In an apparent reference to Geely Automobile Holdings Ltd’s acquisition of a significant stake in Proton Holdings Bhd, Prime Minister Najib Abdul Razak said the answer to whether or not to retain the loss-making company is “obvious”.

“Some people seem to think that it is better to have loss-making companies that are 100 percent Malaysian owned – instead of a smaller percentage in a company that stands to gain access into bigger markets, economies of scale and cutting-edge technology.

“I ask you, which one will create wealth and jobs for Malaysians? The answer is obvious,” Najib said at the opening ceremony of China Construction Bank (Malaysia) Bhd in Kuala Lumpur today...