DRB-HICOM REAFFIRMS NEED TO BE DETAILED IN PROTON FSP SEARCH
Synergies critical to ensure success
Shah Alam, 28 March, 2017: DRB-HICOM Berhad (DRB-HICOM) says the search for
PROTON Holdings Berhad's (PROTON) foreign strategic partner (FSP) is a key part of
turning around PROTON and making it a competitive carmaker. Group Managing Director,
Dato' Sri Syed Faisal Albar says this necessitates a detailed evaluation of all bids it has
received from global carmakers.
"Our intent is to turn around the fortunes of PROTON. There are strengths and capabilities of
the carmaker that, given a new proven partner that can offer technology, capabilities and new
markets, will push PROTON as a brand to be reckoned with. This is why our evaluation of
the bidders needs to be a detailed one. PROTON and the incoming FSP must be able to create
synergies that will ensure the success of this venture," Syed Faisal said.
He also reaffirmed the Group's statement on Friday last week that all bidders are still in the
running to be selected as PROTON's FSP.
"There have been news reports stating that we are left with only one bidder. I can confirm
that all parties that submitted bids for PROTON are still in the running and DRB-HICOM is
still evaluating these bids. We are going through the tail-end of this meticulous process, and
we are looking forward to completing this search by the end of the first half of this year," he