PROTON FSP DECISION WITHIN FIRST HALF 2017
DRB-HICOM Berhad (DRB-HICOM) hopes that the public will not be misled by various reports that we have already selected a foreign strategic partner (FSP) for our wholly-owned carmaker, PROTON Holdings Berhad (PROTON). At present, we are focussed on going through the critical process of identifying the ideal FSP for PROTON, and an announcement of the decision will be made in due course.
There have been many reports that have suggested that DRB-HICOM’s search for a FSP will be finalised by today, 15 February. We wish to reaffirm that as we have stated previously, we will conclude and announce our decision within the first half of this year. We will however endeavour to complete as early as possible.
We have also stated previously that this search is complex and thus, a time-consuming process. Upon receipt of the bids, DRB-HICOM will start detailed negotiations with the bidders to ensure the key considerations we 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.
We urge the public to not be misled by reports related to the FSP search. DRB-HICOM will make the proper announcement once this process is completed.