Malaysia aims to finalise Proton turnaround plan in a year - Minister |
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Fri, 27 Jul 2007 04:48
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KUALA LUMPUR (Thomson Financial) - Malaysia's Second Finance Minister Nor Mohamed Yakcop said Friday the government remains committed to finalising a turnaround plan for ailing national car maker Proton Holdings Bhd within one year.Asked if the government has any timeframe for Proton's turnaround, Nor Mohamed said, 'It depends, certainly within one year ... things (at Proton) are getting improved.''While many government-linked companies have already turned themselves around, we are still facing some challenges at Proton,' he said.The government, via its investment arm Khazanah Nasional Bhd, controls 43 percent of Proton.Khazanah is currently in discussions with German auto maker Volkwagen AG for a possible strategic alliance between Volkswagen AG and Proton.'I am not saying that Proton can be profitable in one year, but we are confident that there will be some progress within a year,' he said.(1 US dollar = 3.42 ringgit)munfoo.hong@thomson.commfh/as/jgas/jgCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Malaysia's Proton, VW still in partnership talks - govt investment agency 