DRB-Hicom announces that all of Proton’s FSP bidders remain in the running – is Geely still in the picture?

Ah, the tangled tango continues to twirl. It seems that every automaker that submitted a bid to become Proton’s foreign strategic partner (FSP) is still very much in the picture, which means that Zhejiang Geely‘s reported exit from the scene may just be conjecture.

The automaker’s parent, DRB-Hicom, confirmed via a statement issued earlier this evening that all bidders are still in the running, and it was in the process of evaluating these bids. The corporation reiterated that the process is a complex one and that it intends to ensure that the chosen FSP will result in a win-win situation for all parties.

It added that because each party will be looking to secure the most beneficial deal that aligns with its own plans, the nature of negotiations means that it is a common occurrence that a lot of discussion and strong debate takes place, depending on what is put on the table. Undoubtedly, opinion as well.

DRB-Hicom announces that all of Proton’s FSP bidders remain in the running – is Geely still in the picture?

On Tuesday, a report broke the news that Geely had pulled out of its bid for a partnership with Proton. Geely president An Conghui had reportedly said that the automaker had pulled out of negotiations with Proton, but did not elaborate on the reasons for the decision. Earlier, Geely chairman Li Shufu had indicated that the Chinese company was planning to withdraw its bid due to DRB-Hicom’s indecision regarding the partnership.

Based on this latest announcement by DRB-Hicom, it would seem that the status quo is restored, with Geely and Groupe PSA being the leading contenders to become Proton’s FSP. The duo are the only known automakers named as being involved in discussions with the national carmaker.

The French company has confirmed it submitted a bid for a partnership with Proton, announcing last month it was in talks with the Malaysian carmaker for a deal. The French automaker has been on a business expansion exercise of late, and a partnership with Proton will offer it access to the latter’s Tanjung Malim production facilities, which it can utilise as an export base for South East Asian operations.

Geely is also looking at the plant as a base to build right-hand drive versions of its Lynk & Co 01 SUV for export to various RHD markets such as the UK and Australia. It was also reported that Geely has plans to establish Proton as an entry-level brand within its overall structure, and that it was also intent in securing Lotus as part of the tie-up.

The announcement of which automaker will become Proton’s FSP is expected to be made by May, according to the latest news on the timeline. Until the fat lady sings, however, expect more speculation and conjecture to crop up. Because, really, you can expect no less.

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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • Kelab Penyayang Kunta on Mar 24, 2017 at 7:22 pm

    OMG OMG! Ministers say one thing, Proton say another thing. Aiyoo yoo. This is really scarry. Then DRB also say another thing. OMG OMG

    Well-loved. Like or Dislike: Thumb up 61 Thumb down 1
    • Sama L00 on Mar 25, 2017 at 3:49 pm

      Sendiri Cakap Sendiri Syok. End of the day nothing get done but only drama drama drama

      Like or Dislike: Thumb up 36 Thumb down 3
      • basherlogic on Mar 25, 2017 at 10:30 pm

        Bashers are worse, one time suppork another time bash pulak

        Like or Dislike: Thumb up 7 Thumb down 27
      • Proton CEO on Mar 25, 2017 at 10:32 pm

        I can confirm that we are making the shift to underwear. Proton supporters, pls support when we roll out our new products. TQ

        Like or Dislike: Thumb up 15 Thumb down 2
        • thepolygonal on Mar 27, 2017 at 9:19 am

          Thundercats underwear already available in the market. If Proton goes into underwear market will the rest of the underwear brands kena tax and increase in price?

          Like or Dislike: Thumb up 8 Thumb down 1
      • Samnkunta talkok club on Mar 26, 2017 at 10:32 am

        second car dealers sales from from same company always come here to bash, hope their sales can increase if people dont buy new car. Pity.

        Like or Dislike: Thumb up 2 Thumb down 23
    • Low Budget on Mar 26, 2017 at 10:43 am

      PROTON MALAYSIA BOLIH

      Like or Dislike: Thumb up 0 Thumb down 4
    • Perodua no need softloan/bailout, lotus, mitsu, rally racing team, D segment, C segment, honda, citroen, renault, geely, bla bla..
      Just sale 4 models, axia, bezza, myvi & alza, selling like hot cake!

