mv-agusta-abdullah-mahathir

New leadership, new Cabinet and of course new agenda. Someone might have interpreted that change in leadership as an opportunity to undo previous administration’s legacy. Well – it’s wasn’t that long.

Today it was reported that a panel will investigate MV Augusta sale.

The Public Accounts Committee is expected to call up Proton Holdings Bhd for clarification on the sale of Italian motorbike manufacturer MV Agusta for E1 (RM4.80).

PAC chairman Datuk Azmi Khalid said the commission would like Proton Holdings to explain the sale in 2006. Azmi said PAC also planned to seek further clarification from other government-linked companies.

“Although it is not our responsibility to call up the GLCs, we are doing so to get a clearer picture of their annual accounts.

“We have drawn up a schedule and the sessions will begin next week.”

He declined to name the GLCs to be called up by the committee.

During his premiership of less than six years, Abdullah inevitably inviting the wrath of Mahathir for apparently undoing some of his legacy. He canceled the ‘crook bridge’ project and sold MV Augusta for RM1 to an unknown entity in Italy.

Mahathir strongly objected to both decisions and later really pissed off when he found about this report by CNNMoney on July 14,2008:

Harley-Davidson Inc. said Friday it will buy Italian motorcycle maker MV Agusta Group for about $109 million to boost its presence in Europe, giving it entry into the popular performance bike market there.

Proton management had no choice but defended the sale of MV Augusta by saying that it help them to cut the losses and that ‚Äúthere were no operational, engineering, and technological synergies between Agusta and Proton”.

Bet, it would not stop with MV Agusta. Next ‘crook bridge’ to Singapore will be revived, Putrajaya will be expanded. Why not?