'Proton needs foreign partner'

KUALA LUMPUR: Proton Holdings Bhd, which ended talks with Volkswagen AG last year, needs a foreign partnership to be more competitive in the automotive market, said Minister of International Trade and Industry Tan Sri Muhyiddin Yassin. "I still believe that this (foreign partnership) is an idea which Proton has to explore. "I don't think that we need to be too nationalistic in the sense of supporting Proton without taking into consideration what the business is all about," he said after delivering a keynote address at the Malaysia-China Business Council's annual general meeting here yesterday. Muhyiddin said the automotive market was very competitive and the partnership may help Proton broaden its business in overseas markets. "If they want to move out, they have to be more competitive, they have to produce a good quality car... [read full story]