KUALA LUMPUR -- Malaysian state-controlled carmaker Proton Holdings Bhd (PROT.KL> will launch its new executive-class sedan next month, state news agency Bernama said, citing Proton chairman Azlan Hashim.
The sedan, named the Chancellor, will be launched on Dec. 15, Proton chairman Azlan Hashim was cited as saying by Bernama.
The Chancellor, built on its existing "Waja" sedan platform is designed to be a chauffeur-driven vehicle aimed at high-ranking government officers and senior corporate executives, Bernama said.
Proton shares have slumped 14 percent this year, as concern mounts over cheaper Japanese and Korean rivals that are eating into Proton's domestic market share. The benchmark Kuala Lumpur Composite Index is barely changed in the period.