Malaysia's Proton to spend more on R&D in FY2005

Newswire

KUALA LUMPUR, Sept 29 (Reuters) - Malaysia's Proton Holdings Bhd said on Wednesday its research and development expenditure in the financial year to end-March 2005 is expected to be 10 percent more than the 543 million ringgit ($143 million) it spent in the previous year. Proton, Malaysia's leading car maker, expects to sell over 200,000 cars in the current financial year, its chief executive officer, Tengku Mahaleel Tengku Ariff, told reporters.

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