PROTON has just reiterated that their new holding company – DRB-HICOM Bhd, will not be selling Lotus, which is a wholly-owned subsidiary of PROTON, due to a number of recent media enquiries as well as speculation that have been based upon (as PROTON would put it) “unreliable sources” about the intent on putting Lotus up for sale.
As Mr Bahar has been officially side-lined pending an inquiry, Dato’ Lukman Ibrahim, Mr Mohd Khalid Yusof and Mr Aslam Farikullah (representatives of Lotus’ parent companies) have been authorised by Group Lotus PLC’s board to handle and conduct the day-to-day management and affairs of the Lotus Group. They will be assisted by Mr Rusman Zaihan. They have been authorised to take up these duties during the suspension period.
According to Executive Chairman of PROTON Dato’ Sri Haji Mohd Khamil Jamil, “We acknowledge that Lotus can provide value to PROTON. Lotus is an iconic brand with global presence and positioning, coupled with unsurpassed engineering expertise and a talented workforce.”
Earlier this month, Dato’ Sri Haji Mohd Khamil visited Lotus facilities at Hethel in Norfolk, UK. In conjunction with the visit, Dato’ Sri Haji Mohd Khamil also had constructive meetings with South Norfolk MP Mr Richard Bacon and British Business Secretary, Mr Vince Cable. Commenting on the meetings, Dato’ Sri Haji Mohd Khamil said, “They were both very supportive of our views and developments with regard to the future plans for Lotus. And subsequent to the meetings, the British Government has agreed to consider reactivating the £10 million Regional Growth Fund pledge to support Lotus’s vehicle development plans in Norfolk.”
According to Dato’ Sri Haji Mohd Khamil, “Both PROTON and DRB-HICOM will continue to review the existing business plans and financial position of Lotus in taking Lotus forward in the immediate- to medium-term. DRB-HICOM has sent in a team comprising local and international consultants to Lotus from March 2012 to conduct an operations and legal audit on Lotus group of companies.”
The need for this review is especially pertinent in light of the existing financial obligation of Lotus in the form of a £270 million syndicated loan taken at the end of 2010, for which PROTON has given its corporate guarantee.
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05-29-2012, 08:54 PM
Re: PROTON Says DRB-HICOM Not Selling Lotus!
