Proton Holdings Bhd does not need an alliance with Volkswagen AG to survive, Malaysia’s Affin Investment Bank Bhd says in a report. The investment firm believes Proton has seen the worst of its financial and share-price performance and, while a tie-up with VW would be helpful, the national car company should be able to turn around soon on its own. “We have turned more positive on Proton following the new initiatives taken to address its operations: (The) introduction of new models to ...

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