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Home News Auto News DRB-Hicom: Proton Bidders Complete Due Diligence; Decision Within H1 2017 DRB-Hicom: Proton Bidders Complete Due Diligence; Decision Within H1 2017 Auto News Kon | February 07, 2017 02:18 pm Suitors for Proton have completed their due-diligence of the company over the past weeks ahead of potential bids for a controlling stake expected soon, the company’s current owners DRB-Hicom Bhd have confirmed.DRB-Hicom is currently waiting for the said parties, yet to be officially disclosed but reported to include China-based Geely Automobile Holdings and France’s PSA Group, to submit their bids. DRB-Hicom also reaffirms its commitment to finalize its selection of a foreign partner for Proton within the first half of 2017. “The entry of a foreign strategic partner will enable Proton to revitalize itself through access to new platforms, powertrains, and technologies which will further improve Proton’s range of products and its quality,” said DRB-Hicom Bhd’s Group Managing Director Dato’ Seri Syed Faisal Albar.Faisal also reaffirms that whilst DRB-Hicom is ready to offload a majority stake in Proton, it remains committed to revive the brand’s fortunes and is thus keen to find a right foreign strategic partner that will be critical to accomplishing that goal."There are a few criteria that we are looking at. First, we ask ourselves whether or not there is a strategic fit [between the two car makers]; and then whether or not there is operational fit, and cultural fit. These three things are quite key to DRB-Hicom and Proton," said Faisal in September 2016.Elaborating on the three aforementioned criteria, Faisal explains that a good strategic fit will ensure Proton achieves competitive economies of scale domestically and also ensure that Proton cars grow strongly within the ASEAN markets and subsequently beyond.From Proton, Faisal explains that the eventual foreign partner will have access to Proton’s current range of models and unused capacity of the Tg Malim plant. The foreign partner will also have access to Proton’s in-house R&D team as well as chassis tuning expertise of Lotus Cars UK.“It is important to point out that DRB-Hicom’s search for a foreign strategic partner for Proton is a critical exercise to ensure the sustainability of the national car maker.“We have stated before that we will maintain a significant equity in Proton, and this has not changed. The foreign strategic partner search is not about shirking our national responsibility but about enhancing Proton as a bona-fide car maker, and eventually putting them, and Malaysia on the global map,” Faisal said.DRB-Hicom is also keen to protect the interests of Proton’s current network of vendors. On this point, Faisal emphasized that “DRB-Hicom shall also assess the intention of the potential partners in utilizing the current ‘home-grown’ vendor network. This is a very significant element in our evaluation, as DRB-Hicom who also own subsidiaries serving Proton as vendors, would avoid for these ‘home-grown’ network to be diluted substantially.”“DRB-Hicom is confident that with the right foreign strategic partner, Proton will enhance its brand equity and can again be a successful carmaker as it was in the 1980s and 1990s,” Faisal added.Related: Geely – Fridge-maker To Car-maker In Just 12 Years, Who Are They? ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags DRB-Hicom Geely Proton Print Related News Proton Deal Nearing Completion; Geely To Appoint New CEO For Manufacturing Auto News Kon | September 16, 2017 DRB-Hicom Bhd and Zhejiang Geely Holding Group are almost ready to finalize the deal that will see the Chinese firm step in and assume a 49.9 percent ... Proton Group Boards Receive Nominees from DRB-HICOM and Geely, Revitalisation Plans Auto News Aswan | September 29, 2017 With the signing of the Definitive Agreement between DRB-Hicom and Geely Holding just 100 days behind us, the two companies have come to an agreement ... Proton Foreign Partner To Be Announced Within H1 2017; 15 Feb Deadline Not True Auto News Kon | February 15, 2017 DRB-Hicom Bhd has officially refuted reports stating the search for a new foreign strategic partner (FSP) for Proton is expected to conclude today, ... Trading Of DRB-Hicom Shares Suspended, Foreign Partner To Be Announced Auto News Eric | May 23, 2017 The Star has reported that DRB-Hicom is prepared to make a material announcement. The company has requested Bursa Malaysia Securities for suspension ... Comments
