In a statement issued on Monday evening, DRB-Hicom has remained “highly committed” to hold majority stake in national car maker Proton.
“DRB-Hicom Bhd wishes to deny the statement suggesting it may dispose of all of its stake in Proton Holdings Bhd,” according to the statement issued by them. This was in response to the earlier report, which DRB-Hicom is currently assisting Proton in its turnaround programme.
DRB-Hicom further added that part of the deal of the RM1.25 billion soft loan granted by the government requires Proton to find a strategic partner that is able to provide a strategic, operational and cultural fit on a fixed basis.
“This exercise is expected to be completed in the first quarter of 2017 and its implementation is being overseen by the Task Force Committee formed by the Government to monitor the turnaround of Proton,” DRB-Hicom added said.
The company will make an official announcement to Bursa Malaysia Securities in a timely matter, according to the report from The Star. DRB-Hicom boss Datuk Seri Syed Faisal Albar Syed Ali Rethza added that the report was “not true at all”