1. Our Finance Minister's guarantee that the 3rd National car will not involve government investment and only private funds will be involved is not enough.

2., Even though Proton was also 100% privately owned in 2016, the government had no choice but to bail out Proton with a RM1.5 billion soft loan so that Proton can repay its debts to the vendors and save an estimated 30,000 jobs in Proton and its supply chain.

3. Whether Proton is owned by private companies or not, during the 30 years that Proton was in existence, ordinary Malaysians had to bear as much as RM360 billion in the form of higher car prices and its correspondingly higher loans, higher car insurance premiums and higher spare parts cost..

4. Other than guaranteeing that Proton will be 100% financed by the private sector, our Finance Minister has to guarantee that no protectionism will be imposed be given that can cause car prices to increase.

5. He should also guarantee that the 3rd national car project will also not be bailed out by the government via direct loans, grants or guarantees should it run into financial problems.

6. There should also not be any special treatment given to the privately owned 3rd national car company nor should there be any cross-subsidy to their owners indirectly as what happened when a government fund was forced to buy a building at a very high price from the firm that had help bail out Perwaja steel.

7. if the finance minister can make those additional guarantees in writing, then the 3rd national car projects should and must enjoy the full support from all Malaysians including myself.

Link to Dr Wee Ka Siong's Facebook: https://www.facebook.com/weekasiongmalayenglish/photos/a.1005755592925278.1073741829.1002345083266329/1083604735140363/?type=3&theater    

Datuk Seri Dr Ir Wee Ka Siong
MCA Deputy President
MCA Member of Parliament for Ayer Hitam

-MCA Online-