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Pua wants Proton shareholders to guarantee RM1.5b soft loan

Published:  |  Modified:

DAP lawmaker Tony Pua is of the opinion that the RM1.5 billion soft loan to Proton must be recalled unless the company's shareholders can jointly and severally guarantee the loan.

Pua said this was the only way to ensure that the government is "protected" and that Malaysians can be assured that Proton would not end up in their unwitting hands again.

"The only way [...] is to elicit a joint and several guarantee from both shareholders of Proton - DRB-Hicom and Geely (Automobile Holding Ltd). This will be nothing less than what any commercial bank would demand from Proton.

"We hope that the Ministry of Finance can provide an official undertaking to concerned Malaysians that such a shareholders guarantee for the RM1.5 billion soft loan, or whatever outstanding amounts, will be secured before Geely’s 49.9 percent acquisition of Proton can be officially completed," said Pua in a statement today...

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