Proton Holdings Bhd has denied recent rumours that it may be looking to sell a stake in loss-making subsidiary Group Lotus to Luxembourg-based Genii Capital, saying the claims are untrue and highly speculative.

"Proton's relationship with Group Lotus is as good as it has ever been.

NONE "Through this positive synergy, our priority now is to ensure that the Lotus business turnaround plan is executed according to schedule and that both parties are committed to its success," Proton said in a statement today.

Proton said it and Lotus have reached a juncture whereby the market is eagerly waiting for Lotus' new products "and all our energy and efforts have to be channeled towards achieving this critical goal."

It added that Lotus' involvement in F1 as title sponsor to the Lotus-Renault GP team is to create dynamic marketing and branding synergies.

- Bernama