Peugeot one of three firms indicating interest in deal with Proton

Kuala Lumpur

AT least three firms including Peugeot maker PSA have signalled interest in a deal with ailing Malaysian carmaker Proton, people familiar with the matter said, as the faded brand's owner seeks to sell a stake in a company once seen as a symbol of the country's drive to industrialise.

The search by Malaysian conglomerate DRB-Hicom is the latest in a long series of efforts to find a partner to help revive Proton after years of profit being hit by sub-par cars, poor after-sales service and tough competition. The government gave Proton RM1.5 billion (S$496.4 million) in financial aid in April.