Proton, which is in its final phase of deliberation over its choice of a foreign strategic partner (FSP), might follow Perodua’s path by allowing its FSP to have a 51% equity stake in the company.
According to a Bernama report, this was said by second international trade and industry minister Datuk Seri Ong Ka Chuan in response to a question in Parliament about Proton’s selection of a FSP and whether selling off a 51% stake would affect the future of the national carmaker.
“Proton could follow in the direction of Perusahaan Otomobil Kedua (Perodua), but (it) may not be necessarily so,” he said, adding that Perodua has Daihatsu as a strategic partner, with the latter having an equity stake of 51% in the business. “Daihatsu needed to acquire 51% equity as Perodua required high technology investments,” he said.
He urged all to be patient, because the evaluation process is still going on before the decision on a FSP is announced within the first half of this year. Ong said at this stage, matters relating to equity were still being discussed.
Last month, Ong quashed rumours that Proton was set to sell its majority state to a foreign partner, stating that a final decision has not been made. “The government is not relinquishing the country’s proprietary rights. We are looking at the opportunities to help Proton grow more efficiently, so that it will be on par with other big brands in the global car industry.”
Former Proton chairman Tun Dr Mahathir Mohamad is against the move to shift the carmaker towards foreign ownership. Last month, he said that there would be major implications for the company, its suppliers and vendors if this was to happen.
China’s Zhejiang Geely and France’s Groupe PSA are the potential candidates to become Proton’s FSP. The French company has submitted a bid for a partnership with Proton, announcing last month it was in talks with the Malaysian carmaker for a deal. As for Geely’s bid, a report early this month said that the Chinese automaker may pull out of negotiations.
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Once got 51%, please immediately sack the ceo and the chief designer, and relook into the supplier.
Don’t worry, any partner that has 51% will do that. 60,000 staff making 72,000 cars. That is like 1 staff to 1 car ratio per year.
No other car company in the world is like this. So, they will have to sack the deadwood
PSA doesn’t close down some Proton department or Proton will get PSA closed down financially. Simple math
Sack the designer!!!
Proton: 51%, no prob. Giv you 52% also no issue. The only condition is you cannot do this, this & this and also that, that & that … and this & that subj to chg anytime. Oh, 1 more thing, you can’t touch on ‘sensitive’ issues … you know. That have to refer to gov. In return, I let you use my ‘advanced’ facilities including the toilets.
PSA: …
Not a bad thing though..
Sembang lebat.
Since Geely tulan edi, future proton all are rebadge peug/citroen/open/vauxhall.
Be warned : it’ll be a nasty ownership experience.
mana tau Proton S90 terbaru ke.. kikihkikih
It’s official edi. Geely told proton to go fucuk themselves.
Proton made the biggest mistake ever.
Yes, this is a good idea. Learn to be humble and have humility. You are near bankruptcy and yet, you want to demand so much and ask your white horse partner to kowtow to your terms.
Look at Volvo, they were nearly bust, but Geely pumped in USD$12 bil into Volvo. Now Volvo is doing so well. Demand for their cars are so high.
Learn to be humble and have humility
One thing I still cannot understand, Gomen always say Proton is in private hands. And yet, Gomen is here making decisions and announcements for Proton.
So is Proton really private under DRB or is Proton still under the Cabinet to decide for them? Looks like Proton cannot make decisions unless cabinet approves them.
What private is this?
Proton is still heavily depending on government grants and loans. The last loan 1.5 billion was given out with condition, i.e. a strategic partner. Also, with that huge amount of debt to the government, government technically owns Proton, not DRB Hicom.
They loan money from govt.. so there will be term n condition.
The 2 billion softloan from gomen is the cause why gomen can interfere.
Private parts-talking, whether the useless gomen or useless proton mgmt, both sama sama useless
The only ones useless is those that bash w/o constructive criticism.
Those that can only talk without action are the useless ones. You can defend Proton all you want behind your monitor but it will not help
Do u even read what was said b4 bashing? The minister said P1 have free reins to choose its destiny, even if in the deciding hands of its FMS.
Its something that new Oppo dear leader din gip when he was meddling and stifling P1, unlike now.
Ong Ka Chuan is just talking. There is nothing concrete yet. Come end of June, he will have to eat Humble pie again just like other ministers B4 him & will give other excuses for not forming a FSP.
If there is a bet that P1 is forming a FSP with PSA or Geely, that guy would have been bankrupt by now bcos the deals have been postponed or aborted since VW era. Anyone dare to take a bet on P1 forming a strategic partnership with the remaining 2 left ?!
Damn… anyone remembers what is the main reason VW pull the plug on Proton over a decade back? VW wants 51% and Proton would not bulge…
Imagine the Saga, Persona, and Perdana today if Proton made that decision back then.
Imagine how much debt was saved.
Damn….
Imagine u pipu wud have came back and bash P1 for dieselgate and DSGgate….
Proton donwan to die, but Proton oso cannot live…..
Sell 99% also ok.Don’t listen to that old senile.He got no power or any right to say anything.Bcoz of him auto industries in Malaysia turned dark ages and become a laughing stock.
“Proton could follow in the direction of Perusahaan Otomobil Kedua (Perodua), but (it) may not be necessarily so,”
Could but may not….This second MITI minister is saying nothing concrete basically. End of report
Perusahaan Otomobil Kedua – Now only I know. Stupid me…
– I Have Just Added A Comment –
A sad ending to a once proud empire. Konon not going to sell majority stake… big title in news saying Proton belongs to Malaysia and all that few weeks ago… now.. 51% stake boleh dirunding… the indecision shows desperation. Good luck!
Back to square one
That was the reason proton still can not find a partner till today.
What they know is to protect the cronies and bloated staff and want control.
Which company want to buy the 51% stake and let you control?
You think your partner is so stupid to have the arrangement?
So if Geely pull out only leave PSA. They better just announce the winner lah coz PSA win by default. Or wanna cancel this too?
Akhirnya Proton belajar dari Perodua! HAha