DRB-Hicom Keeps Options Open On Lotus

SHAH ALAM (Selangor, Malaysia), Jan 18 (Bernama) -- Malaysian automobile assembler DRB-Hicom Bhd said on Wednesday it will keep its options open about selling Proton Holdings Bhd's sports car unit Lotus while ruling out an equity sale of Proton. DRB-Hicom acquired a 42.74 per cent equity stake in Proton on Tuesday. Managing director Mohd Khamil Jamil said the company will meet with the Lotus management as soon as possible and conduct due diligence before making a decision. "I'm open to options whether to move up or move forward on Lotus. We have to sit with the Lotus management and look at their plans before making any decisions. "I'm not looking to sell at this moment until I see the company," he said at a media briefing here on Wednesday. Proton bought Lotus in 1996. Mohd Khamil said, "If you look at my record, I do not sell companies, it's never been in our plan to dispose of any equity." The plan right now is to take the company private, he added. -- BERNAMA