      Like or Dislike: Thumb up 10 Thumb down 1
  • Kelab Penyayang Kunta on Mar 24, 2017 at 7:25 pm

    Poor DRB. Still in denial and in shock. International news already quoted Geely big boss as saying they completely don’t want.

    Now, DRB clowns, the overpaid clowns, are saying still got deal with the bidders.

    This is denial syndrome. Still in shock. They cannot believe they have been rejected.

    Superiority complex syndrome too. They believe Proton is Gold and everybody loves to own Proton. Syiok sendiri syndrome.

    Well-loved. Like or Dislike: Thumb up 76 Thumb down 3
  • Kelab Penyayang Kunta on Mar 24, 2017 at 7:30 pm

    Bursa Malaysia and Securities Commission should investigate and penalise DRB for this info. It looks like they, DRB, want to prop up their share value.

    International news have confirmed 100% Geely is out. Now, if DRB is publishing this news, it would only mean market manipulation.

    Well-loved. Like or Dislike: Thumb up 73 Thumb down 3
  • Jonn Dol on Mar 24, 2017 at 7:45 pm

    Which also means VW, Renault-Nissan & Suzuki are still in the picture as well.

    Like or Dislike: Thumb up 22 Thumb down 1
    • Kelab Penyayang Kunta on Mar 25, 2017 at 3:07 pm

      I advice PSA, better run away while you can. This is how our moneys do business. Flip Flop style. Geely just realised this and decided to run as far as they can.

      PSA, don’t fall for the tricks of DRB. They are insincere and you will lose out in the end. Your Peugeot name will stink so much because Proton will busuk your name.

      This is why even Mitsubishi failed in Malaysia despite being a high quality Japanese car. After a while, because of stinking service by Proton and dishonest service by Proton, everybody associated Mitsubishi as Proton Quality.

      So, even the Mitusbihi brand had to die off cause Proton is like a plague. If Proton partners PSA, the plague will destroy even the Peugeot good name also.

      PSA, this flip flop is very normal in Proton. Please pull out. Don’t bear the sins of Proton for ruining people’s lives.

      In the 80s, a good Toyota Corolla and a wonderful Nissan 130Y was RM20k. Now, the same car is RM139k. All because gomen wanted to protect Proton, they raised all car prices to ridiculous levels. Globally Japanese cars have not even doubled in price from 1985 to 2016.

      30 years people have suffered with high car loans. 30 million people suffered with high car loans plus high interest rates for Proton. No idea why, Proton cars had higher interest rates than other brands. Double whammy to screw the rakyat.

      Stay away PSA. Don’t tanggung dosa Proton to the rakyat.

      Well-loved. Like or Dislike: Thumb up 245 Thumb down 12
      • kelab kuntak on Mar 25, 2017 at 10:35 pm

        Same BS

        Like or Dislike: Thumb up 2 Thumb down 42
      • Mohd Jamal Ibrahim on Mar 26, 2017 at 7:25 am

        last time i buy my Ploton, interest 3.5%. Honda giving 2.4%…..Wake Up Malaysians!

        Well-loved. Like or Dislike: Thumb up 61 Thumb down 2
      • Nazri Ghani on Mar 26, 2017 at 5:05 pm

        Don’t forget the Billions Proton took from 1985. Mustafa said RM15 billion campur recent RM1.5 billion. But those are official figures. Real figures are triple or more.

        We could have built more hospitals and schools instead of having Potong.

        Like or Dislike: Thumb up 35 Thumb down 3
      • basherlogic on Mar 26, 2017 at 6:17 pm

        Better just close Proton down. Need to do VSS for all the goyang kaki. Too many goyang kaki.

        Like or Dislike: Thumb up 8 Thumb down 0
    • Jonn Dol on Mar 26, 2017 at 12:19 pm

      PROTON WILL SUCCEED, BASHERS WILL WEEP!

