Proton will be able to announce its foreign strategic partner (FSP) by May, according to second international trade and industry minister Datuk Seri Ong Ka Chuan. He made this announcement following the news that Chinese automaker Zhejiang Geely had withdrawn its bid to acquire a controlling stake in Proton, The Star reports.
Despite Geely having exited the scene, Ong said it was not the end of the road for Proton. He said that there were a few other bidders at the moment, and that the Chinese company wasn’t the only one seeking a partnership with the national carmaker. He added that the government was not going to interfere with the decision-making of which partner DRB-Hicom will go with.
“They (Proton) are currently trying to finalise the decision. As a private entity now, the Government cannot help Proton make the decision. We are only able to nudge them towards the direction in finding a strategic partner,” he told reporters.
Ong had earlier said that there could be the possibility that Proton might follow Perodua’s path by allowing its FSP to have a 51% equity stake in the company.
Yesterday, the South China Morning Post reported that Geely had pulled out of negotiations with the national automaker, the move being confirmed by Geely president An Conghui. An did not elaborate on the reasons for the decision. Earlier this month, the Chinese carmaker’s chairman Li Shufu had indicated that it was planning to pull its bid due to DRB-Hicom’s indecision regarding the partnership.
The announcement of Geely’s withdrawal from the chase means that Groupe PSA remains as the leading – and thus far, the only publicly known – contender to become Proton’s partner. The French company – which is on a global expansion exercise – confirmed it submitted a bid for a partnership with Proton, announcing last month it was in talks with the Malaysian carmaker for a deal.
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This is never ever ending story…
No need to announce already.Only 1 bidder left.Now PSA got the upper hand to buy majority stake at half price then sell to Geely.Meaning Geely no need to face flip flops on DRB.. In the end both foreign brand make profit,DRB just make long faces.Greedy DRB can’t win against Professional businessman
My advice to Proton is be humble. Don’t be arrogant. You are a sinking ship and yet you want to impose all sorts of terms to your foreign partner.
Just like VW, you just threw a good partner out your door. Geely is super cash rich. Geely is clever. They only started in 1998 and yet, they had so much of money, they could buy Volvo in cash.
Besides buying Volvo in cash, they injected US$12 billion cash into Volvo to make it healthy again. That is RM54 BILLION.
We just lost so much of money from a cash rich company and knowledge how to run a car business. Geely obviously knows how to run a car business for from 1998 to 2015, they made tens of billions USD in cash from car sales. 17 year old and yet, they can make so much of money.
We could have learnt so much from Geely.
There will be no announcement in May 2017, MARK MY WORDS!
Remember Proton Hybrid? Proton EV? Proton is good on talk only, nothing get done end of the day!
Proton is a failed car for failed people
Geely is very professional when running their auto bussiness despite the young age, made tons of money and managed to snapped up Volvo. But those success are largely aided by their super large domestic market. Geely is almost unheard of in the outside world. And the outside world can be picky with auto products if you know what I mean.And how much of that true Volvo technology will trickle down to Proton is questionable. At least with PSA, things are very clear..
With PSA, Proton just re-badge, its very clear indeed.
geely walked out… so no more proly or geeton…
what left is peugeot + proton = progeot (pro-goat?) or peuton (puke-ton?)…
anyway DrB always admired conti… that is y proton has signal-wiper lever terbalik on RHD car… n not surprise geely-volvo walked out of the bid…
there will be no announcement by May.
Never ending postponement. The common practice…
Geely say cannot give free 30% away and free chairmanship away free
Just like 30% reduction in car prices.
MANA?????!!
Yes, there would be one. Either it’s about who is the chosen partner OR that no one is chosen because there are no suitable candidates available.
From 1985, Proton has taken officially about RM20 billion. Unofficially, maybe 3x that amount. Waste of rakyat’s money.
We can thank Proton for increasing car prices the past 30 years. Toyota Corolla was only RM20k and Nissan Sunny was only RM20k in 1988.
Today, Corolla is RM139k.
