DRB-Hicom MD meets Vince cable in Group Lotus HQ

In today's EDP24
http://www.edp24.co.uk/home/vince_cable_holds_lotus_talks_with_drb_hicom_boss_1_1368182

I see that DRB-Hicom have met with Vince Cable.

Business secretary Vince Cable yesterday discussed the future of Norfolk car maker Lotus in a face-to-face meeting with the boss of new owner DRB-Hicom stating the government stood ready to “reactivate” a £10m pledge to support the firm’s development plans.
Hicom’s group managing director Dato’ Sri Haji Mohd Khamil Bin Jamil flew into the UK for the talks which were organised in the past week and come days after the Malaysian owners, who bought parent company Proton in January, insisted they would seek a “win-win” solution for the company’s 1,200 staff and the wider community when deciding the future of the car maker.

  I hope that Vince and Dato' Jamil talked about my Motorsport University proposal. I am of the belief they both are aware of it.

I have written to DRB-Hicom, presented at the Asian Strategic Leadership Institute, and have been interviewed by Bernama. Plus I have been in contact with UKti and people with Proton and Lotus.

I hope both of these leaders discussed the proposal. If they like it, then others will follow.

Here is the Bernama TV interview.

Local Norfolk MP Richard Bacon voices concerns over Lotus in Parliament

In my last posting I talked about my gut feeling that Lotus would come out the other side of this DRB-Hicom takeover in good shape.
I am an outsider. I have worked for Lotus in Malaysia. I am not in contact with any Lotus insiders.
I trust my gut.
However!
Several News outlets (BBC/ITV other) have covered the local Norfolk MP Richard Bacon.
He expressed doubts in the House of Commons.
I have taken this from the ITV coverage.

http://www.itv.com/news/anglia/2012-04-25/new-sale-fear-for-lotus-cars/

South Norfolk MP, Richard Bacon has told Parliament about his fears for the future of Lotus Cars.

He led a debate last night in which he claimed that Lotus has appointed professional services network, KPMG with a mandate sell the group, possibly to a Chinese business.

"The fact that KPMG has been appointed with a mandate sell Group Lotus to the Chinese is not an enoucraging sign.

"Nor is the fact that the Malaysian banks want their money back from Proton.

"I fear that proton will say it has decided to keep Lotus - while negotitating with the banks for as long as possible to write-off or reduce debt - and then hand what is left of Group Lotus to the Chinese or liquidate it."

– RICHARD BACON MP, SPEAKING IN THE HOUSE OF COMMONS Let the dust settle and see what transpires.My Charity project 'Innocence lost in the ice cream forest' is now being formatted for hardback.I have a little more control over this, than the future role of Lotus in the Motor industry.The book will be available on Amazon. All royalty payments go directly to charity.At the end of all this I still have the Motorsport University project. My gut feeling ... The book... The Motorsport University project... and Lotus will all be successful.(I never said I was bright!)

My gut feeling regarding Group Lotus

This post is based on my gut feeling.
Regarding Group Lotus.
I have no idea if the present management will remain in place. Proton are going to put in a Senior Manager.
This is not surprising. DRB-Hicom stated they were surprised at the autonomy Hethel enjoyed.
They have not named the Proton man. When I worked in GM Ruesselsheim, GM always had an executive who reported back to Detroit.
Proton will have an executive who reports back to Shah Alam in Malaysia.

When I attended the ASLI auto conference in 2009, I was joined by a local Automotive celebrity.
This person now has a role with Caterham. I got the impression he felt that Proton would like to sell Group Lotus.
So when I saw that Dany Bahar will get 5% enterprise value of any sale,I was not surprised. At the time Proton hired Dany Bahar, they probably wanted to get Group Lotus in a healthy position, so they could walk away with heads held high.

http://www.telegraph.co.uk/finance/newsbysector/transport/9219816/Lotus-chief-Bahar-gets-bonus-if-sports-car-maker-is-sold.html

Mr Bahar’s contract, seen by The Daily Telegraph, says he is entitled to 5pc of the enterprise value of Group Lotus if it is sold or 5pc of the value of its shares if the car maker is floated on a stock market anywhere in the world.

The potential payment comes on top of a guaranteed annual payment of at least £1.2m, including a £600,000 salary and performance-related bonuses.

Mr Bahar joined Lotus in 2009 and he was offered the new contract extension in December last year, a month before DRB-Hicom announced its investment in Proton.

Things change:

One thing is DRB-Hicom has synergies with Group Lotus. They have a University. A private University.
The proposal to open global Motorsport University campuses could benefit both Malaysia and the UK.

Second, whilst being a private concern (DRB-Hicom), they have strong links with the Malaysian Government. If the Malaysian Prime Minister asks them to seriously investigate any and all potential synergies with a view to keeping Group Lotus Malaysian, with a strong but regulated base in England, they will comply.

