KUALA LUMPUR, Oct 22 (Reuters) - Malaysia's biggest car maker, Proton Bhd , said on Wednesday it has formed a partnership with the country's second-biggest lender to offer car loans to its customers.
Perusahaan Otomobil Nasional Bhd (Proton) and Commerce Asset-Holding Bhd will invest 250 million ringgit ($65.8 million) in a new company called Proton Commerce Sdn Bhd, Proton told the stock exchange in a statement.
The venture will start operating early next year, Proton said in a separate media release.
Sales of Proton cars fell 27 percent in the firm's first quarter to end-June from a year earlier, which analysts said was partly due to a lack of new models compared with foreign competitors.
Shares of Proton closed unchanged at 8.05 ringgit while Commerce gained 1.4 percent to 4.26 ringgit. (US$1=3.8 ringgit)