Of late, there has been no shortage of conjecture about the possibility of Khazanah Nasional letting go of its 42.7% stake in Proton, with a number of potential suitors having being mentioned. UMW Holdings Bhd was among those mentioned in some reports, but it turns out that UMW has no plans to acquire Khazanah’s stake, Bernama reported today.
According to UMW’s group chairman Tan Sri Asmat Kamaludin, UMW has a lot on its hands already, and its focus was on its present commitments, mainly the partnership with Toyota and Perodua.
“I think we’ve already cleared that UMW is not making any bids. We at UMW are committed to our partner Toyota in enhancing its business here in Malaysia and making Perodua self-reliant pre- and post-NAP (National Automotive Policy),” Asmat said.
He added that as far as UMW was concerned, the Proton issue had not been discussed at board level, and a bid has not even been considered. “We’ve never made any bids. The reports say that shareholders of UMW have made the bid. I don’t know about that. Maybe you have to ask them,” he told reporters after the launch of the new Toyota Avanza.
Asmat added that UMW had plans to ensure Perodua post survive implementation of the new NAP, where the government has already indicated that it will liberalise the automotive sector by 2016, the Bernama report added. “We have a plan to develop Perodua and make it self-reliant before that,” he stated.
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Good UMW…a nice choice!
Well done UMW. Do not acquire Proton.
Self reliant Perodua? You mean they want to develop their own cars?
Is 2016 a firm date or highly flexible?
poor Proton, UMW rather stick with their rebadged Perodua than your own-develop-vehicle.
IIRC, UMW’s major shareholder is Permodalan Nasional Berhad (PNB).
Meh, what’s with them wanting to have Proton? It’s way off their core business to be bothered about automotive industry, unless it’s a Toyota (and Perodua) because it’s very profitable with minimal investment.
Unless… they’ve been ‘instructed’ to buy Proton?
Lelong also don’t want, Proton is so unpopular hope it will be scrapped soon.
Latest news, Tanchong motor also no plan to buy Proton stake. Nobody dare to associate with Proton loser.
TC & UMW don’t love u and never plan to hv u, because u r anak sial bernama Proton.
i thought Nissan-Renault have small stake in Proton…and they dont want to sell it…mana satu betul ni?….
only Proton fanboys claim that because Proton invest in Lotus-Renault F1, buy engine for their Satria S2000 and Savvy.
If UMW took over P1, P1 car’s will become overprice.
If Tan Chong took over P1, you’ll see them reviving the old Saga and sell on the road (just like the Sentra)
I am not Potong’s supporter but neither of these 2 chinaman as well.
GM is the better choice, imho. At least they have history in “developing” cars.
Beware of GM.
They have history in “killing” cars, too. eg SAAB.
Good the faster they kill off potong the better for us tax payers.
VW would be the best choice I think. They have a history of developing cars and car manufacturers (look at what happened with Skoda and Seat, totally transformed while still keeping their own identity (a bit)).
I doubt that VW will spend its money on Proton.
Its better if Proton will be sold to Chinese car companies..
Khazanah offer jual pada stakeholder dlm negara sebab tak nak org luar kontrol Proton. 42.7% tu korang ingat sikit? Kena ambil kira cashflow kompeni juga, cukup ke tidak nak beli. Dan if dia open kepada stakeholder luar negara, berebut2 orang nak beli. Time zaman kegelapan Proton dulu pun, VW beria2 nak beli dan kontrol Proton
Sama ada anda basher tegar proton, pernah kecewa sebab dpt kereta tak berkualiti era sebelum DSZ, salesman Toyota or whatsoever, in term of RM, 42.7% is big amount. In here we are not talking about brand or quality of the car. WE TALK ABOUT MONEY. Who in Malaysia have enough cashflow to buy lump sump 42.7%? Abah kawan ko?
nevermind.. offer la kt owg luar.. stakeholder dlm negara nie x nk pun proton yg loser nih.. mengabihkn beras je.. employee sume mkn gaji buta, employer plak buat2 buta.. dr dulu smpi skrg x nk berubah.. kutuk org lain, diri sendiri lg teruk..
Employee makan gaji buta? Masya Allah… Sampai begitu sekali ko fitnah diorang. Kesian diorang kerja penat2. Ko ingat besar gaji kerja kilang ni? Terpaksa buat ot utk hidup. Semoga Allah membalas tuduhan mulut kau
Funding is not the issue, whether the buyer is local or outsider it is financied by bank borrowing. That’s the way how corporate merger and acquisition takes place. The real problem is on one hand the Gov’t want to relieve themselves from carrying the Proton burden but at the same time not wiling to let go of control on the company. Otherwise, why not just float the 42.7% in the market? And who in the right mind would want to acquire a 42.7% costing close to maybe a billion ringgit and not have equivalent % of control?
“We have a plan to develop Perodua and make it self-reliant before that”
eleh..balik2 nanti amik kete Dihatsu jugak..
Do you think, a profitable company wants to buy a non-profitable company? Haha. Good choice UMW!
Personally, this is a show of ‘muscle’. UMWW guys just flexing their muscles, and say, “Nah, we can buy you anytime, but no fun if we buy you now”.
But, seriously, don’t waste your money buying-out cronies and a batalion of lazy workers.
Well said Tan Sri ….
You know very well your P2 partnership with Toyota has finally paid off, so much so that P2 is now doing much better than the arrogant P1 and their crony infested business plans, which obviously is making them more backward by the day.
So proud of u !
Also, all these speculations are possibly done by Proton themselves to “fry” their share prices higher…. u see where their integrity is at ?
Shame on you Proton!
He ain’t heavy, he’s my brother. Sadly, no one wants to carry him (Proton) other than the taxpayers.