But in Japan Toyota Corolla price only jump 40% from 1988 to 2016.
Proton ask Geely must obey Tongkat Policy. Give 30% of company FREE. Geely laughed so much.
Proton always like to make other cars expensive to feed their own Nasi Lemak cronies in the expense of the rakyat. There is no shame in Proton. No partner will want to be part of their crony
Another new partner? When is Proton going to be loyal?
Proton can have even Bill Gates as their partner but until they trim their over-bloated workforce, Proton will always be in dire problems.
You are running a business. If company is losing about RM4 million per day, you cannot afford to keep the overbloated staff.
Proton needs to open their eyes and see reality. All 4 launches last year, Perdana, Ertiga, Saga and Persona, only latter 2 launches can bring in little money. This money is by far not enough to pay all Proton workers.
Time for Proton to accept reality. New partner PSA also not that stupid. They also will say staff need to be trimmed.
Proton actually got scared when Geely told them that. They think the French will be different. Let me remind Proton, Freach too are clever and prudent. Infact, the whole business community knows, if you are losing money, you need to trim your costs and workforce.
It is only Malaysia that believes that rain or shine, we need to keep redundant deadwood. The same with MAS and the same with many redundant companies. Time for a change.
Close down Proton. 30 million people subsidizing 12,000 workers. No logic.
Just like all of us, they can look for jobs elsewhere. Why protect them so much? All of us have kena VSS and yet we go looking for jobs.
Even overlord Jepunis toyota asked gomen for bail out. Why they protect Toyota so much?
Toyota can sell. Can Proton sell after bail out? After sucking the rakyat’s money for 30 years, still want to suck our RM1.5B like sucking milk and yet, nobody wants to buy Proton. No consumer nor car maker is interested. Use your brain to see the difference in protection
After bailing out by Japan Gomen, Toyota can become World #1 car seller, after bailing out by our Gomen Proton still want more…….
Bwahahah berdebar debar… serupa final badminton Olimpik
We Malaysians want to know why Geely rejected Proton. Geely gave Volvo USD$12 billion (RM55 billion) to bring Volvo back to life.
Obviously Geely would have given a few billion USD cash to Proton to revive the company.
Why did Proton let this opportunity go? They could have used the money to pay back their RM1.5 billion hutang.
Geely is not bodoh,kawan.
Run away from a sinking ship called Titanic,no matter how glamorous the ship is.
Peugeot better pull out like Geely also.
Be smart like our local graduates here.
Yess I agree. P1 needs a lesson on how to be humble!
They need to send Proton chief executive to Business school study Business 1,2,3..
Proton management team line up by uncountable datuk sekalian… not from MNC technology industry born. Not a surprise until today still deciding either to sell tg.malim manufacturing facilities or Proton as a whole. Most ridiculous things happen is the business negotiation already started with undecided & unclear agenda, direction & objective –> curious what have been discussed since last year…??? Bolehland duty tax policy & business strategy is very unique & strange, we are seeing Thailand is roadmaping Thailand as EV regional hub very soon. Msia under guidance maa.mai already damage the auto industry with AP system where developed 1 or 2 company that benefit 1 or 2 person to buy & sell AP (AP trading company), now again create new type business –> EV CAR RENT SERVICE (brand TESLA, etc… to choose)
YAB Nazri said” Proton is a white elephant”.Faham?
Our own menteri cakap.Is he insane? No,he is sane.
Only insane people will buy Protong.
Close down Proton. End of story
Proton is the champion in teasing. lol
Car release also tease for years.
Even when Proton is ‘naked’, nobody wants to touch it as it has too many partners in the past. Sked STD
In the end Proton doesn’t have a partner and have to close down. I am hoping that will be the case. May I suggest Proton to convert its facilities to make underwear?
They will produce the most hideous designs of underwear if that happens.
Last time French offered technology for Tiara and Savvy. Both cars also failed big time in Malaysia. Before that, Proton so proud to say Savvy use Renault tech and all that.
