Monday, 19 December 2011

RHB Research sees UMW-Proton alliance as unlikely

KUALA LUMPUR (Dec 19): RHB Research Institute said on Monday that a UMW-Proton alliance is an unlikely scenario.

It said that UMW’s principal Toyota Motors, via its affiliate Daihatsu Motors, already had an interest in Perodua.

“We believe such a move is unlikely to have the backing of Toyota,” it said.

RHB Research was commenting on an announcement by UMW last Friday where it had, for the second time, denied any interest in Khazanah Nasional’s Proton stake after the first announcement on Thursday.

UMW had also announced to Bursa Malaysia that neither it nor its major shareholders had submitted any bids to Khazanah, nor have they won any bids to buy Khazanah's stake in Proton Holdings.

UMW also re-affirmed that it is not in any form of discussion with any parties in this regard.

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