Chinese partner sues Malaysia’s national car maker
Proton in tie-up with Mitsubishi to build new car
October 7, 2008
launching CNG-powered Persona in Thailand
September 10, 2008
Malaysia’s Proton to sell
new MPV in Thailand, Indonesia
September 3, 2008
Detroit Electric starts
partnership talks with Malaysia's Proton
August 26, 2008
GM setting up Asean MPV
hub in Indonesia
August 25, 2008
Malaysia: Perodua to keep
the crown with facelifted Myvi
August 15, 2008
Automotive: GM turns
bullish in Asean
August 4, 2008
Malaysia’s Proton makes
new hybrid car
July 21, 2008
Malaysia’s Proton needs
foreign partner to compete
June 27, 2008
Malaysia eyes investment
from hybrid car makers
June 23, 2008
Malaysia's car sales in May down 4.7%
June 20, 2008
Malaysia’s Proton still
needs government support
May 27, 2008
New models boost Proton’s Q4 profit
Asean automotive industry
Early growth buoys the markets
Malaysia’s Proton considers selling majority stake
Malaysia's national car company Proton Holdings may sell a controlling stake to a foreign carmaker, company Chairman Nadzmi Mohd Salleh told the Business Times newspaper.
"If Proton is a problem child, we have to let it go," Reuters reported quoting Nadzmi as telling the paper in an interview published on Monday.
"But if you want to enhance Proton's capability and also the viability over a period of difficult times, then the collaboration with the foreign car makers has to take a different form," Nadzmi was quoted by the paper as saying.
State-owned Proton, which has seen its domestic market share fell to below 30 percent from more than 60 percent in the 1990s. In 2007, it held talks with Germany's Volkswagen and U.S. auto giant General Motors on a possible partnership.
But the talks collapsed due to disagreements over the deal structure in a company that the Malaysian government regards as a national asset.
Proton made a net profit of 43.81 million Malaysian ringgit ($12.38 million) in the second quarter.
Proton has been approached by car companies from Japan and the U.S as well as India, Nadzmi was quoted by the Business Times as saying.
"If they (foreign car makers) buy a stake in Proton, they can get the 29 percent (Malaysian market) share that Proton has. They know what they want, it is up to the shareholders to decide if they want to sell Proton," said Nadzmi who was appointed on January 1.
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