Perodua

Perodua  is Malaysia's largest automobile manufacturer closely followed by Proton. It was established in 1992 and launched their first car, the Perodua Kancil in August 1994. 'M2' refers to the codename which was used when the project to establish Perodua was still top secret. The shareholders of Perodua are UMW Corporation Sdn Bhd with 38% stake, Daihatsu Motor Co. Ltd. (20%), MBM Resources Bhd (20%), PNB Equity Resources Corporation Sdn Bhd (10%), Mitsui & Co. Ltd (7%) and Daihatsu (Malaysia) Sdn Bhd (5%). Initially, Perodua mainly produces minicars and superminis and does not have models in the same market segments as Proton. In recent years, their targeted market segments have started to overlap. Especially in the supercompact segment where the Perodua Myvi has fought off the Proton Savvy and is now competing with the Proton Iriz. Perodua do not design or engineer their main components, such as engine and transmission, in house. Their cars have historically used Daihatsu component designs. Daihatsu held a 20% stake in Perodua at the company's launch, increasing this to 25% in 2001 and then to 35%. In 2004, Perodua started assembling the Toyota Avanza at their plant in Rawang, for sale in Malaysia.