Proton’s new partner to be announced by May

IPOH: Proton, Malaysia’s largest carmaker, will be able to announce its new strategic partner by May, says Datuk Seri Ong Ka Chuan.

The International Trade and Industry Minister II was commenting on reports of Chinese carmaker Geely Automobile Holdings withdrawing its bid to acquire a controlling stake in Proton.

“There are already a few other bidders at the moment, Geely is not the only one.

“They are currently trying to finalise the decision. Since Proton is a private entity now, the Government cannot help them make the decision.

“We are only able to nudge them in the direction towards finding a right strategic partner,” he told reporters here yesterday.

He said Geely pulling out of the bid was not the end of the road as Proton would still continue to revamp its set-up with the construction of a new main plant in Tanjung Malim, Perak.

“Consolidating Proton with a strategic partner from the international market would, no doubt, help build up our automobile industry.

Ong also stressed the importance of Proton conducting proper research and development with a new strategic partner in keeping up with technological advances.

“Their R&D is undeniably strong, from the car’s internal smart operating system to its external body parts built from high-tech materials,” he said.

Ong said this in response to Proton Edar Sdn Bhd CEO Abdul Rashid Musa’s comment that 70% of graduates preferred driving foreign brand cars.

He said a strategic partner, especially from the international market, could enhance Proton’s research system through the sharing of knowledge and information.

“This way, Proton can become more competitive and build better cars not only for the local market, but also for Asean,” Ong added.