Proton's FSP Evaluation In Final Stages

KUALA LUMPUR, March 22 (Bernama) -- Proton Holdings Bhd, the Malaysia's car manufacturer is currently in the final stages of evaluating its foreign strategic partner (FSP), which is expected to be finalised in the first half of this year, the Dewan Rakyat (Malaysian Parliament) was told Tuesday. Calling for all quarters to be patient, Second International Trade and Industry Minister Ong Ka Chuan said certain matters were still being discussed, especially on equity participation. "Proton might follow the direction taken by Perusahaan Otomobil Kedua Sdn Bhd (Perodua, another Malaysia's automobile manufacturer), but not necessarily so," he said when responding to a question from a member of parliament Wong Chen. He cited Perodua's strategic partnership with Daihatsu as an example, with Daihatsu owning 51 per cent of the equity. "Daihatsu has to have a 51 per cent stake as Perodua requires huge high-technology investment," he said. Ong hopes Proton's FSP would be able to elevate the national carmaker's position, both locally and internationally. --BERNAMA