Of late, there has been no shortage of conjecture about the possibility of Khazanah Nasional letting go of its 42.7% stake in Proton, with a number of potential suitors having being mentioned. UMW Holdings Bhd was among those mentioned in some reports, but it turns out that UMW has no plans to acquire Khazanah’s stake, Bernama reported today.

According to UMW’s group chairman Tan Sri Asmat Kamaludin, UMW has a lot on its hands already, and its focus was on its present commitments, mainly the partnership with Toyota and Perodua.

“I think we’ve already cleared that UMW is not making any bids. We at UMW are committed to our partner Toyota in enhancing its business here in Malaysia and making Perodua self-reliant pre- and post-NAP (National Automotive Policy),” Asmat said.

He added that as far as UMW was concerned, the Proton issue had not been discussed at board level, and a bid has not even been considered. “We’ve never made any bids. The reports say that shareholders of UMW have made the bid. I don’t know about that. Maybe you have to ask them,” he told reporters after the launch of the new Toyota Avanza.

Asmat added that UMW had plans to ensure Perodua post survive implementation of the new NAP, where the government has already indicated that it will liberalise the automotive sector by 2016, the Bernama report added. “We have a plan to develop Perodua and make it self-reliant before that,” he stated.