This is some rather exciting news – business daily The Malaysian Reserve has a report quoting unnamed sources that Proton and Volkswagen will be signing a Memorandum of Understanding regarding a tie up involving stake holding within the next two weeks. The MoU is regarding the establishment of a new company which will own certain core Proton businesses.
Volkswagen will hold 20% of the stakeholding in this new company, but it is unknown who will hold the remaining 80%. The unnamed source also said Volkswagen would have management control of the new company, and the first project is likely to be a Perdana replacement model similiar to the Volkswagen Passat.
Proton managing director Datuk Syed Zainal denied knowing of any new developments regarding the Proton-VW deal when queried by The Malaysian Reserve.
You can pick up The Malaysian Reserve at most news stands and it goes for RM1.50. I was in Mid Valley making photocopies of some documents when I spotted the Proton headline on the front page of the paper in the news stand.
I rushed to d’lish to blog this, so this post is powered by d’lish’s tasty scones, hot tea and free internet. ;)