Business

Proton to name foreign partner in April

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Syndicated News
Written by Syndicated News

SHAH ALAM — January 26, 2017: Proton Holdings aims to announce its foreign strategic partner in April, or the latest by end-June.

Chief Executive Officer Datuk Ahmad Fuaad Kenali said that currently there are three final shortlisted potential partners that are doing the due diligence process on Proton.

“It is a complex transaction for a complex industry and this will surely take time.

“And when they come out with their proposals later on, we still have to do a lot of clarification, evaluation and perhaps negotiations,” said Fuaad.

Fuaad spoke to reporters today after Proton received the accreditation as a one-stop centre for the National Dual Training System (SLDN) programme endorsed by the Ministry of Human Resources and the Department of
Skills Development for skills training in automotive.

Proton is currently undertaking a request for a proposal exercise to seek a partner that can provide a strategic, operational and cultural fit on a permanent basis, with the intention of growing its automotive business.

The car-maker is expected to receive a complete proposal from the interested parties from February.

According to Fuaad, the deal involves Proton as a group and is inclusive of the Lotus Group, its wholly-owned unit.

On the SLDN programme, Fuaad said it is testament to Proton’s commitment in developing and producing more skilled workers, in line with the government’s aim to transform technical and vocational education and training. — Bernama

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