There has been plenty of speculation thus far, but DRB-Hicom says it hopes that the public will not be misled by various reports that it has already selected a foreign strategic partner (FSP) for Proton.
Some news reports had indicated that the company’s search for a partner for the national carmaker would be finalised by February 15, but the date was actually the deadline for proposals to be submitted to Proton.
This was revealed by second finance minister Datuk Seri Johari Abdul Ghani earlier in the week. “After the closing date, a decision will be made soon after vetting the proposals,” he had told reporters. Reports have pinpointed China’s Geely and France’s Groupe PSA as interested parties, but it is worth noting that both DRB-Hicom and Proton has actually yet to name any party directly.
The conglomerate reiterated that it was presently focused on going through the critical process of identifying the ideal partner for the national carmaker, and that it would conclude and announce its decision within the first half of this year, striving to complete the task as early as possible. It added that it will make the proper announcement once the process is completed.
It repeated – via a statement – that the search is a complex and thus, time-consuming process. Following the receipt of the bids, DRB-Hicom said it will start detailed negotiations with the bidders to ensure that the key considerations it had stated before are met by the potential FSP.
Last week, DRB-Hicom group MD Datuk Seri Syed Faisal Albar had stated that DRB-Hicom will need to evaluate three key criteria – which are the strategic, operational and cultural fit – in finding the right partner for Proton.
Following this, it will then start the process for internal approvals, including convening a shareholders’ meeting as well as obtaining the necessary regulatory approvals and clearance that will pave the way for the selected FSP to acquire shares in Proton.
The government has said it does not plan to be an active participant in the selection, given that Proton is a privately-owned company. Johari stated that the government is fine with DRB-Hicom ceding a majority stake to a foreign carmaker in a deal. “Going forward, the government should allow the private sector to do business, but won’t itself be involved in it,” he said.
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Syabas DRB! Peneraju legasi industri automotif tempatan dan terus menyumbang faedah ekonomi kepada negara.
I hope Msian gomen and Proton don’t be arrogant. Don’t demand so much. You are a sinking ship. Yet, you want to demand so much.
From what I heard, Proton demanded that Geely keep ALL 60,000 workers.
Geely cannot understand. 60,000 workers produce 72,000 cars per annum. Nearly 1 car for 1 person ratio.
Proton sportscar, handmade each by one worker.
Remaining 12000 to make in-house karipaps and teh tariks
Plotong make best cars in the world. Each car handmade by 1 person for 1 whole year.
Plotong is like AMG. Each AMG car has gone 1 assigned engineer to craft it
Insider information has stated that Geely is not happy about retaining all 60,000 workers. Hello Proton, Geely is running a business.
This is why, Geely, started 13 years later in 1998, sells about 400,000 cars per annum. They have made so much money that they can even buy Volvo just like that cash, without loan.
This is how business is done. Proton needs just 20,000 workers and not 60,000 workers.
Learn to work with a trim workforce. This is business, not charity home.
It is time P1. No more karipaps and teh tarik breaks for you. time to face the real world and compete fairly. No gov potek potek all.
From where u heard? This is very confidential info but u heard it somewhere or someone inside p1.. while others free2 kene tipu..
Potong car very good quality. All hand made, that’s why need a 1:1 ratio to build the car.
hello… proton workers only below than 15k workers except vendor.. where u get that info? i got it from my fren (staff)
Delay again? haha all the best
Eh, I thought a decision was to be made by Wednesday yesterday. Now they putar belit and say proposals only and only 1H decision will be made.
Looks like got problems. I think Proton again arrogant like when VW offered a lifeline. Can I advice Proton one thing, you are beggar and you cannot choose. If foreigner want 51%, you got no choice but to give in.
Beggar cannot be choosy.
I believe WV asked for 51% share.. not equity while this new potential JV partner only offer for 51% equity in tanjung malim plant.. percentage same but different value..
