DRB-Hicom best buyer for Proton stake: Mahathir

Publish date: Mon, 12 Dec 2011, 12:50 PM
DRB-Hicom Bhd, a Malaysian automobile assembler controlled by billionaire Syed Mokhtar Shah Al-Bukhary, is the best potential buyer for Khazanah Nasional Bhd's 43 percent stake in carmaker Proton Holdings Bhd, former Prime Minister Mahathir Mohamad said.

Khazanah has yet to select a buyer, said Mahathir, who is an adviser to Proton. A new shareholder would need to invest fresh funds to develop new products, so the stake should be sold at a "reasonable" price, he said in a joint interview today in Putrajaya, outside of Kuala Lumpur. -- Bloomberg

Labels: DRBHCOM

Discussions
Be the first to like this. Showing 4 of 4 comments

Jake

More than meets the eye...

2011-12-12 13:42

stephenlee

Taxpayers are bleeding in this country as proton is not competitive at all if not protected by the Govt in this country. Proton may go bankrupt if govt open up the market to competitive with NAZA group of companies.

2011-12-12 17:19

sure88

Tun don't forget you bought back MAS shares from TR at $8 when it was trading at $5 and Proton sold Agusta at 1 euro.. Proton does not need fresh funds but instead needs to collaborate with a reputable producer as well as a new direction. If the present management remains status quo , Proton will never change and would require govt support and protection for another 25 years.

2011-12-12 17:38

valueinvestor

Like what Sime Darby did in E &O acquisition, DRB-Hicom may buy a 30% stake only in Proton and can avoid a GO for the rest of the shares. :-)

2011-12-12 20:27

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