So, PSA deal go through, will it really save Proton? I think not. The current management need to be changed complete and staff cut to one third.
Proton must continue to look for reliable partner
NO need to announce la. U better act fast now since Geely have pull out. If U take too long, PSA will also pull out & then cry also no tears.
And the new Miss Universe is ….. (drum roll) Oh wait
PSA can now drive a hard bargain.
The winner is ……. TATA. Anticlimax and jaw dropping.
TATA pun tak mau.
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No offense, but your choice of language on an English site, your choice of tone, and the weight and connotation it carries make me unable to take you seriously.
Helo? Apa yang nak bangga sangat? Proton umur 33 tahun, masih lagi hisap susu. Hampir semua rakyat Malaysia sudah fed up, tak suka dan tak mahu Proton. Tak ada faham ka? Bangun dan balik rumah la!
its “idiotisme” not patriotism.
wonder what proton car you saw in egypt or uk? First generation saga or iswara? Still got service centre there? If I see it, I feel so malu and so sorry about that. People ask me :this brand from your country? Feel malu to answer.
When i studied in Tasmania, Australia i always take a picture whenever i see a Wira Ute, Wira, Saga or any Proton for that matter. It’s so hideous outside of Malaysia
its no shame for not having a national car…many developed countries dont have it..even the swedish sells theirs to the chinese..its all about business nothing personal
Betul bcoz of maruah or patriotik reason, but your products also kena improved la interms of design, technology and readability. If u not follow the trend u akan tinggal belakang and don’t ask rakyat to buy your obsolete products. your head designer and engineer memang kena tukar. kalau still nak kerja sampai pencen macam dlm jabatan kerajaan memang takder perubahan la. coz your designer sudah tua dan no fresh idea. cuba tengok KIA dan Hyundai..bila tak boleh compete mereka ambil designer dari Audi dan designer dari negara europe…hasilnya amat membanggakan sales mereka meningkat. perlu ingat dari mata jatuh ke hati…rupa itu penting dalam perniagaan kereta kemudian baru kriteria lain.
Announce or not, it still Proton with CamPro Engine & CVT bising Punch Powertrain gearbox! Bad RV after all..
Hope we can find puretech and thp engines in upcoming proton models.
Proton needs to be purified first. They call it engine flush.
Strategic partner with HotWheel?
Hope we can find Proton models in Hot Wheel
Delay, jangan tak delay. One deadline after another. This is just to keep all the clowns in the job.
https://paultan.org/2017/02/16/drb-hicom-reiterates-decision-on-protons-strategic-partner-will-only-be-announced-by-end-of-1h-2017/
What delay? DRB has always said that it would announce its decision by the end of 1H 2017, so it is still on track.
On track to suck more money
So you wanna dig history?
Cement deal in March?
https://paultan.org/2016/11/18/proton-has-shortlisted-three-automakers-for-strategic-partnership-agreement-to-be-signed-in-march-next-year/
Anyone see the turn around plan?
https://paultan.org/2012/12/13/drb-hicom-to-unveil-proton-turnaround-plan-by-march/
That was last year. They have since announced that they will make the decision by 1H 2017. You’re implying that they have made another delay to the plan, which is untrue. Hence, you are incorrect. And the 2012 news is old, OLD news, like 5-6 years back, that was when they were negotiating with the likes of VW and decided against it. Has no bearing to their current decision.
What last year, this year. Proton has been talking about plan and plan but nothing materialize. Dulu, kini and selamanya
REALLY OR NOT?????
Money Want. Relinquish control don’t want.
You think other people are stupid?
In the end when no one wants it, just chop it up, and sell it to Perodua.
It’s still Perusahaan Otomobile just without the Nasional(ism).
Keep on delaying forever la
Haiya .. hangpa kerja takdak deadline ka? One important element of integrity is “punctuality” .. apparently, you don’t have that. So, how would you expect customer to have trust in your brand??
In the end they will announce they will partner with a kilang sardin.
