Proton deal will fast-track Geely’s presence

Prized asset: It is said that Geely and PSA are eyeing a 51 stake in Proton’s manufacturing plant in Tanjung Malim which has net book value of RM501mil as of March 2016.

PETALING JAYA: Geely Automobile Holdings Ltd’s interest in national car manufacturer Proton Holdings Bhd is seen as a move by the China-based automaker to fast-track and build its presence in South-East Asia.

However, the company will have its work cut out for it if it succeeds in the bid for Proton.