      Like or Dislike: Thumb up 6 Thumb down 18
      • basherlogic on Mar 26, 2017 at 6:25 pm

        How to succeed when cars cannot see also? Ertiga 1 year launch also i never seen one on road

        Like or Dislike: Thumb up 6 Thumb down 3
        • Passerby on Mar 26, 2017 at 11:32 pm

          ertiga, perdana until now i never 1 despite launch last year… brv and sienta can be seen everyday… civic even no need to say… normal now on the road despite same price with the perdana… ioniq started to see few already mainly blue and white

          Like or Dislike: Thumb up 2 Thumb down 2
          • Peter on Mar 27, 2017 at 1:57 pm

            I can’t agree with you … I saw 2nd perdana after 8 months! The number increase 50%!

            Like or Dislike: Thumb up 1 Thumb down 0
        • Kelab Penyayang Kunta on Mar 27, 2017 at 11:12 am

          Ertiga can never be seen. Perdana also all gomen vehicles. No private owner has bought one.

          So left with Saga and Persona. That also sales are so bad. Hardly see the Saga around too.

          Like or Dislike: Thumb up 2 Thumb down 1
  • Absolute Rider on Mar 24, 2017 at 7:48 pm

    Under Geely, Proton will become ENTRY LEVEL BRAND within Geely’s overall structure and Lotus maybe will become Geely’s as Li ShuFu personally wants Lotus so much.

    Proton must keep Lotus! If not, in the future sure you will own nothing.

    Like or Dislike: Thumb up 18 Thumb down 11
  • Drb seriously , decide and move on already, we the rakyat need our tax dollar funded soft loan repaid… Enough with your delay tactics and indecision….

    Like or Dislike: Thumb up 17 Thumb down 1
  • tokmoh. on Mar 24, 2017 at 8:18 pm

    Syok sendiri statement to prop up their share price.

    Tak sedar diri, sendiri no value, they should go beg on their knees to ask other people buy proton, instead they make all sorts of stupid demands that turn off the buyers. Ptuik.

    Like or Dislike: Thumb up 31 Thumb down 5
  • EnergyAnalyst on Mar 24, 2017 at 8:22 pm

    Oh the drama continue s

    Like or Dislike: Thumb up 6 Thumb down 0
  • Tanker on Mar 24, 2017 at 8:36 pm

    Oh pleaseeee. This is probably an attempt to calm investor nerves and prevent their stock prices from crumbling. Do you honestly believe Geely is in a position to make a fool of themselves by playing with the media ?

    Like or Dislike: Thumb up 16 Thumb down 3
  • Ganeson on Mar 24, 2017 at 8:37 pm

    Biddersss?! Ada hati mau tarik harga lagi ka…

    Lulz

    Like or Dislike: Thumb up 3 Thumb down 3
  • This fiasco is becoming more like a suspense thriller with plot twists here and there.

    Like or Dislike: Thumb up 5 Thumb down 1
    • john is otak batu on Mar 25, 2017 at 11:45 pm

      Plot apa! nyamiuk puntak nampak!
      Insaf lah “Potong”, orang “Tong-san” dah tak hidu ko!
      Jangan nak heboh, cakap sendiri wayang jer!

      Like or Dislike: Thumb up 4 Thumb down 1
  • Graduan Bijak on Mar 24, 2017 at 8:57 pm

    Dear Geely & Peugeot,

    Please pull out from the deal. You will never be able to fix Proton and instead you surely be losing billions and billions for nothing of which you will never recover.

    The prospect of using Tg.Malim factory as your hub is a fantasy. Furthermore entire Southeast Asian market will always love Japanese cars no matter what. That is a reality and stop wasting your time and money hoping for a miracle.

    Be smart just like our local graduates here that keep on avoiding Proton. Don’t fool yourself by doing the opposite.

    Thank you and good luck in your exit strategy from the booby trap.

    Yours truly,
    Graduan Bijak

    Like or Dislike: Thumb up 42 Thumb down 20
    • Abg jib on Mar 25, 2017 at 2:35 pm

      Graduan bijak , pls don’t talk like rubbish , now days all young graduate bankrupt because of toyota vios dugong & honda city kotak , bangga beli kereta Jepun & terlupa monthly payment , pls establish yourself before start comment, even though i have PHD , good salary & drive Panamera i never kutuk Proton

      Like or Dislike: Thumb up 26 Thumb down 51
      • Ng Kee Hoong on Mar 25, 2017 at 5:47 pm

        Why not yourself get a perdana?

