Proton's Transfer Of Ownership To Be Completed By March, Says Dr M

KUALA LUMPUR, Feb 23 (Bernama) -- Proton Holdings Bhd's transfer of ownership from Khazanah Nasional Bhd to DRB-Hicom Bhd will be completed by next month, says the adviser to the national automaker, Dr Mahathir Mohamad (right). The former Prime Minister said by the given timeline, the new leadership will also be finalised. "As for now, the new management has not been decided. "We (Proton) are still in the midst of the transfer process to the new company as there are certain takeover codes which have to be complied with. "I think by March we should have completed the transfer of ownership to the new management," he told reporters after launching the Malaysia OSV Owners' Association (OSV Malaysia), here on Thursday. Asked as to whether former Proton chief executive officer, Tengku Mahaleel Tengku Ariff would make a comeback as the company's new chairman, Dr Mahathir said as far as he is concerned, "there is no confirmation." The current chairman, Nadzmi Salleh had earlier also indicated to the local media, his willingness to lend a helping hand to Proton's new owner. On this, Mahathir said: "Whether he is to be retained, is not for me to decide. It is for the new owners to make that decision." Khazanah sold its 42.7 per cent equity interest to DRB-Hicom, citing the company's capital base and experience in the automotive industry. Nadzmi was one of the bidders for the stake. Earlier Mahathir receives a souvenir from OSV Malaysia president Capt Tasripin Masotee (left) after launching the event. -- BERNAMA