Malaysia’s biggest car maker, Proton Bhd, has formed a partnership with the country’s second-biggest lender to offer car loans to its customers, according to Reuters.
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Proton and Commerce Asset-Holding Bhd will invest 250 million ringgit ($US65.8 million) in a new company called Proton Commerce Sdn Bhd, Proton told the stock exchange in a statement cited by the news agency.
The venture will start operating early next year, Proton said in a separate media release, according to Reuters, which added that sales of Proton cars fell 27% in the firm’s first quarter to end-June from a year earlier, which analysts said was partly due to a lack of new models compared with foreign competitors.
