Ong Ka Chuan says government is merely encouraging national carmaker to seek a foreign strategic partner to boost its capabilities.
ALOR GAJAH: Talk that Proton Holdings Bhd will sell 51% of its shares to a foreign company is untrue, as the final decision has not been made, International Trade and Industry Minister II Ong Ka Chuan said yesterday.
“The government is not relinquishing the country’s proprietary rights. We are looking at the opportunities to help Proton grow more efficiently, so that it will be on par with other big brands in the global car industry,” he told reporters after visiting Perfect Food Manufacturing Sdn Bhd’s factory at the Kelemak Industrial Area here yesterday.
He said the government was merely encouraging Proton to seek a foreign strategic partner to boost its capabilities in order to remain competitive in the international market.
“Proton is free to choose a foreign strategic partner which can offer the highest potential, either from the US, Japan, China or Europe.”
Ong said Proton was in the midst of identifying the right partner and would announce the partnership and the merging of its plants in Tanjung Malim, Perak and Shah Alam, Selangor, simultaneously.
“The government will not make the announcement on Proton’s behalf, and I ask everyone to be patient.
“We hope that after this, Proton will be able to develop a motor vehicle hub which can boost Malaysia’s capability to make high-quality national cars which can penetrate the international market, especially in Asean countries,” Ong said.