Published on March 28th, 2017 | by Subhash Nair


DRB-HICOM Puts Rumours to Rest Regarding Proton’s Foreign Strategic Partner Search

DRB-HICOM Berhad says the search for PROTON Holdings Berhad’s foreign strategic partner (FSP) is a key part of turning around PROTON and making it a competitive carmaker. Group Managing Director, Dato’ Sri Syed Faisal Albar says this necessitates a detailed evaluation of all bids it has received from global carmakers.

“Our intent is to turn around the fortunes of PROTON. There are strengths and capabilities of the carmaker that, given a new proven partner that can offer technology, capabilities and new markets, will push PROTON as a brand to be reckoned with. This is why our evaluation of the bidders needs to be a detailed one. PROTON and the incoming FSP must be able to create synergies that will ensure the success of this venture,” Syed Faisal said.

He also reaffirmed the Group’s statement on Friday last week that all bidders are still in the running to be selected as PROTON’s FSP.

“There have been news reports stating that we are left with only one bidder. I can confirm that all parties that submitted bids for PROTON are still in the running and DRB-HICOM is still evaluating these bids. We are going through the tail-end of this meticulous process, and we are looking forward to completing this search by the end of the first half of this year,” he added.

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