Government to grant RM1.5bil soft loan to Proton

DRB-Hicom Bhd, which owns Proton, said in a filing with Bursa Malaysia that the latest proposed redeemable convertible cumulative preference shares (RCCPS) to be subscribed by Minister of Finance Inc

PETALING JAYA: The Government will grant Proton a RM1.5bil soft loan, which comes with several conditions attached to ensure the national carmaker is competitive, even at an international level.

"This loan is mainly to enable Proton to make payments to vendors that supply components to it," International Trade and Industry Minister Datuk Seri Mustapa Mohamed said in a statement.