According To Dunno What Rumours: Proton Is NOT ..

Oh no...

Am I shocked?

Surely not!

The minute I saw Jose Barrock and his sources as the writer for the article featured on this morning posting, According To Sources: Proton To.. and the share already had flown sky high, I sensed that something is not right.

And true enough the evening news confirmed what I suspected: Proton says not selling retail arm to EON

• MALAYSIA'S national carmaker Proton Holdings said today it was not planning to sell its distribution unit to car dealer Edaran Otomobil Nasional (EON).
  
  “Proton would like to clarify that it has no plans to divest its distribution arm, Proton Edar Sdn Bhd, to EON,” the carmaker said in response to a newspaper report.
  
  Citing unidentified sources, a financial daily reported today that Proton was looking to inject Proton Edar into EON.
  
  Proton said discussions with EON on the rationalisation of its sales and service network, which started since April 2008, were ongoing.
  
  The stock ended 13 sen higher at RM3.12 after trading as high as RM3.20 during the day.
  
  Proton share price has doubled from its March low of RM1.50, supported by the outlook optimism of its newly launched Proton Exora multi-purpose vehicle. - Bernama, Reuters

And on the The Edge Financial Daily, this is what was reported: Proton, EON still in talks

• KUALA LUMPUR: Proton Holdings Bhd and Edaran Otomobil Nasional Bhd (EON) are still in talks over the proposed rationalisation of their existing joint distribution network and service centres.
  
  Proton said on April 21 that the discussions were related to a memorandum of understanding announced on May 2 last year for the rationalisation.
  
  “The parties are currently in discussion to finalise the above and shall make all necessary announcements at the appropriate time and in accordance with the requirements of the regulatory authorities. As at todate, there are no developments or agreements that warrant announcement,” it said.
  
  Proton said as a proactive business entity, the national carmaker and its subsidiaries would continue to initiate and consider various business opportunities and arrangements.