The ex-PM added that that Khazanah was selling because it wasn’t pumping more money into Proton, which needs funds for R&D work on new products such as hybrid cars, according to The Star.
“I worry about the buyer (DRB-Hicom) having enough money to inject into Proton. The shares it will be buying are above market price, which will make profitability difficult,” Tun said at the MIDF Investment Forum in Langkawi. “But I believe in DRB-Hicom’s capabilities,” he said, assuring that the status of Proton as a national car would remain after the ownership change.
It was previously reported that there were three parties bidding for the Government’s stake in Proton – DRB-Hicom, a management buyout led by Proton chairman Datuk Mohd Nadzmi Mohd Salleh and parties linked to the Naza Group. Today’s report reveals that Khazanah had been also approached Sime Darby Motors, Hyundai-Berjaya Sdn Bhd, and UMW Holdings Bhd.
© 2011 Paul Tan's Automotive News. All Rights Reserved.
This story originally appeared on Paul Tan's Automotive News on Mon, 12 Dec 11 04:36:05 +0000.
Related posts:
- Three-way fight for Proton stake shaping up – DRB-Hicom, Naza and Proton chairman Datuk Mohd Nadzmi involved?
- Khazanah wants equity partner for Proton
- General Motors may make bid for Proton stake
- Khazanah may take Proton private
Link to full article
Không có nhận xét nào:
Đăng nhận xét