The ministry said the selection of a strategic partner is an important factor in the company
PUTRAJAYA: The government will reimburse Proton Holdings Bhd RM1.1bil as a grant for money spent on research and development (R&D) in the past, says Second Finance Minister Datuk Seri Johari Abdul Ghani.
He said on Wednesday that Proton had spent RM3.5bil in the past on R&D.
Johari also said there would be no more "subsidy" for Proton from now on.
Proton, founded in 1983 by former Malaysian premier Tun Dr Mahathir Mohamad, received RM1.5bil in government aid last year on condition that it pursue a turnaround plan and seek a foreign partner.
Other potential bidders have included PSA, the Paris-based maker of Peugeot and Citroen cars, its domestic rival Renault and Japan's Suzuki Motor Corp.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
