Proton Holdings Bhd, the national carmaker, rose 2.5 per cent to RM4.94, set for its highest close since Sept 30, 2010.
General Motors Co may buy as much as 50 per cent of Proton’s stake in an auto plant in Tanjung Malim for up to RM800 million, the Edge weekly newspaper reported, citing people it didn’t identify.
Proton Managing Director Syed Zainal Abidin Syed Mohamed Tahir couldn’t immediately return calls seeking comment. Proton was also upgraded to “trading buy” from “neutral” at CIMB Group Holdings Bhd, which raised its share-price estimate to RM5.45 from RM4.35.
General Motors Co may buy as much as 50 per cent of Proton’s stake in an auto plant in Tanjung Malim for up to RM800 million, the Edge weekly newspaper reported, citing people it didn’t identify.
Proton Managing Director Syed Zainal Abidin Syed Mohamed Tahir couldn’t immediately return calls seeking comment. Proton was also upgraded to “trading buy” from “neutral” at CIMB Group Holdings Bhd, which raised its share-price estimate to RM5.45 from RM4.35.
