UMW has no plans to acquire Khazanah Nasional's 42.7 per cent stake in national automaker Proton, saying "it has a lot in its hands already".
Group Chairman Tan Sri Asmat Kamaludin said UMW's focus was on its present commitments, mainly the partnership with Toyota and Perodua.
"I think we've already cleared that UMW is not making any bids. We at UMW are committed to our partner Toyota in enhancing its business here in Malaysia and making Perodua self-reliant pre- and post-NAP (National Automotive Policy).
"We've never made any bids. The reports say that shareholders of UMW have made the bid. I don't know about that. May be you have to ask them," he told reporters after the media launch of new Toyota Avanza here today.
Asmat said as far as UMW was concerned, the Proton issue had not been discussed at board level.
"And as far as I know we have no plans to make a bid. We have not even considered it," he said.
UMW, he said, had plans to ensure Perodua survive post the implementation of the new NAP where the government had indicated that it would liberalise the automotive sector by 2016.
"We have a plan to develop Perodua and make it self-reliant before that," he said. UMW is the largest shareholder of Perodua with a 38 per cent stake.
On the proposed strategic collaboration between Proton and Perodua, Asmat said they were looking at the areas of collaboration.
"But there is no talk about exchange of equity or ownership," he added. -- Bernama
Group Chairman Tan Sri Asmat Kamaludin said UMW's focus was on its present commitments, mainly the partnership with Toyota and Perodua.
"I think we've already cleared that UMW is not making any bids. We at UMW are committed to our partner Toyota in enhancing its business here in Malaysia and making Perodua self-reliant pre- and post-NAP (National Automotive Policy).
"We've never made any bids. The reports say that shareholders of UMW have made the bid. I don't know about that. May be you have to ask them," he told reporters after the media launch of new Toyota Avanza here today.
Asmat said as far as UMW was concerned, the Proton issue had not been discussed at board level.
"And as far as I know we have no plans to make a bid. We have not even considered it," he said.
UMW, he said, had plans to ensure Perodua survive post the implementation of the new NAP where the government had indicated that it would liberalise the automotive sector by 2016.
"We have a plan to develop Perodua and make it self-reliant before that," he said. UMW is the largest shareholder of Perodua with a 38 per cent stake.
On the proposed strategic collaboration between Proton and Perodua, Asmat said they were looking at the areas of collaboration.
"But there is no talk about exchange of equity or ownership," he added. -- Bernama
