Wednesday , January 20 2021

Proton RM1.88b to get financing from the China Construction Bank

Proton, a Malaysian automobile manufacturer, has guaranteed RM 88.8 million (US $ 455 million) to finance the expansion of the region in China Construction Bank's banking facilities.

Loans are assigned to Proton growth plans to make Malaysian automotive a leading brand and three times in Asean in 2027, the company said.

"Expanding to foreign markets is crucial for sales growth. Financing makes it possible for companies to invest in a large number of protocols that need to be automatically globally global," Syed Faisal Albar (president)Top photo) said in the statement.

Zhejiang Geely Holding Group Co., Ltd, owned by Proton, 49.9%, decided in August to extend its existing cooperation with automobile car renewal and expand its presence in China and other international markets.

Proton also exchanged documents with Pakistani Alhaj Automobile, in Beijing, when Prime Minister Mahathir Mohamad participated in the Black and Road Forum.

Proton signed an agreement with Alhaj for licensing and technical support to build a factory in Karachi with an initial investment of $ 30 million to assemble and distribute Proton cars in the Pakistani market.


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