Proton: Govt Support To Catalyse Turnaround Plan

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KUALA LUMPUR, April 9 – Proton Holdings Bhd says government support would catalyse its turnaround plan, including the rolling out of three new models in 2016, starting with the Perdana. The national carmaker is confident of a turnaround with the infusion of new members in management and government assistance will reinforce the confidence of partners towards it.

Proton recently appointed Datuk Ahmad Fuaad Kenali as Chief Executive Officer and he said the company would continue to focus on improving products and services to serve customers better. He said that the company has produced various models in all the segments, either through collaboration with established Original Equipment Manufacturers (OEMs) or its internally developed capability.

He also added in a statement that Proton is also constantly engaging its strategic partners to explore collaborative opportunities to improve products offerings and time to market. The government yesterday approved Proton’s application for a soft loan of RM1.5 billion to help the company pay its vendors for components supplied. Ahmad Fuaad said Proton’s sustainability would inevitably affect the eco-system of the local automotive industry involving vendors, suppliers, dealers, pre-owned vehicle operators and customers.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed in announcing the soft loan said the government would establish a special task force, led by Performance Management and Delivery Unit Chief Executive Datuk Seri Idris Jala, to overlook Proton’s transformation plan and ensure success. He said the task force would comprise six representatives, with three each from the public and private sectors.

“The task force would comprise six representatives, with three each from the public and private sectors. Therefore, we welcome the setting up of the task force and look forward to working closely with them to chart a sustainable growth for Proton,” said Ahmad Fuaad.

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