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Home News Auto News Govt Does Not Mind Foreign Owner For Proton; 15 Feb Deadline For Bids Govt Does Not Mind Foreign Owner For Proton; 15 Feb Deadline For Bids Auto News Kon | February 13, 2017 09:07 am The Government has no issues in letting a foreign partner assuming a controlling stake of Proton as the company is no longer under its direct ownership, but any interested parties will need to submit their bids by 15 February 2017, according to Bernama.The local news agency was quoting second finance minister Datuk Seri Johari Abdul Ghani, who also revealed that two local companies have expressed an interest to partner up with Proton as well, but with a stakeholding of less than 50 percent.He also reiterated that the Government has no further intentions of taking up a stake in the carmaker but that it could give its views on the company from time to time.Johari said that a foreign partner with new technologies and better cars would crucially help boost Proton beyond just relying on domestic consumption with an unsustainable production rate of just 200,000 to 300,000 units per annum.“We are making cars only for Malaysia, and this is not sustainable with a population of only 31 million. We also have Perodua and other car assembly brands.“I think it is all about volume, as well as quality and technology, alongside a good design. These are all the ingredients needed for a better car which people would buy,” he added.Proton’s search for a foreign strategic partner was one of several conditions imposed by the Government for the RM1.5 billion soft loan extended last April to help the company solve cash flow problems.Recent reports have pointed at Geely Automobile Holdings from China and the PSA Group from France as front-running bidders for Proton’s controlling stake.Last week, Proton's current owners DRB-Hicom announced that the various bidders have completed their due diligence studies on the company's books, but stopped short of confirming the identity of the bidding companies. ✕ 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 Proton Print Related News Proton Expects Better Fortunes In 2016 Auto News Hans | June 30, 2015 2014 has been a washout year for Proton and 2015 isn't looking good for the national carmaker. Total sales for calendar year 2014 reached a new low ... Proton Enters Joint Venture With China's Goldstar Auto News Hans | June 30, 2015 Proton has entered tripartite joint venture agreement with Britain's Lotus Group International Limited and China's Goldstar Heavy Industrial Co. Ltd. ... 30 Years of Proton – Tracing Back To A Time When Malaysians Cheered For Proton Insights Hans | July 13, 2015 Proton, that one word which mere mention in any headline on any publication will elicit strong, emotionally charged responses, be they for or against ... Remembering The Late Datuk Gurcharan Singh – A True Malaysian Who Made Proton A Success In The ‘80s. Insights Hans | October 22, 2020 On this day 30 years ago, Tun Dr. Mahathir launched the first Proton Saga. The first production Saga, bearing registration number Proton 1 was given ... Comments
Govt Does Not Mind Foreign Owner For Proton; 15 Feb Deadline For Bids Auto News Kon | February 13, 2017 09:07 am The Government has no issues in letting a foreign partner assuming a controlling stake of Proton as the company is no longer under its direct ownership, but any interested parties will need to submit their bids by 15 February 2017, according to Bernama.The local news agency was quoting second finance minister Datuk Seri Johari Abdul Ghani, who also revealed that two local companies have expressed an interest to partner up with Proton as well, but with a stakeholding of less than 50 percent.He also reiterated that the Government has no further intentions of taking up a stake in the carmaker but that it could give its views on the company from time to time.Johari said that a foreign partner with new technologies and better cars would crucially help boost Proton beyond just relying on domestic consumption with an unsustainable production rate of just 200,000 to 300,000 units per annum.“We are making cars only for Malaysia, and this is not sustainable with a population of only 31 million. We also have Perodua and other car assembly brands.“I think it is all about volume, as well as quality and technology, alongside a good design. These are all the ingredients needed for a better car which people would buy,” he added.Proton’s search for a foreign strategic partner was one of several conditions imposed by the Government for the RM1.5 billion soft loan extended last April to help the company solve cash flow problems.Recent reports have pointed at Geely Automobile Holdings from China and the PSA Group from France as front-running bidders for Proton’s controlling stake.Last week, Proton's current owners DRB-Hicom announced that the various bidders have completed their due diligence studies on the company's books, but stopped short of confirming the identity of the bidding companies. ✕ 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 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 Expects Better Fortunes In 2016 Auto News Hans | June 30, 2015 2014 has been a washout year for Proton and 2015 isn't looking good for the national carmaker. Total sales for calendar year 2014 reached a new low ...
Proton Enters Joint Venture With China's Goldstar Auto News Hans | June 30, 2015 Proton has entered tripartite joint venture agreement with Britain's Lotus Group International Limited and China's Goldstar Heavy Industrial Co. Ltd. ...
30 Years of Proton – Tracing Back To A Time When Malaysians Cheered For Proton Insights Hans | July 13, 2015 Proton, that one word which mere mention in any headline on any publication will elicit strong, emotionally charged responses, be they for or against ...
Remembering The Late Datuk Gurcharan Singh – A True Malaysian Who Made Proton A Success In The ‘80s. Insights Hans | October 22, 2020 On this day 30 years ago, Tun Dr. Mahathir launched the first Proton Saga. The first production Saga, bearing registration number Proton 1 was given ...