Nothing like conjecture to get the share prices moving. Last week, it was reported that shares of Geely Automobile soared to record levels following the report that the Chinese automaker was leading the race to become Proton’s foreign partner.
Now, the same is happening with DRB-Hicom. According to The Star, the Malaysian corporation’s shares climbed to their highest in more than two months, and were among the top shares traded yesterday. It finished the day at RM1.27, trading as high as RM1.30 just before closing, StarBiz reported.
According to an analyst, investors are seeking to accumulate positions in DRB-Hicom ahead of Proton’s announcement of its partner, which the automaker says it aims to name by April.
Geely – which owns Volvo, the London Taxi Company and sub-brand Lynk & Co – is competing for a stake in Proton against Europe’s second-largest carmaker, Groupe PSA. Both companies are reportedly undertaking due diligence work actively at Proton’s headquarters, but sources familiar with the matter said that Geely seems to be showing more interest.
Both are eyeing a 51% majority stake in Proton’s manufacturing plant in Tanjung Malim. The government has given the green light for a foreign company to own a majority stake in the assembly plant.
If Geely is successful in its bid, securing the deal will add 150,000 units of annual capacity to its output and give the Chinese carmaker a fast-track access to Asean’s 10-member market and its 623 million-strong population.
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Confident that Chinaman can grab this deal, “Potong” will have a new lifeline. …. Can imagine all bad culture will be eliminate once take over by them.
Goodbye Suzuki.
Pipu are fully confident in the government’s turnaround plan to help Proton revitalise its flagging fortunes and lead our nation’s economic recovery as Petronas struggled.
Petronas did struggled, but they joined OPEC to limit oil production last month.. oil price shoot up.. LNG business also in good prospect.. MISC last year also in profit..
I hope the DRB Guys are not too overjoyed because when China really comes and sees how Proton is being run, they are going to ask some serious questions. Questions such as
1) Company losing RM4 mil per day also but why got overbloated 12,000 staff?
2) Company losing RM4 mil per day also but why directors and management got very high pay packets and so many privileges like driver and limos?
3) Company losing RM4 mil per day also, workers in plant suka hati sometimes come sometimes don’t come. Attendance is a super big problem for Proton
4) Company losing RM4 mil per day also but crony vendors are still the same supplying Proton with super low quality parts with super high prices for the past 30 yrs.
China will question all this. How is DRB going to answer?
In China, even famous billionaire caught for corruption also now getting executed. They don’t tolerate nonsense and they mean business.
Tongsan inkambing ! Kampung Rakyat still support P1 as Chinamen company?!?!
Who cares???!!!! Rakyat have to take care their own wallet, now that’s important!
PHEW! at last a savior is here.
DRB Hicom shares will collapse when the Chinese come in. The first thing they will do is to slash the overbloated 12,000 workforce Proton has to 6000. This is because China believes in lean and trim workforce.
Unlike Malaysia where we believe in 10 man to 1 person’s work policy. In China, 1 person do 10 man work policy.
Don’t mess with China. Bursa investors will be scared of DRB once they see how disciplined China is.
This is a scenrario 6 months down the road….
China Geely CEO: “What are you Proton workers doing?””
Proton workers: Kami minum teh Encik. Jemput, makan bersama. Ada karipap dan kuih lapis tuan”
China Geely CEO: “What nonsense is this? This is not how we work in China!”
Proton Workers: “Rilak lah tuan, lepas minum teh ni, nak tido sekejap, nanti kami bailk buat QC”
China Geely CEO: “All of you are terminated. If you do not leave by noon, you will face firing squad”
Ha ha ha, I really like the way U tell the story bro. Don’t la scare these P1 workers. They ‘only’ minum teh/kopi & tido sekejap sja ma. Gip chance la. If want 2 face firing squad, U must fire the Head first ma. Yes or not ?!
Good luck Proton, Malaysians rather drive old Myvis and Vios rather than buying your rebadged China junks.
Proton + Geely = Geeton
G-Prot.
Thank grorious motherrand bringings wealthy to our blessed land.
Motherrand wirr prosper, motherrand wirr serve the peoperr
Volvo > all
Geely > all
Hope they market Lynk & Co SUV here under Proton badge…
After deal, still using CamPro VVT & CFE, CVT Punch gearbox. Still no improvement! Buy Toyota & Perodua better!
Why go so far to get China Geely as partner? As a so called Malaysian company, why not open to those back home first. Make it a truly Malaysian company first la. I am sure there are takers back home. OOOppps is not inline with nep, but 51% to China Chinese is ok la!
Do not worry proton, for sure the plant will be full of Geely cars for assembly. Just go google and you will know, their booking of their latest suv is > 50k belum fulfil to deliver, and also their crossover, sedan …they need more plant to assembly and ship back. Secondly, Geely can rebadge to proton or use back geely for their line up. All looks very handsome and feature-packed car/suv, interior design and material used, beat hrv and city hands down, but at a affordable price tag :)