Proton To Become More Competitive With Foreign Tie-Up - Second Int'l Trade & Industry Minister

KUALA LUMPUR, Sept 29 (Bernama) -- Proton Holdings Bhd's collaboration with a foreign carmaker will enable it to produce better quality cars and make it more competitive in the market. Second International Trade and Industry Minister, Ong Ka Chuan, said in addition, the collaboration would also support Proton's research and development funding. "The motor vehicle industry is an innovative one. We only sell 600,000 vehicles a year compared to China which sells 24.3 million cars. "If we work with big players or big countries, the quality of our cars can be competitive with the help of other international brands," he told reporters after the launch of the Small and Medium Enterprises Solutions Expo 2016 here Thursday. However, he said, the decision would be in Proton's hand, now privately-owned by DRB-Hicom Bhd, and the government would not interfere in the sale of its stake. "They are free to make their own decision," he said. Ong said Proton had previously talked to a Chinese carmaker and is currently discussing with a German manufacturer. "I think they are looking for the best offer," he added. DRB-Hicom said Wednesday it was studying proposals on Proton's stake disposal from five potential buyers and aimed to complete the disposal exercise by the middle of next year. -- BERNAMA