacalah balik Jeff's Screenshot posting. It doesn't matter that you don't like the 2TM's. Just because you don't like them, it doesn't mean they are wrong! It doesn't even matter if you don't like or agree with the Proton project from inception, what is important is the now.

So many of you complained that the 2TM's before complained without facts and figures. Now they are presenting figures, including a PWC profit projection for MV Augusta (which used to be good enough, but just because its in favour of MV Augusta being retained is now put in question by some), and best to worst case loss projections (far less than claimed by Proton board), as well as value projections from value of Augusta engines in Savvy (which is engineering based), etc, that all but prove that the decision to sell MV Augusta for Euro 1 was WRONG!

Some of you complained that you didn't know how it was bought in the first place. Of course, many of us Proton watchers knew it took 14 months to buy MV Augusta - it was done with GOOD GOVERNANCE, as Proton consulted with external financial experts, compared the option relative to others such as Ducati, and even the option of buying the left-overs of Rover. All of this was done TRANSPARENTLY! Yes, the 2 TMs were transparent, but many here don't know or can't believe this because you didn't bother to know then.

The acquisition process was very through and based on econs. Note that the Rover option was publicly rejected as infeasible due to econs whilst the MV Augusta was accepted as it was positive for the future. Pleaselah don't act like you were kept in the dark about this when the whole thing were in the local and foreign press!!!

Why is it so many here, now and before, say they didn't know the process of buying MV Augusta when I and many others who care about Proton did? I can even tell you why MV Augusta was more valuable to us compared to other car companies - other major players already have an MV Augusta equivalent as a strategic fit or do not have an equivalent to Lotus to match to MV Augusta as a strategic fit! Other companies had either small car outfits or superbike outfits already or they do not have a marketing match up. In contrast, Proton was planning to combine Lotus and MV Augusta marketing, rationalising distribution networks whilst integrating them, allowing both Lotus and MV Augusta labels to be sold at lower cost and higher profit!

On top of that, MV Augusta's expertise in small, powerful compact engines fits the future market trend for smaller, less fuel burning but powerful cars that can be used for small cars at first and developed to greener options in the future (not as an alternative fuel option, but as a low consumption option).

Finally, and this is the real point, the 2TMs are trying to expose the fact that the currect Proton board is cheating us as a nation! Proton is a national asset owned by all of us, and the Proton Board has the ARROGANCE to say they only need to tell the bursa about the sale of MV Augusta. They even rushed the sale so it was done before the current CEO could have a say and did it behind closed doors! This is against Pak Lah's policy of transparency and is POOR CORPORATE GOVERNANCE.

Even if you dislike Proton, you should still be challenging the Proton board to sell OUR ASSETS at a profit, or at least fair value, not at a discount! Judging from the figures presented here, SACKING THE PROTON BOARD IS TOO KIND, THEY SHOULD BE TAKEN TO COURT FOR CRIMINAL BREACH of TRUST as they seem to be trying to cover up their incompetence!

The SC must investigate. That is what our mantra as a nation should be.

I got a question for all. Why is it when people talk about proton, there is a lot of anger?

A M Ubaidah S said:

"All of this was done TRANSPARENTLY! Yes, the 2 TMs were transparent, but many here don't know or can't believe this because you didn't bother to know then."

and

"Pleaselah don't act like you were kept in the dark about this when the whole thing were in the local and foreign press!!!"

For the benefit of everyone here, can he please give us some links to archived articles from the "local and foreign press"?

I've looked at Proton's announcements on the KLSE website and couldn't find any of the details the 2M's are disclosing now. Perhaps A M Ubaidah S can let us know why this is so.

Far as I'm concerned, if they didn't disclose to the KLSE voluntarily ie beyond the basic requirements, you can't claim GOOD GOVERNANCE.

Goodness gracious, it’s back to Proton bashing again!

Let me say this:

• If I have a hidden agenda, from the way I write you will know I don’t want people to believe the 2TMs.

• If I have no business experience, from the way I write you will know that I don’t understand long-term investment or technological advancement.

• If Proton does not benefit my community, from the way I write you will know I don’t support the project no matter how damn good it is.

Eh... if everyone is buying fuel economical car... then why Prius only can sell 50000 units and not more as the US market is so big? And how come my friend is still buying a new V8 5.6 liter Dodge? So you means everyone should be driving a cheap FC car even they have money to drive high performance car?

Different company target different segment. But without the launch pad, it will be difficult to penetrate. Just look at why VW would like to partner/acquire Proton, so that they can assemble and sell their car in APAC!

It's regardless whether Proton will hire a non-malaysian.. But who are we to give them 5 years...? Talk is always easy.

Well there, you seem to have lots of emotions and lacking in facts.
---------------------------
Your statement:
"If US is so fancy about fuel consumption, why we can't see City IDSI topping the
sales chart there? It's a whole different market and playground..."

ANSWER: City IDSI is not topping the sale charts - Toyota Prius has a better price and
fuel consumption for the US market.

Your statement:
"how come my friend is still buying a new V8 5.6 liter Dodge? So you means
everyone should be driving a cheap FC car even they have money to drive high
performance car?"

