KUALA LUMPUR (Nov 17): Proton Holdings Bhd has shortlisted three candidates as it seeks a strategic partner to improve its global competitiveness, International Trade and Industry Deputy Minister Datuk Ahmad Maslan said.

Ahmad said in Parliament today that the Malaysia's national car manufacturer had shortlisted three candidates out of 14 entities for further negotiation on the matter. DRB-Hicom Bhd wholly owns Proton, which is targeting to secure a strategic partner by the first quarter of next year, he said.

"Proton has shortlisted three companies for further negotiation," Ahmad said. 

He was responding to a question on whether Proton had identified its strategic partner, which is a criterion under the Government's loan to Proton.

Ahmad said Proton had earlier issued request for proposals to 14 car manufacturers and subsequently identified five potential strategic partners.

It was earlier reported that global car manufacturers including Japan's Suzuki Motor Corp, besides France-based Renault SA and PSA Group, were interested to be Proton's strategic partner.

Today, Ahmad said the partnership was to secure a renowned carmaker to help Proton in research and development, to ensure its competitiveness at the international level.

At Bursa Malaysia, DRB-Hicom shares settled unchanged at 12:30 p.m. at RM1.22, for a market value of RM2.36 billion. The stock saw 522,200 shares traded.