        Like or Dislike: Thumb up 25 Thumb down 4
      • Nasi Lemak 2.5 on Mar 25, 2017 at 10:01 pm

        Why Porsche instead of Proton? Hypocrite… Like our minister. Said Proton comparable with foreign brands yet drive foreign cars themselves

        Like or Dislike: Thumb up 11 Thumb down 2
        • Noone forces you to buy P1, why forces others?

          Like or Dislike: Thumb up 4 Thumb down 5
        • Abg Jib on Mar 26, 2017 at 11:06 pm

          Hahaha , I’m not hypocrite , I also drive my Proton Iswara my first car but sometimes surprised attitude of the young people nowdays , dengan sikap biar papa asal bergaya , one more pls be matured when comments

          Like or Dislike: Thumb up 6 Thumb down 10
          • Hot dog on Mar 27, 2017 at 9:41 am

            I don see you are mutured … next time you really want to teaching lesson to someoe , please don tell you are phd , good salary and your recon panamera …

            Like or Dislike: Thumb up 1 Thumb down 2
          • @Abg Jib.
            Jangan ambik komen diorang di hati. Biarlah diorang papa kedana dgn sikap ego mereka nak tunjuk lagak pakai jepunis walaupun baru saje kluar pengajian. Gaji hanya mampu biaya motor tapi nak aim jepunis pulak. P1/P2 tak nampak. Lepas tu dtg complain kat sini.

            Like or Dislike: Thumb up 2 Thumb down 4
  • proton oh proton on Mar 24, 2017 at 9:21 pm

    Rakyat lost trust on you proton.. say what ever.. we do not believe in you.

    Like or Dislike: Thumb up 13 Thumb down 3
  • CEO of Malaysia on Mar 24, 2017 at 9:39 pm

    Just call Mercedes-Benz to buy our Proton lah.

    Like or Dislike: Thumb up 5 Thumb down 7
  • Coolguru on Mar 24, 2017 at 9:51 pm

    Of course Geely is back in the running with so many at stakes!!! All you need is just a phone call… my bet is that Geely sure win! The billion dollars need to come from somewhere and then magically go somewhere, you know…

    Like or Dislike: Thumb up 19 Thumb down 0
  • justsomepissedoffdude on Mar 24, 2017 at 10:07 pm

    do those guys at drb-hicom actually know what they’re doing???? It seems they don’t even know the bidders involved?? shiiiiiiiiiiiet

    Like or Dislike: Thumb up 13 Thumb down 1
  • John Cooper on Mar 24, 2017 at 10:10 pm

    Haha drb can say anything they wish, and to save face, probably in their interest to do so to calm everyone afterall paultan already reported geely pulled out…

    Like or Dislike: Thumb up 10 Thumb down 3
  • Madey on Mar 24, 2017 at 10:20 pm

    Ha ha the comment section seems to be quite this time.

    Like or Dislike: Thumb up 0 Thumb down 8
  • Lol geely… So noob… They only got played ‘today they say this, yesterday they said that’. Vendors alrdy got played 5x a day. 8am said tmrow n day after wont do any production, 11am said both day will run, 3pm said only night shift and the day after run, 5pm said only day after run, tmrow morning, both day wont run… Congratz

    Like or Dislike: Thumb up 8 Thumb down 1
  • Hammond on Mar 24, 2017 at 11:16 pm

    Proton Insignia Turbo.

    Like or Dislike: Thumb up 2 Thumb down 8
  • alldisc on Mar 24, 2017 at 11:25 pm

    Which fat lady sings? Coz I dont wanna hear

    Like or Dislike: Thumb up 3 Thumb down 0
  • A proverb say: you cant clap single handed. But proton can! By slapping on his own face. People already announced pull out. Now you say still on,then later you say not he left me,just I dont want him. You know, those kind of kindergarden stuff.

