PUTRAJAYA, May 23 — Prime Minister Tun Dr Mahathir Mohamad said the new government does not intend to take over Proton Holdings Berhad.
Stating it is privately owned by DRB-Hicom owner Tan Sri Syed Mokhtar Al-Bukhary, Mahathir today said it is not up to the government to decide on the buy over.
“It is not owned by the government. It belongs to Syed Mokhtar.
“Whether to buy back or not, it depends on him,” he said.
Following the deal between DRB-Hicom and China carmaker Zhejiang Geely Holdings Group in June 2017, Dr Mahathir had at the time said he had never considered selling Proton but was only looking to establish cooperation with international car manufacturer.
Geely, which owns the Volvo car brand, bought a 49.9 per cent of the loss-making Proton for RM460.3 million, with DRB-Hicom holding the majority share of 50.1 per cent.
The deal made by the former government had retained Proton as a national car.
Proton was Dr Mahathir’s brainchild established in 1930, and came under the private ownership of DRB-Hicom group in 2012, but remains as a national carmaker.