David Cameron recently visited Malaysia. He asked the PM and DRB-Hicom to keep Hethel open.

http://www.telegraph.co.uk/finance/newsbysector/transport/9212526/David-Cameron-monitoring-Lotus-very-closely-over-fears-it-will-leave-UK.html
Mr Cameron said: "I raised this issue with the Malaysian Prime Minister and with the new Malaysian owners of Lotus's parent company. Lotus makes a key contribution to the UK automotive sector. The sector is doing well and I want to see Lotus succeed and to have a secure future. We are in contact with the company, monitoring the situation very closely and ensuring that it knows about the regional growth fund money that is available."


If DRB-Hicom unload Group Lotus now it would be messy. They (Group Lotus) would be viewed as a basket case. Invest more... WISELY... and it could be a win win for everyone.

My gut feeling is common-sense and political pressure dictates a healthy and profitable future for Group Lotus.

I hope so anyway.

My charity book is free on 22nd April. Download and GIVE money for free.

If you download my eBook on the 22nd of this month, you will make a donation (about $2 USA) to charity.
The book is free to download. It is set up for Kindles, but can easily be downloaded onto computers and other devices. Free apps are available for download onto iPads etc.
The paperback is coming along. Tilo keeps plugging away formatting the book for publication. Patience, it will be available soon...
http://www.amazon.com/dp/B007B16T60
https://www.amazon.co.uk/dp/B007B16T60
https://www.amazon.fr/dp/B007B16T60
https://www.amazon.it/dp/B007B16T60
https://www.amazon.es/dp/B007B16T60

As an aside. Sue Williams has endorsed the book.
She has written a book (many actually) telling of her travelling adventures.
Here is a video made in the Australian outback. She was researching her latest book.
http://www.suewilliams.com.au/
I'm proud of her. Sue obviously isn't (too) scared of the unknown.

Corporate Shenanigans. Dany Bahar and Azman bin Abdullah open a new company

The Lotus soap goes on.
I'm not sure what comment to make on this...
http://www.edp24.co.uk/business/norfolk_mp_presses_for_house_of_commons_debate_on_the_future_of_group_lotus_1_1350788

Now, in a further twist, the EDP has learned that Group Lotus boss Dany Bahar was instrumental with another director, Azman Bin Abdullah, in registering a new joint venture, Lotus Youngman, at Companies House on January 13, three days before the sale of Proton was announced.

Lotus last night said Mr Bahar was unavailable to comment as he was heading to the Beijing Motor Show with officials from China Youngman, which imports Lotus cars.

comment

As I write... It looks like Syed Zainal is now Proton MD . I met Syed at an ASLI conference. I was the moderator when he presented his paper. He was very professional. I liked him. He did say he would look at my proposal. As far as I know he has not.

This a video, taken a day or two ago. Syed Zainal is presenting the New Proton Preve. I assume the people he shares the stage with know of Dany Bahar's 'Corporate' status? 

UKti to discuss Malaysia British trade tomorrow

I see in today's STAR newspaper.

Talks to boost KL-London trade and investments

According to the article David Cameron's visit to Malaysia will be followed up by a meeting with the Malaysian Ambassador in London...

KUALA LUMPUR: A review of British Prime Minister David Cameron's visit to Malaysia will top the agenda in a key meeting with the UK Trade and Investment (Ukti) agency in London tomorrow.

The discussion between the agency's top brass and Malaysia's High Commissioner to Britain Datuk Seri Zakaria Sulong will be an immediate follow-up to Cameron's visit, the first by a British prime minister to Malaysia in almost 20 years.

I have sent a PDF with some video attached to the UKti in KL. It was related to my proposal. MUM a Motorsport University. I know it was received and viewed.

I do not know if it went any further! I've tried anyway.

This weekend was the Grand National in Aintree (near Liverpool). Two horses died. Sad. 

The BBC will not be covering the race next year. Also sad. They will be the media partners for the OPEN University, which seems to be gathering strength, and is advertising in the national newspapers.

Maybe they should look to broaden their educational coverage?

Something for tomorrows UKti meeting (maybe).

Here is portion of an article I have just read:

http://keepingbrandshuman.com/2012/04/05/the-open-university-see-great-success-with-itunes-u-app/

The Open University see great success with iTunes U app

The Open University is the first school in Europe to reach one million active subscriptions through the iTunes U app and the OU says it is seeing more than 40,000 new downloads each day.

“With more than 50 million downloads to date, we know that students value our high-quality learning materials, and that is really underlined by the speed with which we have reached one million iTunes U app course subscribers,” said Martin Bean, Vice-Chancellor of The Open University.

Organised confusion...

As I write this blog entry, I am hoping my horse will come in tomorrow. Organised Confusion runs in tomorrows Grand National.
I bet once a year. Due to all the noise surrounding Lotus, the name seemed quite apt. 16/1 are not great odds for the National.
I'll enjoy the race anyway!
A lot of press about Lotus. Some fact based. Some conjecture. Some (particularly when referring to Dany Bahar) vindictive.
Think I'll just enjoy the National... go for a jog.
Let the Universe take care of it!
Have a nice weekend.