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According to a recent news report, Tun Dr Mahathir is believed to have tendered his resignation as Proton’s adviser. The letter has supposedly been sent, but the move has not been confirmed, with Dr M’s press secretary Sufi Yusoff telling The Edge that he had no knowledge of the matter.

UPDATE: It has been learnt that Dr Mahathir has dismissed reports saying he had resigned as Proton advisor. He told reporters this in passing during a talk held at Universiti Teknologi Mara (UiTM).

The resignation, if true, follows on the departure of Proton’s deputy COO, Datuk Lukman Ibrahim, last month. Lukman was reported to have resigned from the company, this for the second time – he had earlier announced his resignation in July 2013, but rescinded that decision shortly after to continue on in the post.

The report mentioned that inside sources within Proton said that an issue that had upset Dr Mahathir was the departure of Lukman, who had been brought in by the Proton adviser.

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The latest development also follows on the national automaker reportedly seeking up to RM3 billion of funding from Petronas and MITI for the development of new models, a request that was confirmed by Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed confirmed, who added that “it is still a work in progress.”

Proton has however denied that it applied for any development fund from MITI and Petronas, and also dismissed reports that it had committed RM3.8 billion to fund its business plans until 2017.

In related news, the two-year moratorium on the sale of Proton shares and assets by DRB-Hicom will lift this month – in March 2012, DRB-Hicom bought out Khazanah Holding’s 42.74% stake in the national automaker.