“..and DRB-Hicom is now waiting for the submission of bids from the parties, after which an earnest evaluation of the bids will commence.” Paultan 7/2/17
“It reiterated that it aims to complete the selection by the first half of this year, although it is striving to conclude the deal earlier.” Paultan 7/2/17
“Although the minister declined to elaborate further, he advised those looking for a partnership to express their interest before February 15.” Paultan 12/2/17
Actually you are incorrect. DRB and DS Johari have both mentioned that the 15/2 deadline is for proposal, not announcement of FSP. However, it has been misreported by a few medias, hence the confusion. Next time, don’t just read the headlines.
I-Say-Man. DRB Syed Faisal had stated that DRB will need to evaluate 3 key criteria – which are the strategic, operational & cultural fit – in finding the right partner for Proton.
Please tell me who/which company can fit into P1/DRB “CULTURE”
No multinational car company can fit in “tidak apa” attitude from Proton.
Gov is giving DRB leeway to make own decision, as what a PRIVATE company shud have the right to.
No people want yet still drag on, try to sell expensive. In the end, don’t know they will cook up what grandma grandpa story and ask for another 1.5b
Ah Kow will not be surprised if this really happens.
Macamlah nak umumkan pemenang anugerah.
So hard to decide meh… who pay more money and more gifts can alreadi. Malaysia style. Still act good good for what
Referring to the last paragraph… “Going forward, the government should allow the private sector to do business, but won’t itself be involved in it,”
Since it is a privately owned co. why not DISSOLVE the National Automotive Policy? Since you are not “involved”
Becoz the policy covers more than just P1?
Is the government involved in other car companies besides P1?
i thought april. now june? hahaha. looks like the deal will not go through!
U mean u hope la.. just say it.. why malu2..
Many YB make money with proton so they feel very sad to let go because they cannot make income with their crony company.
Proton is a humongous problem that need fixing and fixed fast. Please stop dragging your feet.
China businessman is all about profit and money minded. You DRB with lame Proton business model mau apa lagi?
If it win-lose partnership better dun do
To me there is a noticeable “dent” in the national car project with this sale/alliance
Hello Proton, your company is bleeding and losing millions per day! Still want to wait and waste time? I remember Nissan-Renault made very quick decisions despite both companies have different FITS. I don’t think Proton is serious to turn its company around, or they would have work together with a better car maker with a pedigree such as Renault-Nissan Alliance, Honda Motor, Volkswagen-Group. Seriously the world doesn’t give shit about Proton or Lotus. In reality they only sell their cars in their own country, and got beaten by Honda and Daihatsu. They just suka syok sendiri.
Well… I believe Malaysia.. public is only interested to know… when DRB going to money to return soft loan from our RAKYAT Money!!!
As for the 3 keys criteria to evaluate(strategic, operational and cultural fit), it is a fair business statement. However, this criteria should be aligned with market/ customer (both local and neighbouring country), not in the name of “NAP”, P1 work culture and protecting local supplier!!!!!
And everybody forgets that there is PSA in the running, and probably has a far better chance at getting the gig compared to China…
That will be absolutely stupid of proton, though knowing them, they probably are.
Geely > all
Volvo > all
From a business point of view, PSA would be better off buying Opel than P1. Not only is Opel volume of sales bigger in EU but the existing business infrastructure & culture is more conducive for a successful integration. Opel workers doesn’t have karipap tea breaks, tidak apa & makan gaji buta attitude.
If you tie up with a bad partner, you are destined to be doomed. No big car brands want Proton now after your Mr Sleep’s big blundder with Volks. If you get Glee on board, no Aseans want to buy Chinese brands. It is just like killing yourself. Aseans have proud.
My advice to Geeley. In the long term, it would be best to start from zero by building your plant in Thailand. Buying P1 may give a fast leg into ASEAN market but the headaches you will face isn’t worth it. Going Thailand will delay you maybe 2 years but in the long run, you will reap bigger reward with less hassle.