Pro­ton will do well, says ex-PM

New Straits Times - - News -

KUALA LUMPUR: Former prime min­is­ter Tun Dr Ma­hathir Mo­hamad yes­ter­day lamented Zhe­jiang Geely Hold­ing Group Co Ltd’s ac­qui­si­tion of a 49.9 per cent stake in Pro­ton.

Dr Ma­hathir, who is also former Pro­ton chair­man, said the sale of Pro­ton’s stake by DRB-Hi­com Bhd to the Chi­nese car­maker is prob­a­bly the be­gin­ning of an “in­ex­orable process”.

“Pro­ton has been sold. It has been sold to for­eign­ers.

“They say Pro­ton is my brain­child.

“Now the child of my brain has been sold.

“Yes. I am sad. I can cry. But the deed is done ....

“We, Malaysians, are glad to be rid of this pesky car,” he said.

He said he was sure that Pro­ton will do well and be a com­mer­cial suc­cess, sell­ing glob­ally.

“Now we can be proud of Pro­ton.

“With money and su­pe­rior tech­nol­ogy it will com­pete with Rolls Royce and Bent­ley,” he said in his blog.

He said, how­ever, that he could not be proud of its suc­cess as Pro­ton was now some­thing that did not be­long to him or Malaysia.

“Maybe other Malaysians will, but not me.”

Zhe­jiang Geely Hold­ing Group, which also owns Volvo, signed an agree­ment on Wed­nes­day to ac­quire a 49.9 per cent stake in Pro­ton Hold­ings Bhd.

Sec­ond Fi­nance Min­is­ter Datuk Seri Jo­hari Ab­dul Ghani wit­nessed the sign­ing cer­e­mony be­tween Geely Hold­ing and DRBHi­com Group.

Jo­hari said while the deal would re­sult in DRB-Hi­com re­lin­quish­ing 49.9 per cent of Pro­ton to Geely, Pro­ton would re­main the na­tional car­maker and a source of pride as DRB-Hi­com would still hold the ma­jor­ity share in Pro­ton at 50.1 per cent.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.