DRB Hicom Yet To Endorse Anybody As Proton CEO, Says MD
KUALA LUMPUR, Feb 9 (Bernama) -- DRB Hicom Bhd
Group Managing Director Datuk Seri Mohd Khamil Jamil has quashed
speculation that a new chief executive officer (CEO) has been endorsed
to head Proton Holdings Bhd.
"I've got in my mind the formation of the new management (for Proton)
but for the time being I can't revealed because I've got no access," he
Hence, Mohd Khamil said he was surprised when a certain name was
highlighted through the media as the person to be appointed as CEO and
had been endorsed by DRB Hicom.
"I'm not endorsing anybody as CEO yet," he told reporters at the signing
of an international collaborative agreement between Liverpool John
Moores University and International College of Automotive here today.
Last month, DRB Hicom announced a proposed acquisition of 42.74 per cent
equity interest in Proton from Khazanah Nasional Bhd for RM1.3 billion
cash and a mandatory general offer for the remaining Proton shares for
RM5.50 a piece.
Mohd Khamil said he had yet to see Proton management officially to discuss the future of the national car manufacturer.
He said DRB Hicom would need to complete the acquisition process before going into the details in terms of its future direction.
Asked whether the shareholders would respond positively to the deal, Mohd Khamil said they have been accommodative.
"They've expressed their support to our decision to take over Proton and
I hope they would also endorse and agree with our decision at the
upcoming extraordinary general meeting," he said.
On whether DRB-Hicom would dispose Proton's loss-making unit, Lotus
Group, he said, the company needs to have access and has to look at
Lotus because it was one of Proton's important element.
"We've to make calculations and make an evaluated decision," he said,
adding that he could not dispose Lotus Group without knowing the details
of what Lotus was all about and how it could fit into DRB-Hicom's
On DRB-Hicom's plans for Proton's under-capacity Tanjung Malim plant,
Mohd Khamil said there must be a rasionalisation instead of
"It's easy to maximise the capacity like how we did at our automotive plant in Pekan, Pahang.
"But as a car manufacturer, we must not only look into maximising
capacity, but also look at production and manufacturing cars to fit
proton's DNA," he added.