Tuesday, March 28, 2017

DRB-HICOM REAFFIRMS NEED TO BE DETAILED IN PROTON FSP SEARCH

"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," said DRB-HICOM Berhad (DRB-HICOM) Group Managing Director, Dato' Sri Syed Faisal Albar. With this he basically reaffirmed the Group's statement last week that all bidders are still in the running to be selected as PROTON's FSP.


This is the second media statement in a few days as regards this matter. I suppose people and industry pundits are still jumping with the rumour that Geely has pulled out of contention. They are now adding that the group wants to be thorough in coming to a final decision.

It would seem DRB-HICOM want a win-win situation. I suppose this would still mean that they want Malaysians to still have a say in things and not leave it to the Foreign Strategic Partner (FSP) to handle everything. Again, let's just wait and see. Anyone putting money on this? By putting money I mean buying up shares in DRB-HICOM, Geely or PSA. Whether locally or abroad.

MEDIA RELEASE 
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

added.

ENDS

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