Proton Holdings Bhd expects to finalise it’s recovery plan before the end of 2006. The plan will depend on the finalisation of a strategic partnership with another party, of which details have not been announced yet. Proton managing director Syed Zainal Abidin says the partnership takes a bit longer to finalise as Proton needs to be very selective with the details of the alliance. He did not reveal any further details on who it’s partner is.
Proton will also reveal it’s vendor consolidation plan within 4-5 months, and assured vendors that the system revamp will not drop vendors for the sake of dropping, but will weed out problematic and less committed vendors. More details on Proton’s recovery plan here. Syed Zainal Abidin also said the strengthening ringgit has helped with Proton’s margins with component purchases in the Japanese yen and other foreign component sourcing like Renault engines for the Proton Savvy.
Proton has also won the most trusted and favourite brand award in the 2006 Reader’s Digest Trusted Brands Awards for the car category. Criteria for the award was not mentioned in reports.