Right after the report by The Malaysian Reserve a week ago comes another report by The Edge Daily on the Proton and Volkswagen negotiations. According to the report, a Memorandum of Intent will be signed soon and after further due diligence, things should speed up. The collaboration would most likely involve marketing, manufacturing, and distribution.
One thing I found interesting in The Edge’s report – apparently unnamed sources said the negotiations were taking so long to complete because the government wanted to “make sure the ecosystem of vendors and other companies providing services to Proton would not be eliminated.”
Proton shares peaked at 5.10 ringgit (a 18 sen, or 3.7 percent jump) but later settled down to a 1.2 percent increase to 4.98 ringgit as of 3:24 p.m. today.
Read the source to find out more.