SHAH ALAM: Malaysian automobile assembler DRB-Hicom Bhd said yesterday it will keep its options open for selling Proton Holdings Bhd’s sports car unit Lotus, while ruling out an equity sale of Proton.
DRB-Hicom acquired a 42.74% equity stake in Proton on Tuesday.
Managing director Datuk Seri Mohd Khamil Jamil said the company will meet with the Lotus management as soon as possible and conduct due diligence before making a decision.
“I’m open to options, whether to move up or move forward on Lotus. We have to sit with the Lotus management and look at their plans before making any decisions.
“I’m not looking to sell at this moment until I see the company,” he said at a media briefing here yesterday.
Proton bought Lotus in 1996.
Khamil said, “If you look at my record, I do not sell companies; it’s never been in our plan to dispose of any equity.”
The plan right now is to take the company private, he added.
DRB-Hicom will steer Proton into the future by looking into foreign collaborations and branding, Khamil said.
“Branding is important to go global and there will be alliances, collaborations or joint-ventures with foreign partners to assist (us) and give us a platform to move into the global market.
“My agenda is not just Proton but also the national automobile industry, and we must brand Proton as a good car manufacturer besides being a national car,” he said.
He said DRB-Hicom was in exploratory talks with its foreign partners about a possible collaboration involving Proton, adding that DRB-Hicom was looking forward to meeting with Proton’s management to discuss growth plans, including the vendor supply chain, reviving the brand name and increasing exports.
Any possible tie-ups must be a win-win collaboration, he said, adding that DRB-Hicom intended to move forward as a car producer and a car manufacturer.
“I’m open. It could be General Motors, Volkswagen or Honda that are willing to work (with us) and give benefits to Proton and the industry,” he said.
On changes in Proton’s management, Khamil said he preferred it to be a blend of old and new.
“There maybe changes or may not be,” he said.
This article appeared in The Edge Financial Daily, January 19, 2012.
DRB-Hicom acquired a 42.74% equity stake in Proton on Tuesday.
Managing director Datuk Seri Mohd Khamil Jamil said the company will meet with the Lotus management as soon as possible and conduct due diligence before making a decision.
“I’m open to options, whether to move up or move forward on Lotus. We have to sit with the Lotus management and look at their plans before making any decisions.
“I’m not looking to sell at this moment until I see the company,” he said at a media briefing here yesterday.
Proton bought Lotus in 1996.
Khamil said, “If you look at my record, I do not sell companies; it’s never been in our plan to dispose of any equity.”
The plan right now is to take the company private, he added.
DRB-Hicom will steer Proton into the future by looking into foreign collaborations and branding, Khamil said.
“Branding is important to go global and there will be alliances, collaborations or joint-ventures with foreign partners to assist (us) and give us a platform to move into the global market.
“My agenda is not just Proton but also the national automobile industry, and we must brand Proton as a good car manufacturer besides being a national car,” he said.
He said DRB-Hicom was in exploratory talks with its foreign partners about a possible collaboration involving Proton, adding that DRB-Hicom was looking forward to meeting with Proton’s management to discuss growth plans, including the vendor supply chain, reviving the brand name and increasing exports.
Any possible tie-ups must be a win-win collaboration, he said, adding that DRB-Hicom intended to move forward as a car producer and a car manufacturer.
“I’m open. It could be General Motors, Volkswagen or Honda that are willing to work (with us) and give benefits to Proton and the industry,” he said.
On changes in Proton’s management, Khamil said he preferred it to be a blend of old and new.
“There maybe changes or may not be,” he said.
This article appeared in The Edge Financial Daily, January 19, 2012.
