Monday 12 December 2011

DRB-Hicom best buyer for Proton stake: Mahathir

DRB-Hicom Bhd, a Malaysian automobile assembler controlled by billionaire Syed Mokhtar Shah Al-Bukhary, is the best potential buyer for Khazanah Nasional Bhd’s 43 percent stake in carmaker Proton Holdings Bhd, former Prime Minister Mahathir Mohamad said.

Khazanah has yet to select a buyer, said Mahathir, who is an adviser to Proton. A new shareholder would need to invest fresh funds to develop new products, so the stake should be sold at a “reasonable” price, he said in a joint interview today in Putrajaya, outside of Kuala Lumpur. -- Bloomberg



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