DRB-Hicom Bhd will undertake a thorough review of the operations of Lotus Group before making any decision, said group managing director Mohd Khamil Jamil.

“After this, we will be in a position to evaluate the situation in Lotus to take a further step - whether it will remain in the stable or be disposed of,” he said after the company’s extraordinary general meeting (EGM) to get shareholders' nod for its purchase of 42.74 percent stake in Proton Holdings Bhd.

Mohd Khamil said today’s EGM had provided a platform for the company to conduct a thorough review of the operations of Proton, including Lotus.

“To-date, we have not been informed 100 percent of Lotus, in the sense of status and condition.

“The option is a well-known open secret. It is either we have to beef it up and get it to work and perform as what have been promised or we have to face the consequences.

“There could be a change of management or style in approach or it could also be disposed of but that depends on the outcome of the review,” he said.

Mohd Khamil said DRB-Hicom was open on the matter and wanted the best for Proton.

“Any decision taken will be endorsed by the board of DRB-Hicom and Proton will have to look into the bigger picture rather than at one single entity,” he said.

According to him, there had been speculations on Lotus and DRB-Hicom has to be fair to Proton and Lotus in ensuring that was done would be in accordance with the plan that had been approved by the board.

“We have to see whether the transformation plan for Lotus that was initiated in 2010 is fruitful.

“If it is not, what went wrong and what are the issues and whether DRB-Hicom, as the new owner, would be able to assist them.

‘Many options about Lotus’

“I’m not saying we are going to sell (Lotus). There are many options we can accelerate the growth or we can change the management or strengthen it.

“This also include disposal, partly or wholly. However, it does not mean that I’m going to take any of that until we able to evaluate Lotus. I’m concerned about Lotus," he said.

Mohd Khamil said DRB-Hicom’s transformation plan for Proton would also have to take into consideration that of Proton’s.

“Whatever transformation plan we have, will have to take into account what Proton has on the table because it also got its own transformation plan. I do not want to go in and frustrate whatever plans that Proton may have.

“We have our own plan as well. It (Proton) should adopt the culture of DRB-Hicom. We’ll go in, we’ll review and talk to the management.

“We’ll talk to the employees and reassure them on moving forward and work together with the management of Proton,” he said.

- Bernama