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Malaysia Proton sets '08 R&D budget at 400-500m rgt

KUALA LUMPUR, Jan 18 (Reuters) - Malaysia's state-controlled carmaker Proton Holdings Bhd will spend 400 to 500 million ringgit ($122.5-$153.1 million) on research and development this year, Managing Director Syed Zainal Abidin Syed Mohamed Tahir said on Friday.