During a press conference following the launch of the new Proton Saga, DRB-Hicom CEO Datuk Seri Syed Faisal Albar revealed that the company has shortlisted five proposals from foreign bidders looking to own a stake in the national carmaker.
However, he stated that DRB-Hicom will continue to keep a significant stake in Proton. “I think this is something that is still up in the air. If you ask me whether or not we’re going to sell 80%, 70% (of Proton), definitely not. I think its highly premature at this juncture to look at that, because we have not crossed the line yet,” he said.
Among the conditions set for Proton to be awarded a RM1.5 billion soft loan was for the national carmaker to identify a strategic foreign partner. According to the DRB-Hicom CEO, the narrowed down proposals managed to meet three core requirements – strategic, cooperation and cultural.
“Whether or not this potential partner is from Europe, Japan or China, wherever they are, most of them who had actually express interest, they are big in size. They have a wide reach and therefore they have their own method of doing things,” he said.
When asked for a timeline, he said: “We hope by at least the middle of next year, this process can be concluded for us to identify a strategic partner.” However, Syed Faisal stated the company is looking to accelerate efforts, and will try to close a deal by the first quarter of next year.
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Actually in 2007, VW offered Proton to merge. If VW had merged with Proton, Proton will be making billions. But unfortunately, cabinet shot down the decision.
Here, we must analyse why cabinet shot down the decision. Our brilliant cabinet shot down the decision because the Germans did not agree to the 30% free shares tongkat policy ruling.
The Germans were shocked. They have never heard of this tongkat policy. But our Ministers said that in Malaysia, whatever company you set up, you must give 30% shares FREE.
Mat Salleh said cannot lah like this. Then cabinet shot down the deal. Imagine if Proton was to rebadge VW cars, Proton will be worth billions today!Can even export to all over the world.
So, I wonder how Proton is going to do deals with these potential partners when we have to abide by our Tongkat policy.
By the way DRB, rakyat gave you RM1.5 billion for you to be sure to hold on to the company. But you yourself uncertain as to whether to sell Proton or not!
Its not a merge.. its what we call big fish eat small fish la dei.. thats y the G rejected the plan..
Ya ya ya. Simply type without brain only. Maybe u forget about DSG scandal?
Scandal Proton pun apa kurangnya? Tether gate scandal, sending replacement car for testing when the first car got 1 star scandal, quietly change disc brake to drum scandal.
Who cares about DSB, its is all about $$$$$$$$$$$$!!!! No money no TALK!!! understand ?!
Ppl like u name fancy, but loaded Chinaman will to fork out top dollars to buy anything they like!
DATUK kUNTA
Dont worry.
Proton is a DIVORCE SPECIALIST.Just like in football,Mourinho branded Arsene Wenger as SPECIALIST IN FAILURE.
PROTON is run Hollywood style.So any marriage partner,beware.It will be over FASTER THAN USAIN BOLT running the 100 meters.REKOD DUNIA…PROTON MENCAPAI PENCERAIAN..
Ex operator at proton now reach datuk’s age. Then shall duduk diam diam like you at home lah
Actually that was a huge fortunate. To be frank.
Jual, u bash.
Dun jual, u pun bash.
Walauweh!
Good job proton, get a right partner
Pity him.. just merapu, like ikan kerapu. Bever trust this guys comment. His brain full of dedak .. go jadi Jaga at ur beza showroom…shuu..shuuu
Are you sure? VW are really affected by dieselgate and lost millions + many sued around the globe.
inb4. Bosan copy paste comments!!!
Beggars asking for proposal so that they can choose who can donate them. That is Proton’s logic.
Sell it off to China company!
Skoda
Just sell it to VW group, 3 years down the road, I will be driving off a brand new Proton Kumbang @ 1.4 Tsi, high spec at 79k, good deal !
Suziki also not bad, imagine 3 years layer driving a crossover SX-4 high spec at 69k.
Well, PSA…….. erm…..
Prepare even worse RV, rm50k wiring harness repair bill, tow truck drivers on your speed dial, become laughing stock.
Err, why need to wait until then when u can get VW kumbang at Rm 79k in showroom now?
I got the feeling it will be china
I think Syed Faisal is the chairman. Fuad is the CEO.
Anyway, I do hope they sort this out quickly. In the past, Mahathir was seen as the stumbling block. Maybe it will be different now.
It would be pleasing to see PROTON as a global carmaker.
They shortlist? Actually it’s other way around as the bidder needs to see what is on the table? When they check to company status, accounts and useless management they will pull out. As long as drb around it will not work. They will pinch it to Suzuki to fool the gov.
I can understand if they accept a German or Japanese but China !! Since when is China known for making/developing Cars !?
Sorry to say the stakes is not about car development, maybe yes but that’s not the main point. The actual fact is most probably about gov ties btw China and Malaysia. Since our country want to build relationship with them, i will not be surprise if some CHN company bought the stake.
Ha ha ha, thanks Ah Kow. We practice “U Elp me I Elp U”
Volvo. Enough said.
dear stupid kunta,
if proton was to be partnered (or bought) with/by VW, proton would be dead by now. and VW would be happy to pass all the faults to proton, and the stupid Malaysians will believe into that , purely, because most of them are simply stupid. VW is a lot worst than proton in this side of the world.
yeah, you’ll be crying out loud about the aged issues like power window, or dashboard rattles bla bla bla.. but you still can drive your proton, and not just sitting in VW workshop or on the tow trucks, while the owners busy demonstrating in front of the HQ.. may God have mercy on VW owners.
Sell it to Renault. Lesser of all evils. At least you have a chance of learning from Nissan.
Hope buy over by Chinese company. Fresh brand and cars in the country & hopefully introduce their line of EVs in this country at reasonable prices where man on the street can afford.
China man for sure, since all Europe and Japan wont give up sourcing control but Cina will
Well the frenchies (PSA), and the sweedes (volvo) to name a few, are now owned mostly by the chinese.