Monday, January 16, 2012

Malaysia to Sell Stake in Proton


Malaysia's state investment firm said it will sell its 43% stake in national car maker Proton Holdings Bhd., the latest in a series of government sales meant to spur growth in the important Southeast Asian economy.

The sale, to Malaysian conglomerate DRB-Hicom Bhd. for 1.29 billion ringgit ($412 million), also could also Proton's competitiveness in a crowded Asian auto market.