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UMW has no plans to acquire Khazanah’s 42.7-per cent stake in automaker Proton

Posted on January 12, 2012, Thursday

SUBANG: UMW Holdings Bhd (UMW) has no plans to acquire Khazanah Nasional’s 42.7 per cent stake in national automaker Proton, saying ‘it has a lot in its hands already’.

Group chairman Tan Sri Asmat Kamaludin said UMW’s focus was on its present commitments, mainly the partnership with Toyota and Perodua.

“I think we’ve already cleared that UMW is not making any bids.

“We at UMW are committed to our partner Toyota in enhancing its business here in Malaysia and making Perodua self-reliant pre- and post-NAP (National Automotive Policy).

“We’ve never made any bids. The reports say that shareholders of UMW have made the bid. I don’t know about that. May be you have to ask them,” he told reporters after the media launch of new Toyota Avanza here yesterday.

Asmat said as far as UMW was concerned, the Proton issue had not been discussed at board level.

“And as far as I know we have no plans to make a bid. — Bernama

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