ANSWER: Your friend does not represent the US market as it is only a single sale.
In US, everyone have a choice on their car they want to buy as the price is not
set by the Govt. but market forces. Beside, I never make the statement that everyone
should be driving a cheap FC car. I just corrected your mistake on the assumption
that the City IDSI will topping the sales chart because of it's price and fuel
consumption. You should stick to your own Malaysia market as you clearly do not
understand the US auto market and only to continue to make stupid statements.

---------------------------

Your statement:
"Eh... if everyone is buying fuel economical car... then why Prius only can sell
50000 units and not more as the US market is so big?"

ANSWER: If you can somehow produced from 50,000 units to 100,000 units in 24 hours or
even one month, then please SEND YOUR RESUME to Toyota or even any of the big
international automakers. They are all trying to ramp up production on some of their
models and they seem to be unable to do it as fast as you think you can. Who know,
maybe you are the hidden solution to all our problems in the automotive industry.
---------------------------

Your statement:
"Different company target different segment. But without the launch pad, it will be
difficult to penetrate. Just look at why VW would like to partner/acquire Proton,
so that they can assemble and sell their car in APAC!"

Your statement:
"Research and development is on-going and of course with the technology possess by
Agusta, it makes you have more option and flexibilities. Ans also the 'corridor' it
possess, means you don't have to do heavy promotional activities to gather consumer
awareness... and it provide you a base to launch your product."

ANSWER: VW is already big in China and own Audi. Isn't Audi being sold in Malaysia?
VW does not need a launch pad as it has already DESIGNING, ASSEMBLY and SELLING their
cars in APEC. Beside, as a base to launch your product, Lotus brand would have been
better than Agusta unless Proton wants to launch motorcycles. Isn't that why Proton
bought Lotus in the first place? On the R&D issue, refer to chips report as I cannot
agree more with him.

Let us not forget the main issue here. The old Proton CEO performance is in question.
Did he make the right decision here? Proton is a car maker with public money. Share
holders should expect a return and yes, talk is easy - for you it seems. You question
everything but you lack any data or understanding on how an automotive company works
to back your statements. Yes, WHO are YOU to give them 5 years as YOU would not even
able to fill the last CEO shoes, let alone run a department in an international
automotive company.

Question for A M Ubaidah..how come the two TM have not made any police reports...if as you claim there is criminal breach of trust?

My question to your statement 1: Why is not Prius topping the sales chart then?
-----------------

My question to your statement 2: So mean good FC cars will top the sales chart? Why is not Prius topping the sales chart then? You statement indicate that many people will go for hi-tech cheap FC car and you even mention to us that you are buying one to ‘make a point’, so now why contradict? The point I want to say is there are many people out there and they all have their own preferences. Yes, many people are buying Prius, but does it means that trying to sell anything in US will be a failure?

-----------------

My question to your statement 3: So you mean the waiting line for Prius is like, more than 50,000? And have to wait few months in US like how we wait for MyVi here? I didn’t mean that I can do it for Toyota, so no point wasting your effort to paint the picture for me.

-----------------
My question to your statement 4: You think Agusta just make motorbike? Do you know they have the technologies to produce engine? So the old CEO is making a mistake to buy Agusta, what about selling it for 1 euro? My comment doesn’t mean that I know everything. So please enlighten us why VW would like to acquire Proton?
----------------
Why bother to say that my comment is with emotion. It just a comment… Anyway, say is always easy for you and me.

Questions after question. If you cannot work it out, then I can never explain it as you have not contributed anything useful to the topic.

I suggest that you go back and read carefully what I have written. I think I have make my point as you no longer have anything to contribute except to continue asking for more information.

You are right....I should not waste my effort on you...

You have the right facts, so? It is just blatant pieces of information spraying across the comment board. You just mention what is the scenario, expectation and figures in the other market and what is actually the point you tried to made other than painting negative pictures of me, trying to proof me wrong for trying to poke holes on your fact?

Yeah, if you think you shouldn't waste time, I will also stop wasting time to put up a constructive argument.

No hard feelings though...

seeevil666, here are some samples of the local and foreign press reports that came out after a few months of closed door deliberations and announcing beginning of open due diligence studies and 8-9 months prior to actual announcement on formalisation of the purchase of MV Agusta by Proton. Total effort took 14 months as TMahaleel indicated and announcement to shareholders (KLSE etc) would have happened at least simultaneously due to statutory requirement - you must have searched wrong.

This link carries the STAR article which I couldn't extract from STAR archive.

http://news.motorcycle.com/article.motml?sid=2479

BBC article announcing due diligence:
http://news.bbc.co.uk/2/hi/business/3268745.stm

A far cry from the actions of the current Proton board's poor corporate governance no?

Art Chan - original letter from 2TMs was to the Securities Commission to investigate the MV Agusta sale. This is the formal process of investigation around corporate governance in Malaysia as the SC has the mandate to investigate. Once SC finds corporate governance lapse is to the level of CBT, they will bring the police in for enforcement.

That is why it is important for us the people to urge the SC to expedite their investigation into Proton, as this could be our Enron!

Dear A M Ubaidah S

Many thanks for the links to The Star and BBC.

My family agrees with you:

“That is why it is important for us the people to urge the SC to expedite their investigation into Proton, as this could be our Enron!”

Yes, we the people have the moral duty to press the Proton Board to answer the 8 questions posed by the 2TMs.

Yes, we the people have the moral duty to press the SC to investigate.

It unbelievably shocking that the “responsible” board of a national project funded by the people’s money can so casually sweep the matter aside.