Proton in talks with foreign big names to sell equity stake: Nikkei

According to Proton, 20% to 30% of the parts in its vehicles are imported

Proton Holdings is negotiating with foreign partners, including some big names, for a stake in co as part of its restructuring, Reuters said quoting Japan's Nikkei

The Nikkei report by CK Tan said: "Successful talks would mean the re-entry of foreign capital along with technology know-how for the first time since January 2005, when Mitsubishi Corp. severed ties with Proton.

"We want a partner with an equity share in Proton," Madani Sahari, chief executive of the Malaysia Automotive Institute, told the Nikkei Asian Review in a recent interview. The institute is an agency under the Ministry of International Trade and Industry to promote the automotive sector.

"There are a couple of interest[s] from global original equipment manufacturers, and it is being reviewed now by Proton," he said. Madani, who is also the secretary of a state task force to revive Proton, suggested that the potential foreign partner would be an automaker with a global brand, the report said. - Nikkei/Reuters

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