Friday, December 14, 2007

Proton still bullshitting Msia. RM3.5M profit from selling land & creative accounting

Read the last paragraph from this article attributed to Dow Jones...

Proton posted a RM46.8 million loss for the quarter ended June 30, it's fifth consecutive one in the red. It reported a net profit of RM3.5 million for the next quarter, but the profit came from the sale of land and a writeback of provisions for previous year's development costs.
Aha... so that's where the puny profit came from.

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