'Positive News' On Proton-VW Tie-Up Can Be Expected In June - Nor

KUALA LUMPUR, June 13 (Bernama) -- Some positive news can be expected later this month on negotiations for Volkswagen AG to become national carmaker Proton's strategic partner, Second Finance Minister Tan Sri Nor Mohamed Yakcop said tonight.

The government, according to him, is hopeful that the second round of talks between the two parties will be successful as the earlier round in New York had shown positive signs.

"InsyaAllah, we hope the discussions with Volkwagen now entering its second stage will be successful and we will in a short time be able to say something on the progress of the talks," he said during an hour-long live interview over RTM1.

Prime Minister Datuk Seri Abdullah Ahmad Badawi said yesterday Proton and Volkwagen are expected to have a second round of talks soon in Bangkok.

Nor Mohamed clarified that he was not involved in the first round of talks between the two carmakers in New York although he was also in that city at the same time.

"I was there to meet rating agencies and investors... I did not meet Volkswagen, others did," he said.

On Proton and General Motors having a possible partnership, Nor Mohamed said that remains "on the table," but said he is unable to shed light on it.

-- BERNAMA