KUALA LUMPUR: DRB-Hicom Bhd group managing director Datuk Seri Mohd Khamil Jamil has quashed speculation that a new CEO has been endorsed to head Proton Holdings Bhd.
“I’ve got in my mind the formation of the new management [for Proton] but for the time being I can’t reveal [it],” he said.
Khamil said he was surprised when the media raised a certain name as the person to be appointed CEO and that he had been endorsed by DRB-Hicom.
“I’m not endorsing anybody as CEO yet,” he told reporters at the signing of an international collaborative agreement between Liverpool John Moores University and International College of Automotive yesterday.
Last month, DRB-Hicom announced the proposed acquisition of 42.74% equity interest in Proton from Khazanah Nasional Bhd for RM1.3 billion cash and a mandatory general offer for the remaining Proton shares for RM5.50 a piece.
Khamil said he had yet to see the Proton management officially to discuss the future of the national car manufacturer.
He said DRB-Hicom must complete the acquisition process before going into the details in terms of Proton’s future direction.
Asked whether the shareholders would respond positively to the deal, Khamil said they have been accommodating.
“They’ve expressed their support of our decision to take over Proton and I hope they will also endorse and agree with our decision at the upcoming EGM,” he said.
On whether DRB-Hicom will dispose of Proton’s loss-making unit Lotus Group, he said the company needs to have access and has to look at Lotus because it is an important element of Proton.
“We’ve to make calculations and make an evaluated decision,” he said, adding that he cannot move on Lotus Group without knowing the details of what Lotus is all about and how it can fit into DRB-Hicom’s future plans.
On DRB-Hicom’s plans for Proton’s under-utilised Tanjung Malim plant, Khamil said there must be a rationalisation instead of maximisation.
“It’s easy to maximise capacity as we did at our automotive plant in Pekan, Pahang. But as a car manufacturer, we must not only look into maximising capacity, but also at production and manufacturing cars to fit Proton’s DNA,” he said.
This article appeared in The Edge Financial Daily, February 10, 2012.
“I’ve got in my mind the formation of the new management [for Proton] but for the time being I can’t reveal [it],” he said.
Khamil said he was surprised when the media raised a certain name as the person to be appointed CEO and that he had been endorsed by DRB-Hicom.
“I’m not endorsing anybody as CEO yet,” he told reporters at the signing of an international collaborative agreement between Liverpool John Moores University and International College of Automotive yesterday.
Last month, DRB-Hicom announced the proposed acquisition of 42.74% equity interest in Proton from Khazanah Nasional Bhd for RM1.3 billion cash and a mandatory general offer for the remaining Proton shares for RM5.50 a piece.
Khamil said he had yet to see the Proton management officially to discuss the future of the national car manufacturer.
He said DRB-Hicom must complete the acquisition process before going into the details in terms of Proton’s future direction.
Asked whether the shareholders would respond positively to the deal, Khamil said they have been accommodating.
“They’ve expressed their support of our decision to take over Proton and I hope they will also endorse and agree with our decision at the upcoming EGM,” he said.
On whether DRB-Hicom will dispose of Proton’s loss-making unit Lotus Group, he said the company needs to have access and has to look at Lotus because it is an important element of Proton.
“We’ve to make calculations and make an evaluated decision,” he said, adding that he cannot move on Lotus Group without knowing the details of what Lotus is all about and how it can fit into DRB-Hicom’s future plans.
On DRB-Hicom’s plans for Proton’s under-utilised Tanjung Malim plant, Khamil said there must be a rationalisation instead of maximisation.
“It’s easy to maximise capacity as we did at our automotive plant in Pekan, Pahang. But as a car manufacturer, we must not only look into maximising capacity, but also at production and manufacturing cars to fit Proton’s DNA,” he said.
This article appeared in The Edge Financial Daily, February 10, 2012.
