Here are some due updates on the few companies that might end up as a new stakeholder in Proton, as well as have a controlling stake in it’s manufacturing arm.

Mofaz

Mofaz has teamed up with a foreign technical partner in it’s bid for a stake in Proton Holdings Bhd. This proposal was submitted three months ago, but the foreign partner in question was not named. Mofaz intends to help turn Proton around, and stresses this is more important than owning a stake in it. How do have the power to turn Proton around without having a controlling stake in Proton, I don’t know. Apparently Mofaz has it’s own way of influencing Proton’s management without a stake?!

Sime Darby

No firm acknowledgement of the intention to buy shares so far. Sime Darby itself has had it’s shares suspended to be merged with Kumpulan Guthrie, and Golden Hope.


Naza

Naza, being a private company, has no Bursa Malaysia sending them queries to explain news so they’ve been quiet about this for quite sometime. But Tan Sri SM Nasimuddin SM Amin finally let the bird out of the cage at the launch of Naza’s new 3S facility at Juru. A letter of intent has been submitted two months ago to the government on the matter of the Naza Group acquiring a stake in Proton Holdings Bhd. Naza believes it can bring the company to greater heights.

DRB-HICOM

DRB-HICOM explained to the media yesterday the rationale behind it’s proposal to the government to purchase Proton shares owned by Khazanah Nasional. The proposal was on a preliminary level, and submitted a few weeks ago on its own initiative without an invitation from the govenrment, was yet to receive a response from the Government.

DRB-HICOM used to own more than 27% of Proton before selling that stake to Petronas in the year 2000. Now, Petronas owns 7%, while other majority shareholders are Khazanah Nasional which owns 43%, while the EPF owns 12%. Khazanah Nasional’s 43% is actually over the limit that Bursa Malaysia has set for shareholding, but being the government investment arm and all, an exception was made until Khazanah can find someone to buy off the excess shares.

Volkswagen

No word from Volkswagen themselves, but our government has confirmed it is in talks with Volkswagen again, with the possibility of a controlling stake purchase, which is what Volkswagen wanted but was denied before talks broke down some time ago.

PSA Peugeot Citroen

PSA’s technical team is in town to conduct feasibility studies in the areas of collaboration highlighted in the previous MoU signed. However, Proton says it is not aware of any intentions by PSA to take up a stake in Proton, while officials from PSA itself has mentioned that there are no intentions to take up a stake, merely to partner up for doing business together in the region. Since PSA Peugeot Citroen already has a preexisting partnership with the Naza Group, there seems to be some form of “tag team” of local and foreign partners in place here with Naza and PSA. If not so, then PSA’s collaboration with Proton could be for the Citroen brand instead - remember PSA Peugeot Citroen doesn’t necessarily mean Peugeot!