GST, HVGT, could resurface as part of Budget 2025 alongside RON95 rationalisation, says RHB analyst. Are we ready?
Home News Auto News Geely Reportedly Buying Proton Off DRB-Hicom Geely Reportedly Buying Proton Off DRB-Hicom Auto News Eric | May 24, 2017 12:23 pm A report from Reuters has mentioned that Geely will reportedly be taking over Proton from DRB-Hicom, beating out rival PSA Group. The company will reportedly acquire a 49% stake in Proton.Earlier, DRB-Hicom requested for the trading of its shares to be suspended pending an announcement. The company's spokesperson could not be reached after office hours.Elsewhere, Proton has reportedly requested for more financial aid from the government. The amount requested is said to be at RM1.7 billion, for supporting its operation costs and poor sales. However, a report from The Edge said that the company will not be utilizing all the financial aid at one go. Instead, according to sources familiar with the matter, Proton will be using the funds as needed while its parent company, DRB-Hicom secures a deal for the foreign strategic partner. On top of that, the new loan will be used to repay vendors and other creditors.Sources familiar with the bidding process added that Geely hopes to improve Proton's presence overseas, on top of improving Proton's overall sales, with the help of Geely's own technology. Related: Geely – Fridge-maker To Car-maker In Just 12 Years, Who Are They? ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags FSP Geely Proton Print Related News Geely Back In Talks With Proton? Auto News Eric | April 11, 2017 Proton's search for a foreign strategic partner has taken an interesting turn, as a report from The Edge mentioned that Geely is now back in ... Confirmed: Geely Acquires 49.9 Percent Stake In Proton Plus 51 Percent Of Lotus Auto News Kon | May 24, 2017 Following months of speculation, DRB-Hicom Bhd and Zhejiang Geely Holding Group have come to an agreement that sees the Chinese carmaker acquiring ... Proton Receives More Government Aid – RM1.7 Billion More Auto News Arvind | May 23, 2017 Proton has reportedly been granted further aid from the government, this time amounting to RM1.7 billion, which will be used to support the national ... Proton Says Evaluation Ongoing For FSP Bidders Auto News Eric | March 24, 2017 DRB-Hicom Berhad has released a statement stating that the search for Proton's foreign strategic partner (FSP) is ongoing. The company added that ... Comments
Geely Reportedly Buying Proton Off DRB-Hicom Auto News Eric | May 24, 2017 12:23 pm A report from Reuters has mentioned that Geely will reportedly be taking over Proton from DRB-Hicom, beating out rival PSA Group. The company will reportedly acquire a 49% stake in Proton.Earlier, DRB-Hicom requested for the trading of its shares to be suspended pending an announcement. The company's spokesperson could not be reached after office hours.Elsewhere, Proton has reportedly requested for more financial aid from the government. The amount requested is said to be at RM1.7 billion, for supporting its operation costs and poor sales. However, a report from The Edge said that the company will not be utilizing all the financial aid at one go. Instead, according to sources familiar with the matter, Proton will be using the funds as needed while its parent company, DRB-Hicom secures a deal for the foreign strategic partner. On top of that, the new loan will be used to repay vendors and other creditors.Sources familiar with the bidding process added that Geely hopes to improve Proton's presence overseas, on top of improving Proton's overall sales, with the help of Geely's own technology. Related: Geely – Fridge-maker To Car-maker In Just 12 Years, Who Are They? ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags FSP Geely Proton
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
Geely Back In Talks With Proton? Auto News Eric | April 11, 2017 Proton's search for a foreign strategic partner has taken an interesting turn, as a report from The Edge mentioned that Geely is now back in ...
Confirmed: Geely Acquires 49.9 Percent Stake In Proton Plus 51 Percent Of Lotus Auto News Kon | May 24, 2017 Following months of speculation, DRB-Hicom Bhd and Zhejiang Geely Holding Group have come to an agreement that sees the Chinese carmaker acquiring ...
Proton Receives More Government Aid – RM1.7 Billion More Auto News Arvind | May 23, 2017 Proton has reportedly been granted further aid from the government, this time amounting to RM1.7 billion, which will be used to support the national ...
Proton Says Evaluation Ongoing For FSP Bidders Auto News Eric | March 24, 2017 DRB-Hicom Berhad has released a statement stating that the search for Proton's foreign strategic partner (FSP) is ongoing. The company added that ...