Proton divests 60% stake in auto parts subsidiary to Aapico Hitech

Proton Holdings Bhd divested a 60% stake in Advanced Vehicle Engineering Global Sdn Bhd to Aapico Hitech PCL for RM41 million. The joint venture, renamed Aapico Avee Sdn Bhd, will receive up to RM140 million in fresh capital through 2024 for expansion.

“For the expansion, we have a very aggressive expansion plan as demanded by Proton, we share 60:40, if we put 60%, Proton has to put 40%, that will be the way forward.”theedgemalaysia.com

• 1 source
• theedgemalaysia.comProton's 60:40 JV with Thai-based Aapico to get RM140m investment by 2024Sep 6, 2026

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