Owner of Malaysia's Proton shortlists 5 bids for equity sale

September 28, 2016 12:21 PM

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KUALA LUMPUR, Malaysia – The owner of Malaysian national carmaker Proton says it has shortlisted five foreign partners for a partnership that includes an equity sale aimed at reviving the loss-making company.

Syed Faisal Albar Syed Ali Rethza Albar, managing director of conglomerate DRB-Hicom, says it will remain a "substantial" shareholder of Proton but doesn't rule out selling a majority stake.

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