Other agencies that are reportedly involved in the current review include Leo Burnett, M&C Saatchi, Milk+Co and Ogilvy & Mather. None of the agencies could be reached for comment.
The review, which happens every two or three years, is thought to be statutory for government-linked firms in the country.
In 2008, McCann Erickson emerged victoriously from a three-month long review of the national carmaker's advertising account. The account was estimated to be worth RM45 million (US$14 million) then.
Last year, Proton launched its first locally made multi purpose vehicle, the highly-anticipated Exora, with a through-the-line drive.
The Malaysian car brand recently reported a return to the black for the financial year ending in March with a profit of 239 million ringgit (US$72 million), from a loss of 302 million ringgit (US$91 million) the previous year.