DRB-Hicom: Proton Bidders Complete Due Diligence; Decision Within H1 2017 Auto News Kon | February 07, 2017 02:18 pm Suitors for Proton have completed their due-diligence of the company over the past weeks ahead of potential bids for a controlling stake expected soon, the company’s current owners DRB-Hicom Bhd have confirmed.DRB-Hicom is currently waiting for the said parties, yet to be officially disclosed but reported to include China-based Geely Automobile Holdings and France’s PSA Group, to submit their bids. DRB-Hicom also reaffirms its commitment to finalize its selection of a foreign partner for Proton within the first half of 2017. “The entry of a foreign strategic partner will enable Proton to revitalize itself through access to new platforms, powertrains, and technologies which will further improve Proton’s range of products and its quality,” said DRB-Hicom Bhd’s Group Managing Director Dato’ Seri Syed Faisal Albar.Faisal also reaffirms that whilst DRB-Hicom is ready to offload a majority stake in Proton, it remains committed to revive the brand’s fortunes and is thus keen to find a right foreign strategic partner that will be critical to accomplishing that goal."There are a few criteria that we are looking at. First, we ask ourselves whether or not there is a strategic fit [between the two car makers]; and then whether or not there is operational fit, and cultural fit. These three things are quite key to DRB-Hicom and Proton," said Faisal in September 2016.Elaborating on the three aforementioned criteria, Faisal explains that a good strategic fit will ensure Proton achieves competitive economies of scale domestically and also ensure that Proton cars grow strongly within the ASEAN markets and subsequently beyond.From Proton, Faisal explains that the eventual foreign partner will have access to Proton’s current range of models and unused capacity of the Tg Malim plant. The foreign partner will also have access to Proton’s in-house R&D team as well as chassis tuning expertise of Lotus Cars UK.“It is important to point out that DRB-Hicom’s search for a foreign strategic partner for Proton is a critical exercise to ensure the sustainability of the national car maker.“We have stated before that we will maintain a significant equity in Proton, and this has not changed. The foreign strategic partner search is not about shirking our national responsibility but about enhancing Proton as a bona-fide car maker, and eventually putting them, and Malaysia on the global map,” Faisal said.DRB-Hicom is also keen to protect the interests of Proton’s current network of vendors. On this point, Faisal emphasized that “DRB-Hicom shall also assess the intention of the potential partners in utilizing the current ‘home-grown’ vendor network. This is a very significant element in our evaluation, as DRB-Hicom who also own subsidiaries serving Proton as vendors, would avoid for these ‘home-grown’ network to be diluted substantially.”“DRB-Hicom is confident that with the right foreign strategic partner, Proton will enhance its brand equity and can again be a successful carmaker as it was in the 1980s and 1990s,” Faisal added.Related: Geely – Fridge-maker To Car-maker In Just 12 Years, Who Are They? ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags DRB-Hicom Geely Proton
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
Proton Deal Nearing Completion; Geely To Appoint New CEO For Manufacturing Auto News Kon | September 16, 2017 DRB-Hicom Bhd and Zhejiang Geely Holding Group are almost ready to finalize the deal that will see the Chinese firm step in and assume a 49.9 percent ...
Proton Group Boards Receive Nominees from DRB-HICOM and Geely, Revitalisation Plans Auto News Aswan | September 29, 2017 With the signing of the Definitive Agreement between DRB-Hicom and Geely Holding just 100 days behind us, the two companies have come to an agreement ...
Proton Foreign Partner To Be Announced Within H1 2017; 15 Feb Deadline Not True Auto News Kon | February 15, 2017 DRB-Hicom Bhd has officially refuted reports stating the search for a new foreign strategic partner (FSP) for Proton is expected to conclude today, ...
Trading Of DRB-Hicom Shares Suspended, Foreign Partner To Be Announced Auto News Eric | May 23, 2017 The Star has reported that DRB-Hicom is prepared to make a material announcement. The company has requested Bursa Malaysia Securities for suspension ...