This just in – General Motors plans to make a bid for a small stake in Proton Holdings Berhad as well as another stake in Proton’s manufacturing arm, reports NST’s Business Times quoting an unnamed industry source. Apparently this is a renewed proposal, one that was made by the car manufacturer giant to Proton way back in 1998, and it is a standalone bid, which means it is not a joint bid with a Malaysian company.
General Motors has a significant presence in Thailand, and was one of the companies that helped make it the Detroit of the East. Currently, GM’s partner in Malaysia is DRB-HICOM, which distributes Chevrolet-badged GM Daewoo cars in Malaysia through it’s unit Hicomobil. Previously there was news of GM conducting a due diligence audit on Hicomobil because it has plans to purchase a majority stake in it to be directly involved in the marque’s branding and distribution here.
Meanwhile, it looks like local conglomerates Sime Darby and DRB-HICOM are really really eager to get their foot in the Proton business one way or another, if not directly, then indirectly! The same article in Business Times reported that both Sime Darby and DRB-HICOM have met up with Volkswagen, presenting ways that they could work together if Volkswagen’s stake bid in Proton is approved.
In other Proton news, Tun Dr. Mahathir has been commenting on Proton again. This time he says Proton’s management needs to be changed to prevent the company from sliding into oblivion. For additional reading on what has happened so far, read the related posts below.
Related Posts:
Government to announce Proton partner in March
DRB-HICOM explains 32.9% stake proposal rationale
Volkswagen conducting due diligence audit on Proton?
JMEPA: The reason Volkswagen wants Proton?
GM and DRB-HICOM to sign stake transfer MoU
DRB-HICOM says no official proposal from GM
GM potentially acquiring a 51% equity stake by October
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Does this maens that GM will acquire proton via hicom? If hicom takes over, it will be disastrous for proton just like the old days
Looks obvious that GM via DRB-HICOM will slowly but surely take over Proton
Gm itself is suffering HUGE losses from last year , thy r the one actually losing market share to the japanses marks in their homeland….so hard to make a case for it , although thy do have alot of resources and own many brands so platform and tech sharing is not a problem , bt i tink this time the bid is a last min job , bt u know wat , it could be one of the points that the US emphisized to fascilitate the curently ongoing msia-US FTa talks…u neva know….
GM is nt bad actually……..i mean they r quite competitive in asia, though bad in their homeland. but anyway, proton needs to be owned by other better carmakers, G gotta do it fast…….duno why they wanna drag the issue for soo long…..and proton is alrdy half sink………or mayb more……….
GM is in worse shit than Proton.
Sadly, I don't know what happened but after 24 years, Proton is fundamentally more verenable and weaker than an new upstart from China.
well, after going to some gov camp, they say that proton still "infant" industry, not sure how long that "infant" tag is going to stay on it. Until takeover I guess.
" … Proton’s management needs to be changed to prevent the company from sliding into oblivion … "
Am I the only one who read this and thought oh then I hope Proton's management doesn't change?
Haha.. I don't care which car manufacturers or local car assembly company bid and want the share of Proton stake. But i care the Proton must survive, i want our automobile icon must do their job without the G disturbance.
Go Proton, don't potong car sudah!
Proton, Daring To Change. It's not about car, it's about saving Malaysia automobile industry.
Don't see how GM would benefit Proton. DRB having nothing to offer except for the sliding down situation, have now desperately resort to its partner in GM. GM who have made Thailand the Detriot of the East, would IMHO not do anything more than be a name sake or bystander in Proton.
Why should it jeopardise Thai's operation with another plant in Msia?
Would not think VW would take in any other car manufacturer in its fold. Its just too superficial. VW have all that anyone could offer in terms of automobile technology, fund, and the brains.
Why should it offer anyone else a stake in this?
DRB is desperate. Wanted in, but have nothing to offer. Resorting to this sort of tactics like roping in GM, and "threatening" the G on the potential closure of the whole group is just lame, and immature.
They should have thought of this much earlier, when they were on their cushy seats enjoying life. Flying to one golf course to another.
IMHO, GM have nothing to offer.
I personally prefer VW more than GM. Not really like the designs from GM (Daewoo), VW range of products looks more appealling and thier engines more reliable and sophisticated.
to help P1 to die faster, go for GM… P1, go for it! Go!
to stay alive, to learn, to help each together, welcome VW
Transformer, I agree with you…… Yeah P1, go for GM… mati sama -sama …:D
GM kah, VW kah, so long all the dirty politicians want their 30%, "tauke lembu pun jual kandang."
i should says: " tauke buaya pun mau jual paya buaya "
ha ha ha…. Cheers!