Proton to stay under government control
SEREMBAN: Proton Holdings Bhd will remain in the Government’s control even if 51% of Proton’s manufacturing division is sold to a strategic partner, said deputy Finance Minister Datuk Dr Awang Adek Hussin.
He said a strategic partnership was important for the national automobile company to ensure it was not excluded from competing internationally, adding that Proton could not depend solely on local sales but also explore the world market.
To achieve this, expertise of international standards and strategic partnership was needed, he added.
“The Government will evaluate and decide what is the best for Proton. We will ensure that the country’s interest in the company is upheld,” he told reporters yesterday after opening the Kolej Tunku Kurshiah co-curriculum awards ceremony.
Second Finance Minister Tan Sri Nor Mohamed Yakcop had announced on Friday that the Government was in talks with Volkswagen AG (VW) on the possibility of teaming up with Proton Holdings Bhd.
Previous reports had said the Government was considering selling a stake in the national carmaker to VW. Another party that the Government was talking to was PSA Peugeot.
Dr Awang Adek added that many parties had shown interest in a strategic partnership with Proton but none were as solid compared to VW.
He declined to reveal the list of local companies who were also competing for a share of the company.
On the 9th Malaysia Plan, he said more than half of the 880 projects had begun with the remainder awaiting the outline and completion of tender.
He said a strategic partnership was important for the national automobile company to ensure it was not excluded from competing internationally, adding that Proton could not depend solely on local sales but also explore the world market.
To achieve this, expertise of international standards and strategic partnership was needed, he added.
“The Government will evaluate and decide what is the best for Proton. We will ensure that the country’s interest in the company is upheld,” he told reporters yesterday after opening the Kolej Tunku Kurshiah co-curriculum awards ceremony.
Second Finance Minister Tan Sri Nor Mohamed Yakcop had announced on Friday that the Government was in talks with Volkswagen AG (VW) on the possibility of teaming up with Proton Holdings Bhd.
Previous reports had said the Government was considering selling a stake in the national carmaker to VW. Another party that the Government was talking to was PSA Peugeot.
Dr Awang Adek added that many parties had shown interest in a strategic partnership with Proton but none were as solid compared to VW.
He declined to reveal the list of local companies who were also competing for a share of the company.
On the 9th Malaysia Plan, he said more than half of the 880 projects had begun with the remainder awaiting the outline and completion of tender.
posted by SEE FU at 4:05 PM
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