    Like or Dislike: Thumb up 15 Thumb down 0
  • SCMP says pulled out boleh caya ke? They the ones said all south coral island belongs to them…

    Like or Dislike: Thumb up 4 Thumb down 13
  • Wonder on Mar 25, 2017 at 12:28 am

    Whatever la proton..haih..penat dah aku

    Like or Dislike: Thumb up 15 Thumb down 1
  • Guest on Mar 25, 2017 at 8:50 am

    Just accept Geely as partner lah. There are already willing to help revive Proton’s image back, so don’t miss out on this oppurtunity

    Like or Dislike: Thumb up 8 Thumb down 5
  • Lau Khiew Hieng on Mar 25, 2017 at 9:06 am

    Somebody pls end this ordeal already. I missed the days when I open up PT, I see new upcoming cars, new released cars, talks about cars, not about this never ending topic.

    Like or Dislike: Thumb up 18 Thumb down 1
  • AutoFrenz (the original) on Mar 25, 2017 at 10:18 am

    Just wait and see..no need to speculate…avoid giving bangang and stupid comments which only reflect on your stupidity…too many silly comments here without substance…in the first place they didnt even read the article…

    Like or Dislike: Thumb up 8 Thumb down 15
    • Peter on Mar 27, 2017 at 2:02 pm

      How could you… The most and only fascinating stuff on proton news is the comments section! Don’t selfishly take away the joy. You can also see proton supporters response 5 yrs ago vs now.

      Like or Dislike: Thumb up 0 Thumb down 0
  • really tired of all the bs bunga…. just close shop la!!

    Like or Dislike: Thumb up 8 Thumb down 1
  • justsomepissedoffdude on Mar 25, 2017 at 11:41 am

    wow!! seems like they can’t even make up their minds about the bidders!!!

    Like or Dislike: Thumb up 9 Thumb down 0
  • TomParallax on Mar 25, 2017 at 11:48 am

    Dear DRB & P1, stop being such an egotistical janda. You have tons of unpaid debts to settle and yet you still jual mahal. It’s time for you to practise some discipline & humility. This is the 21st century. You see other top dogs are even venturing into partnerships; that’s called teamwork. Don’t give into greed. Pride is important but too much pride is harmful. But still, I bet most rakyat would wanna see Proton competing & standing in the eyes of the world. Nonetheless, all the best Proton!

    Like or Dislike: Thumb up 22 Thumb down 1
  • Mikey on Mar 25, 2017 at 11:52 am

    Yes, there will be more speculation & conjecture to crop up. This latest announcement is by DRB. There is NO reply by Geely. Suffice to say Geely is playing Cool if it is indeed True.

    Time is of the essence. Geely & PSA CAN wait but can P1 wait ?? WE, NOT P1 will be the main looser bcos P1 is loosing millions by the day.

    Can DRB & Gov put to rest once & for all for P1 bcos anyone in Incentive Care Unit(ICU) cost $$$ & the SUFFERING to the patient(P1) is TOO much for us to bear.

    Like or Dislike: Thumb up 11 Thumb down 1
  • type r on Mar 25, 2017 at 7:07 pm

    i think Proton has to cutdown the workforce

    Like or Dislike: Thumb up 3 Thumb down 2
  • type r on Mar 25, 2017 at 7:10 pm

    I think Proton has to cut
    off some of the workers

    Like or Dislike: Thumb up 3 Thumb down 2
  • I think Proton has to stop feeding Nasi Lemak to its workers

    Like or Dislike: Thumb up 5 Thumb down 1
  • Hot hatch on Mar 26, 2017 at 12:26 am

    Saga of Proton finding a marriage continues while Geely announce higher profit.

    Do DRBHCOM mean those bidders are running like headless chicken? Don’t know what Proton really wants or making demand that doesn’t make business sense?

    Like or Dislike: Thumb up 1 Thumb down 0
  • Karma Surely Coming on Mar 26, 2017 at 10:11 am

    DRB has been “bodoh sombong”, then “jual-mahal”, then “syoik-sendiri” and now?

    Going around generating fake, misleading news….

    These are definitely the syndromes of a failed management.

    Please, jangan buat dosa lagi…..

