DRB-Hicom hopes that the public will not be misled by various reports that the company has already selected a foreign strategic partner (FSP) for Proton. At present, DRB-Hicom is focused on going through the critical process of identifying the ideal FSP for the national automaker, and an announcement of the decision will be made in due course.
There have been many reports that have suggested that DRB-Hicom’s search for a FSP will be finalised by today, 15 February. The company wishes to reaffirm that as stated previously, it will conclude and announce the decision within the first half of this year. The company will however endeavour to complete the deal as early as possible.
DRB-Hicom has also stated previously that the search is complex and thus, a time-consuming process. Upon receipt of the bids, the company will start detailed negotiations with the bidders to ensure the key considerations stated previously are met by the potential FSP; these are the strategic, operational and culture fit.
DRB-Hicom will then start the process for internal approvals, including convening a shareholders’ meeting; as well as obtaining the necessary regulatory approvals and clearance that will pave the way for the selected FSP to acquire shares in Proton
The company urges the public to not be misled by reports related to the FSP search. It will make the proper announcement once the process is completed.
