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Friday, March 24, 2017

PRESS RELEASE: Proton Search For Foreign Strategic Partners (FSP) Still Ongoing To All Bidders!!

DRB-HICOM Berhad (DRB-HICOM) wishes to state that the search for a foreign strategic partner (FSP) for PROTON Holdings Bhd (PROTON) is on-going and that, as we stated in February, we aim to complete the process by the end of the second quarter 2017.

We also confirm that all bidders are still in the running, and we are now evaluating these bids. We have also stated that the process is a complex one, and DRB-HICOM intends to ensure that the chosen FSP will result in a win-win situation for all parties. The nature of negotiations is such that each party will look to secure the most beneficial deal that aligns with their own plans. It is a common process of negotiations that the bar is raised and lowered throughout the process, depending on what is put on the table. 

DRB-HICOM intends to see through the evaluation process and bring on-board a FSP that is able to both improve PROTON’s future and benefit from PROTON’s owns strengths and capabilities. We will make the announcement as soon as this process is completed.

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