    Like or Dislike: Thumb up 8 Thumb down 1
  • Johnson Potien on Mar 26, 2017 at 10:15 am

    Who is the fat lady?

    Like or Dislike: Thumb up 3 Thumb down 0
  • Francis Lim on Mar 26, 2017 at 3:18 pm

    Proton is a “Black Widow company” Any company joint with it will be sucked to death. Why? The welfare company is full of Deadwood and nothing good will come out it since 1984.

    Like or Dislike: Thumb up 3 Thumb down 0
    • Pinin Maximus on Mar 27, 2017 at 9:38 pm

      Make it public listed company. This black widow company will be ur ah-moi even it is a black widow company

      Like or Dislike: Thumb up 0 Thumb down 0
  • Clean Slate on Mar 26, 2017 at 3:39 pm

    How about Tata, are they not interested? They have Jaguar Land Rover technology.

    Like or Dislike: Thumb up 2 Thumb down 1
  • Not Toyota Fan on Mar 26, 2017 at 6:35 pm

    Suspect all these statements released by DRB & P1 is to manipulate the stock price, what locally is known as “goreng”. Some locals wants to make a ton of money quickly, no matter who wins the bid. Wanna bet involve some big shots in those companies and perhaps some politicians too? And pls don’t say Securities Commission says stock manipulation is illegal, This Is Malaysia OK.

    Like or Dislike: Thumb up 6 Thumb down 0
  • Just shut down Proton!!!

    Like or Dislike: Thumb up 5 Thumb down 3
  • EnergyAnalyst on Mar 27, 2017 at 9:32 am

    Now I see what is flip flop, today this and tomorrow that means accused of Proton owner earlier by one of the bidder

    Like or Dislike: Thumb up 0 Thumb down 0
  • Why not Proton selling roti canai?

    Like or Dislike: Thumb up 5 Thumb down 0
  • camtakpro on Mar 27, 2017 at 10:19 am

    I think everyone should just stop buying any car from Proton until this thing sorts out.

    Like or Dislike: Thumb up 3 Thumb down 0
  • wawasan2020 on Mar 27, 2017 at 10:44 am

    suka tak suka ..China paling kuat di dunia sekarang.. hanya yang tak rasional saje tak pilih Geely..

    Like or Dislike: Thumb up 12 Thumb down 0
    • China paling kuat di dunia?
      Only you said that

      Like or Dislike: Thumb up 0 Thumb down 6
      • wawasan2020 on Mar 28, 2017 at 11:24 am

        ada masa pergi la luar negara tengok2..jgn sendiri cakap sendiri syok..kita ni tengok fakta bukan dengar fakta..

        Like or Dislike: Thumb up 5 Thumb down 0
  • Pinin Maximus on Mar 27, 2017 at 8:40 pm

    Geely Ciak Miak lerr…
    Madang China aja, HEBAT lah sgt…

    Sales byk tp sales dlm negara aja, overseas sales kelaut…

    Duit byk tp bodoh, sbb R&D lemah. TAKDE TEKNOLOGI LANGSUNG… l

    Stakat nak GLAMOR beli Volvo dan Sportcar Company…

    PM Perancis Lawat Malaysia HARI INI…

    PSA baru beli Opel(German) & Vauxhall(Britain)
    Opel & Vauxhall boleh bekerjasama dgn Proton sbb niche yg sama…
    Teknologi mereka antara yg STRONG di EU…

    PSA nak masuk Le-Mans semula, mmg sealiran dgn Proton sbb syarikat yg byk teknologi MESTI nak test atas track bukan atas HIGHWAY…

    Tp PSA X minat Lotus…
    Mungkin DRB akan beli Lotus drpd Proton & Lotus akan diambil-alih oleh Geely…

    Noob Malaysia (ckp ikut hati guna perasaan)

    Like or Dislike: Thumb up 0 Thumb down 4
    • Abg ajis on Mar 28, 2017 at 11:51 pm

      Hahahaha , u make my day my dear friends , banyak buat research tapi tak habis , for your info in Malaysia if buy Peugeot same like you already merisik tow car owner , learn from mistake tiara & savvy

      Like or Dislike: Thumb up 1 Thumb down 0
 

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