Price the key in race for Proton

KUALA LUMPUR: Over the past few weeks, the market has been keeping a close watch on turns of events at Proton Holdings Bhd.

What initially appeared to be a straightforward race to buy Khazanah Nasional Bhd's 42.7 per cent stake in Proton has now become a four-horse race, with any of four parties - DRB-HICOM Bhd, Naza Group, Sime Darby Bhd and shareholders linked to UMW Holdings Bhd - could end up becoming new major owner of the national carmaker.

A look at the potential suitors shows that all four can do good with Proton's business and take the company to the next level

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DRB-HICOM, controlled by reclusive tycoon Tan Sri Syed Mokhtar Al Bukhary, is a conglomerate that has businesses in the automotive, financial, property, hospitality and other industries.

For the year ended March 31 2011, it posted a net profit of RM472.47 million (a marginal improvement), while revenue rose by seven per cent to RM6.8 billion.