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Tuesday 2 November 9:03 PM
Malaysia Proton: VW Models Ready Soon For Asean Sale(MORE) Dow Jones Newswires November 02, 2004 04:46 ET (09:46 GMT) DJ Malaysia Proton: VW Models Ready Soon For Asean Sale KUALA LUMPUR (Dow Jones)--Malaysian carmaker Proton Holdings Bhd. (5304.KU) Tuesday clarified that the two Volkswagen models it will assemble under a recently-signed deal will carry enough local content to be sold under the region's free trade area agreement. The Association of Southeast Asian Nations free trade agreement stipulates that items sold under the trade regime must carry at least 40% local content. "It is also the intention to quickly localize and make these vehicles eligible for qualification of Asean content for re-exports to Asean countries," Proton said in a statement. The company also said Volkswagen AG (VOW.XE) "will be assisting Proton to reach quickly the VW quality standards" in assembling the two models. (MORE) Dow Jones Newswires November 02, 2004 05:03 ET (10:03 GMT)
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