'Perodua eyes pact with Toyota'

Mon, 17 Mar 2003 | Source: AGENCIES

KUALA LUMPUR: Malaysia's second national carmaker Perodua is eying an assembling pact with Japan's Toyota Motor Co. in a bid to strengthen its foothold ahead of market opening in 2005, a report said on Saturday.

Japanese minicar maker Daihatsu Motor Co. Ltd., which is a subsidiary of Toyota, owns 51 percent stake in Perusahaan Otomobil Kedua Sdn. Bhd. (Perodua).

"Perodua is manufactured by Daihatsu, which in turn is owned by Toyota. So it is a natural progression," an industry source told The Star, saying negotiations were underway.

The source said the contract may involve vehicle assembly and painting, targeted to start by middle of next year but only for Toyota vehicles for sale in the domestic market.

Analysts said the contract was likely to involve only a small number of cars, possibly about 10,000 units, as Perodua's factory in Rawang in central Selangor state was running at near full capacity. -- AFP

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