ID :
15797
Wed, 08/13/2008 - 20:04
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Shortlink :
http://m.oananews.org//node/15797
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GM READY TO RE-START TALKS WITH MALAYSIA`S PROTON By D. Arul Rajoo
RAYONG (Thailand), Aug 13 (Bernama) -- The world's largest car
manufacturer, General Motors Corp (GM), is ready to re-start
negotiations for a tie-up with Malaysian car maker Proton Holdings Bhd after similar talks ended in a stalemate at the end of last year, its president for Southeast Asian operations, Stephen K. Carlisle said here Wednesday.
He said the American company was always open for any opportunities that arose for it to further strengthen its presence in the region.
Carlisle, however, said there was no approach made to engage GM for fresh talks though it was reported that the Malaysian Government was willing to look for strategic alliance for Proton despite last year's failed talks with GM and German car manufacturer Volkswagen.
"If Proton wants to talk, we are ready as we are always interested about collaborating with them," he told reporters after the announcement of a new US$445 million diesel engine plant here by GM Chairman and Chief Executive Officer Rick Wagoner today.
Carlisle said last year's talks could not proceed further as the
Malaysian Government and Proton were looking at their own strategic plan and were confident it was capable of operating on its own without a foreign partner.
Asked if GM had asked for majority stakes in Proton during the talks or the reason for its failure to acquire the Malaysian national carmaker, Carlisle declined to comment.
Khazanah Holdings Bhd, as Proton's major shareholder and the government's investment arm, had said the talks ended as the government took note of Proton's positive developments, including improving sales at both domestic and overseas markets.
"The government is of the view that Proton's management should be allowed to continue with its plans to further strengthen the company," Khazanah said in November last year, adding that the issue of strategic partners could be considered at a later date.
Proton first announced its intention to begin talks with Volkswagen in October 2004 for a strategic partnership while talks were to have started with GM in early 2007.
Carlisle said despite the slump in car sales throughout the world that affected GM's financial standing, it was in a good position to buy stakes in Proton if offered.
"We always see opportunities in the Malaysian and regional markets. So we want to step up our presence here," he said.
A year ago, DRB-HICOM Bhd and General Motors Asia Pacific Holdings LLC (GMAPH) formed HICOM-Chevrolet Sdn Bhd, to strengthen the Chevrolet brand in Malaysia.
DRB-HICOM holds 49 percent in the new company and GMAPH the remainder. The total investment in the joint venture was about RM15 million (US$4.5 million).
manufacturer, General Motors Corp (GM), is ready to re-start
negotiations for a tie-up with Malaysian car maker Proton Holdings Bhd after similar talks ended in a stalemate at the end of last year, its president for Southeast Asian operations, Stephen K. Carlisle said here Wednesday.
He said the American company was always open for any opportunities that arose for it to further strengthen its presence in the region.
Carlisle, however, said there was no approach made to engage GM for fresh talks though it was reported that the Malaysian Government was willing to look for strategic alliance for Proton despite last year's failed talks with GM and German car manufacturer Volkswagen.
"If Proton wants to talk, we are ready as we are always interested about collaborating with them," he told reporters after the announcement of a new US$445 million diesel engine plant here by GM Chairman and Chief Executive Officer Rick Wagoner today.
Carlisle said last year's talks could not proceed further as the
Malaysian Government and Proton were looking at their own strategic plan and were confident it was capable of operating on its own without a foreign partner.
Asked if GM had asked for majority stakes in Proton during the talks or the reason for its failure to acquire the Malaysian national carmaker, Carlisle declined to comment.
Khazanah Holdings Bhd, as Proton's major shareholder and the government's investment arm, had said the talks ended as the government took note of Proton's positive developments, including improving sales at both domestic and overseas markets.
"The government is of the view that Proton's management should be allowed to continue with its plans to further strengthen the company," Khazanah said in November last year, adding that the issue of strategic partners could be considered at a later date.
Proton first announced its intention to begin talks with Volkswagen in October 2004 for a strategic partnership while talks were to have started with GM in early 2007.
Carlisle said despite the slump in car sales throughout the world that affected GM's financial standing, it was in a good position to buy stakes in Proton if offered.
"We always see opportunities in the Malaysian and regional markets. So we want to step up our presence here," he said.
A year ago, DRB-HICOM Bhd and General Motors Asia Pacific Holdings LLC (GMAPH) formed HICOM-Chevrolet Sdn Bhd, to strengthen the Chevrolet brand in Malaysia.
DRB-HICOM holds 49 percent in the new company and GMAPH the remainder. The total investment in the joint venture was about RM15 million (US$4.5 million).
