March 19, 2012
KUALA LUMPUR, March 19 — Putrajaya today defended Khazanah Nasional Berhad’s sale of its 42.7 per cent stake in Proton to DRB-Hicom, saying the conglomerate’s experience was the main asset for the national carmaker.
International Trade and Industry Minister Datuk Seri Mustapa Mohamad told Parliament today DRB Hicom had already set a “short-, medium-, long-term plan” for Proton which will ensure its success.
“Twenty-six years of experience in the local automotive sector, a strong, strategic partnership network with the biggest names in the world, Volkswagen, Audi, Mitsubishi, Suzuki, Isuzu, and Mahindra... is DRB-Hicom’s main asset,” Mustapa said in reply to Khairy Jamaluddin.
The Rembau MP had asked Mustapa to state Proton’s direction and future strategy after DRB-Hicom’s purchase, as well as efforts to lower costs and increase efficiency.
“The new business model to be introduced by DRB-Hicom will ensure the continuity and success of Proton as well as the local automotive ecosystem,” Mustapa said.
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