Proton to get RM1.88 bil financing from China Construction Bank

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National carmaker obtain loans to fund expansion around the region.

Proton wants to be the No. 1 automotive brand in Malaysia and No. 3 in Asean by 2027.

The loans are earmarked for Proton’s growth plans to be the number one automotive brand in Malaysia and number three in Asean by 2027, the company said in a statement late last night. In August last year, Zhejiang Geely Holding Group Co Ltd, which owns 49.9% of Proton, had agreed to extend its partnership with the carmaker to upgrade its line-up of cars and help expand Proton’s presence in China and other international markets.

Source: Loan News Today (loannewstoday.net)

 

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