Malaysia's DRB-Hicom Reaffirms Need For Detailed Evaluation Of Bids From Global Carmakers

KUALA LUMPUR, March 28 (Bernama) -- Malaysia's DRB-Hicom Bhd (DRB-HICOM) on Tuesday reaffirmed that the search for Proton Holdings Bhd's foreign strategic partner (FSP) required a detailed evaluation of all bids received from global carmakers. Group Managing Director, Syed Faisal Albar said the FSP would be key to turning around Proton and making it a competitive carmaker. "Our intent is to turn around the fortunes of Proton. "There are strengths and capabilities of the carmaker that, given a new proven partner that can offer technology, capabilities and new markets, will push Proton as a brand to be reckoned with. "That is why our evaluation of the bidders needs to be a detailed one," he said in a statement Tuesday. He said Proton and the incoming FSP must be able to create synergies that would ensure the success of this venture. Syed Faisal also reaffirmed the group's statement last Friday that all bidders were still in the running to be selected as Proton's FSP. "I can confirm that all parties that submitted bids for PROTON are still in the running and DRB-Hicom is still evaluating these bids. "We are going through the tail-end of this meticulous process, and we are looking forward to complete this search by the end of the first half of this year," he added. -- BERNAMA