Second international trade and industry minister Datuk Seri Ong Ka Chuan has quashed rumours that Proton Holdings will sell 51% of its shares to a foreign partner, stating that a final decision has not been made.
In a report by Bernama, he said: “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.”
He added that a foreign strategic partner would help boost the national carmaker’s capabilities in order to remain competitive.. “Proton is free to choose a foreign strategic partner (FSP) which can offer the highest potential, either from the United States, Japan, China or Europe,” he noted.
Reports have placed China’s Geely and France’s Groupe PSA as leading parties to become Proton’s partner. DRB-Hicom, custodians of Proton, is now waiting for the submission of bids from the parties, after which an earnest evaluation of the bids will commence. Previously, DRB-Hicom also echoed Ong’s sentiment by stating it will continue to hold a significant stake in Proton even after the FSP’s entry.
Proton will make a formal announcement on its partnership decision by the end of 1H2017, which will also include the merger of the company’s plants in Tanjung Malim, Perak, and Shah Alam, Selangor.
“The government will not make the announcement on Proton’s behalf, and I ask everyone to be patient. We hope that after this Proton will be able to develop a motor vehicle hub which can boost Malaysia’s capability to make high-quality national cars which can penetrate the international market, especially in Asean countries,” Ong said.
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Better don’t sell at all. You can have the 100%. It will make you happier, yes?
The problem with 100% control is Gomen need to keep pumping in money once every few years to top up the leakage.
Just let it fail and disappear like PerwajaSteel . Problem solved 100%.
This company keep sucking the malaysian money if still under the monkey control. haha
Is better to lay off the lazy workers/cronies rather than keep asking for milk from the rakyat.
Would you buy house with half baked property developer that would build your house half way and then go missing? That’s how i view Proton. They’re not serious in doing business. Hello Proton, your cars aren’t selling and you are bleeding RM4 million per day! Still want to delay? How come GM can let go Opel, and Peugeot Citroen purchase Opel Vauxhall, the acquisition process is very efficient and fast? Seriously, from 14 bidders to Proton… Only left Geely and Peugeot SA. Jual mahal la sommore, I think in the end they have no one to partner with them. Padan muka
If win-lose partnership better reject
Yeah Malaysia still own Proton. Seriously after end of tendering period, only this statement keluar. The rumours has been around the whole time during the tendering process. Is it because they don’t want to buy up to 51% or we don’t manage to sell up to 51%?
Proton must have admitted that the had failed in the 30 years of existence. This includes reluctant to compete in an open market (Malaysia), failed miserably in international markets, denying mistakes made in the past (example the poor campro engine with weak low end torque and lust for petrol station, or making a car with 1 cup holder and no glovebox that is gen2) and making cars out of syok sendiri (calling turbo as CFE, claiming VVT is a totally new system when it is actually still a CPS, claiming proton cars have exceptional handling when many Japanese cars have improved as well).
Proton need to recognise there are too many weakness it has internally including influenced by top management to slash car designs etc.
And car designers proton have are thinking only they can design the best cars in malaysia, no other Malaysian can do better.
The Iriz has the front look similar to Dacia Sandero and the rear similar looking to Ford Ka.
And preve and saga BLM not even designed entirely in house. I can go days to describe more about proton and the reason I am doing this is because I love proton as a national entity.
SO much cool story brah
Beggars can’t be choosers, but this beggar is so thick skinned to not only think it has the right to choose its donor, but also jual mahal.
Surrender to motherland already, you are only prolonging the inevitable.
Geely > all
Volvo > all
Maybe the suitors are eyeing the “jewel” of the company.
So what if they do? They are not getting it free. They will pay for it.
Flogging a dead horse.
Seriously proton should consider close shop and sell 100% of its share to other maker who is really interested into car business.
Looks like Second Finance Minister & this Second International trade & Industry minister are not in the same page or are they trying 2 confuse/delay foreign strategic partner(FSP) !
Can the “First” Minister ie PM come out 2 make a statement 2 clarify once & 4 all over the confusion !? The more we delay, the more millions will be lost due 2 no action or 4 the lack of it.
WTF, SEKEJAP WANT SELL MAJOR STAKEHOLDER? SEKEJAP DUN WAN SELL? U THINK SMALL KID PLAYING MONOPOLY GAMES! WASTE TIME ONLY….
THE MAIN PROBLEM IS, PROTON IS A COMPANY WHICH PRODUCES DEBT AND MALAYSIAN PAY FOR IT! WTF…
V ALL KNOW U WAN JAGA POLITIK, BUT IF GEELY GET IT, FULL LOADED TANJUNG MALIM PLANT, MORE WORK OPPURNITIES WILL GET! AND LESS PEOPLE PLAY BASIKAL AT FAST LANE . THEN ALL SUPPORT U AGAIN LO…STUPID!
Why you are worry so much?
In the end of the day, Proton is a vanity project for Malaysia. It’s not a very good vanity project since it highlights the tidak-appah lifestyle but a vanity project none the less. Hopefully, Najib can force a 100% sale and my income tax can go to schools, roads and hospitals instead of cronies.
So, did we see who’s interest is been taking care here?
Buying a losing money company ( has been losing money more than 5 years till need government pump in $$$) is like donate out your money!!! You will never expect any return. Those monkey there only wanted you to pump in $$$ and they distribute among themselves.
Let sit down and watch this excited Malaysian made NAP local series! Dah Season berapa in?
this looks like the VW deal with P1 all over again. its not going to happen.
One minister is contradicting the other minister. See article “Gov’t has no qualms over Proton majority stake sale”.
Is this mixed signal good for the bidders?
Not surprising if this search for FSP is cancelled. Look at Suzuki. They’ve been played
Cakap banyak !!
Where is the 1.5 bil loan now ?
Have you started paying back ?
DRB also getting besar kepala , if you want 51% control then why must beg govt for 1.5 bil.
P1was taken private and is no more a GLC.
Remember what happened to VW JV ?
If you still don’t change this mind set then P1 will need tongkat for the next 30 years.
The only to pay back is for a foreign partner to assume the debt when they buy over Proton. Otherwise the debt will eventually be converted to equity with the Gomen becoming a shareholder in the company again, after extricating itself some years ago.
new volvo asia factory. tanjong malim.
After all had happened, Proton is carrying a curse…..and karma will be coming….
Dont do business or sell anything when those in charge don’t really know what they doing all the while…..ahhhh…too many in the news for wrong reasons….. but who cares!!! Government will pump in money…. business is for real businessman…not any tom Dickinson or Harry….yes..no???
Proton cars have a lot of problems. He Dr.M thinks very highly about his founder but to my view the engine of the car is so call rojak engine. Ford and Daimler well known of inventor in world’s history. Do u all think proton can invent its own engine. Proton is very capable in copycat. But I admired is the car body shape WAU Malaysia. That is only Malaysia Boleh.Ha.Ha….Ha..