Government to grant RM1.5bil soft loan to Proton


DRB-Hicom Bhd, which owns Proton, said in a filing with Bursa Malaysia that the latest proposed redeemable convertible cumulative preference shares (RCCPS) to be subscribed by Minister of Finance Inc

PETALING JAYA: The Government will grant Proton a RM1.5bil soft loan, which comes with several conditions attached to ensure the national carmaker is competitive, even at an international level.

"This loan is mainly to enable Proton to make payments to vendors that supply components to it," International Trade and Industry Minister Datuk Seri Mustapa Mohamed said in a statement.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Nation

Kelantan to update conditions for cinemas in the state
Tenggara Bersatu division chief, committee members exit party
Tragic end for woman during Deepavali picnic at Sungai Sedim
Ukraine sees Malaysia as Asean gateway for UAV partnerships
Eight missing after fishing trip found safe in Sarawak, says cop
Customs Department denies that DG Anis Rizana misused allocation for vacation
Malaysian Media Council needs to be established immediately
Eighteen-year-old dies after electrocution on express bus in Butterworth
Lowest starting salary on SPA website to be updated in December
Stricter laws to tackle cyberbullying be tabled at the coming Parliament sitting

Others Also Read