KUALA LUMPUR, June 8 (Bernama) -- Proton Holdings Bhd reiterated today that its wholly-owned Lotus Group International Ltd is not for sale at this point in time.

The national car maker said Lotus would continue to be a strategic entity within Proton and its technology catalyst.

Proton said this in a filing to Bursa Malaysia in response to a news report of a proposed 40 per cent sale in Lotus' stake to its management team.

It said that it had over the years received several unsolicited offers for a stake in Lotus and had taken cognisance of such offers.

However, as a pro-active business entity, it said Proton would continue to initiate and consider viable business opportunities and arrangements which would benefit and add value to the group's interests.

Proton would make relevant announcements at an appropriate time, the statement added.