Strategic Partner For Proton Must Accept The Ground Rules - Najib
PEKAN, June 1 (Bernama) -- Deputy Prime Minister Datuk Seri Najib Tun Razak said today any potential strategic partner for Proton must appreciate the ground rules involved.
The partner must also abide by the parameters that have been set, he added, reminding that as a vital national company it will never be allowed to fall into foreign control.
"We are seeking a strategic partner to have a firm collaboration of the strengths of both Proton and the partner, and we believe this will enable Proton to become more competitive.
"(Such a collaboration) must be in line with our thinking and our position, otherwise there cannot be an agreement.
"What this means is that we will not simply hand over Proton, we have our stand that a prospective strategic partner must accept," he told reporters after opening Expo ATM 2007 in conjunction with Pekan Fest here.
Yesterday, Prime Minister Datuk Seri Abdullah Ahmad Badawi said Volkswagen AG had lost interest in having a strategic partnership in terms of equity with Proton, but the car maker's controlling shareholder, Khazanah Nasional, explained today that talks are ongoing with VW and General Motors.
Najib said Proton must take steps to ensure that it re-emerges as a successful company.
"We don't want to see it wallowing in debt even though the environment and market have become more competitive," he stressed. "I believe Proton is already making efforts to to recover."
-- BERNAMA
The partner must also abide by the parameters that have been set, he added, reminding that as a vital national company it will never be allowed to fall into foreign control.
"We are seeking a strategic partner to have a firm collaboration of the strengths of both Proton and the partner, and we believe this will enable Proton to become more competitive.
"(Such a collaboration) must be in line with our thinking and our position, otherwise there cannot be an agreement.
"What this means is that we will not simply hand over Proton, we have our stand that a prospective strategic partner must accept," he told reporters after opening Expo ATM 2007 in conjunction with Pekan Fest here.
Yesterday, Prime Minister Datuk Seri Abdullah Ahmad Badawi said Volkswagen AG had lost interest in having a strategic partnership in terms of equity with Proton, but the car maker's controlling shareholder, Khazanah Nasional, explained today that talks are ongoing with VW and General Motors.
Najib said Proton must take steps to ensure that it re-emerges as a successful company.
"We don't want to see it wallowing in debt even though the environment and market have become more competitive," he stressed. "I believe Proton is already making efforts to to recover."
-- BERNAMA
Labels: Proton
posted by SEE FU at 11:06 AM
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