GENII CAPITAL KEEN TO EXPAND PARTNERSHIP WITH PROTON BEYOND FORMULA ONE

From Jeffri Mohd Rafiee

OXFORDSHIRE, Jan 19 (Bernama) -- Luxembourg-based investment firm, Genii
Capital, is keen to expand its partnership with Proton Holdings Bhd way beyond
Formula One (F1).

Chairman Gerard Lopez said his firm, with interests in various fields, including
green technologies, engine manufacturing and financial services, could also help
facilitate the Malaysian carmaker's possible entry into new markets such as
Russia.

However, discussions between the two parties were still at preliminary stage, he
told Malaysian journalists at Genii Capital's F1 outfit, Lotus Renault GP, in
Enstone here Tuesday.

Group Lotus, a unit of Proton Holdings, is a title sponsor of the F1 team
through to 2017 and it has an option to become an equity partner.

Meanwhile, Proton Holdings Group managing director Syed Zainal Abidin Syed
Mohamed Tahir said Lotus' re-entry into F1 was part of its turnaround plan which
include making better cars for the future and building engineering capability.

Part of the transformation was Lotus' role in motorsports and part of the
elements in motorsports was F1, he said.

"So, it's only about a business decision. It is so happen that Proton is the
shareholder of Lotus and our responsibility is to push and turnaround the
company.

"If you want to sell sports cars, you have to do promotions, which include
advertisements, roadshows and also be involved in motorsports," he said.

He said the investment had already been allocated as part of the year-in and
year-out programmes which are now being channelled more effectively as F1 has
over 1.2 billion viewers worldwide.

"It's not Proton's money but Lotus' marketing and branding. Proton has its own
budget and we will keep to that budget. Lotus has its own expenditure and that
expenditure will be allocated under the turnaround plan.

"We are not adding anymore resources just to be in F1," he added.
-- BERNAMA