KUALA LUMPUR: Proton must become less reliant on Malaysian buyers and build up a strong export programme.
Prime Minister Datuk Seri Najib Razak, addressing the future of Proton, said the government's assistance to the national carmaker was subject to conditions, such as the company identifying a strategic foreign partner.
The government in April had approved a RM1.5 billion loan to Proton Holdings to enable the company to pay for components that had been supplied.
The loan, Najib stressed, was not a bailout as it came with strong conditions.
"We stepped in because the well-being of the people is always our first concern. We will never fail to support Malaysian workers and suppliers. We will always fight to ensure that no one is left behind."
The assistance was conditional on Proton meeting stringent standards of professional management going forward; ensuring that the company has a model for long-term sustainability; and immediately identifying a strategic foreign partner.
"The loan was not a blank cheque. The company must prove itself, both in the domestic and the international markets. Ultimately, Proton must build up a strong export programme and become less reliant on Malaysian buyers."
The prime minister was speaking at the launch of the all-new Proton Perdana today.
The Perdana, now in its fourth generation, is developed via a strategic collaboration with Honda Japan Ltd.
It is priced at RM113,888 for the 2.0 variant and RM138,888 for the 2.4 variant.
It has already received around 900 pre-bookings. The company expects to sell around 3,000 units by year-end.