Previously, there have been several reports that claimed DRB-HICOM have already selected a foreign strategic partner (FSP) for their wholly-owned carmaker, Proton. Rumours also suggest that the search for a FSP will be finalised by today, 15 February.
The company has come up with a press statement to reaffirm that they have yet to select the FSP candidate for Proton and the decision will be announced within the first half of this year, as previously mentioned.
DRB-HICOM also stated previously that this search is complex and thus, a time-consuming process. Upon receipt of the bids, the company will start detailed negotiations with the bidders to ensure the key considerations they stated before are met by the potential FSP; these are the strategic, operational and culture fit.
DRB-HICOM will then start the process for internal approvals, including convening a Shareholders’ meeting; as well as obtaining the necessary regulatory approvals and clearance that will pave the way for the selected FSP to acquire shares in Proton.
DRB-HICOM urge the public to not be misled by reports related to the FSP search as they will make the proper announcement once the process is completed.