Proton vendors sign agreement with foreign vendors


DRB-Hicom Bhd , which is the parent company of Proton Holdings Bhd, was up two sen to RM2.25 following the announcement.

KUALA LUMPUR: Proton Holdings Bhd (Proton) vendors have inked collaborative agreements with foreign vendors that will see an initial investment of RM47mil into Malaysia. 

The collaborative agreements, which was inked at the Matrade Exhibition and Convention Centre today, will range from technical agreements and joint ventures to 100% foreign direct investments with foreign vendors investing into the Malaysian economy. 

Apart from investments in facilities and technology, the collaborations are expected to create approximately 450 new jobs in the automotive industry, ranging from assembly to design engineering that requires highly skilled workers. 

The vendors will supply parts to Proton’s manufacturing facility in Tanjung Malim, which is currently undergoing plant expansion initiatives at a cost of RM1.2bil. 

Meanwhile, following on from its official launch on Dec 12, 2018, bookings for the Proton X70 has exceeded 15,000 units, with over 2,000 units delivered so far.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Proton

   

Next In Business News

Foreign investors remain in selling mode on Bursa Malaysia
US Customs lifts import ban on Malaysia’s Brightway gloves
Singapore keeps monetary policy unchanged as growth picks up pace in Q3
Singapore Q3 GDP up 4.1% y/y, preliminary data shows
FBM KLCI surges in early trade on pre-budget rally
Ringgit rises against US dollar on Budget 2025 outlook
Trading ideas: WMG, Glostrext, Fajarbaru, Gadang, Sunway REIT, Pharmaniaga
Jobless rate to improve
A taxing issue
Sarawak Plantation’s innovation a game-changer

Others Also Read