U meant Perodua brand? Now partner with kilang sardin
Aiyoooo why la proton. why? If running out of money, by all means please cut the top management benefit and pay. And most importantly sack those gaji buta staffs. I’m sure plenty of them.
A re-skinned Proton Peugeot sounds like a good prospect, provided the Proton’s Design department learned a thing or two from the French (I can even offer my own concept sketches). Current PSA’s interior quality & design is ahead of the Japanese. Their engine’s performance are quite commendable as well.
PSA primarily still uses the Prince engine… while commendable, please be reminded the Prince is as old CamPro. It’s an old technology, which BMW, the other half of the engine design partnership has ditched entirely. Don’t get me wrong, having Prince engined Proton today would be good, but this is not the best way forward.
Maybe the Gmen should had given the soft-loan AFTER P1 found its strategic partner
Holy cow. There are others? Proton is that attractive? Holy cow. Very Dramatic. Holy Cow.
Indecisive and taking business decision for too long. Had been wasting so many chances and never learn from the previous mistakes. Feeling fed-up to hear all these nonsense excuse from our govem.
With all these crap, Perodua is a more wiser choice to purchase local car. Greater improvements over the years, better management team, able to catch customer wants and make firm decision without keep on hearing “adakah jawapan kamu muktamat?”. Come on la, we have enough already…..
u know what?im starting to feel annoyed by all this partnership thing. maybe paultan should lessen this partnership news, until they already announced. new bancrupcy but still demanding that and this took forever to announced it. and then blame goverment and rakyat for lack of support. hello? cant u stand on your feet by yourself?always blaming other people. no sense of competition.
As always, Proton is wasting our ISP bandwidth with all these ‘Fake News’
How about with Ford?
Betul ke, si OKC kata – “there were a few other bidders at the moment”. Boleh Caya Ka ??
What is there to announce? With Geely having withdrawn there is only one interested party left. LOL.
Again shifting the goalpost and taking your own sweet time.
GE14 coming so don’t dare risk losing thousands of votes from P1 employees.
DS OKC, the govt has given the 1.5 bil to P1 so you better have a say in the deal.
Idris Jala was selected to head the committee but not a single whisper from him nor the committee.
If P1 is a private entity then DRB Hicom & TS Syed Mokhtar should be the ones funding P1 either via rights issue or taking a loan.
Why did the govt provide the 1.5 bil and play as banker instead?
Time to pressure the P1 management to make a quick decision and move forward. Stage 1 and we are already behind time. Imagine how much longer would it take when the FSP finally get to sit & map out the future of P1. Meanwhile P1 will continue bleeding but who cares right?
Even jepunis companies got bailed out, you dun persoal pulak
Topkek
As I used to work with PSA for ASEAN T11, T33, T73 and T93 CKD projects, I believe PSA may spearhead P1 business. But for Proton manufacturing workers from management team, engineers until production operators please get ready with PSA bizarre working principal which may lead to positive manufacturing practices. Tout va bien PROTON!
French working culture will not fit with Proton culture.
Is not Proton culture, is Malaysian culture (low standard and empty promise)
Let me predict, by the end of day no FSP is decided.
I bet you.
Always not committed, hopeless
Proton only want the soft loan but not the strategic partner’s thing, seen is goverment demand then need to do some “wayang” lar!
Since no reasons given for the pull-out, I can only speculate. Proton want to be luxury brand instead of what many view it to be an entry-level brand. This problem will always be a thorn no matter who partner is because Proton was never successful internationally or even locally.
Buy more Proton to support Country
To be very frank, most people I know, in blog,fb… condemn proton than praising. How come our own people “hate” our national car so much until only those no choice choose proton, fresh grad also dont want proton? Answer musy be proton has failed, Bigly (trump like this word).
Rakyat give chance by chance until fed up. Most of us here own at least a proton now or before, but I can confidently, majority wont go back to proton. Then of course our kid not going to buy from proton. The dissappoint has crossed generation.
No wonder proton sale keep dropping.
National car which rejected nation wide.