DRB-Hicom

[winston]

vested

DRB-Hicom, Geely sign deal on auto high-tech valley in Perak

This high-tech valley is expected to attract RM32 billion in investments, including by Proton Holdings Bhd, over the next 10 years.

Will occupy 404ha and will be expanded accordingly to cater to future needs.

Source: Bernama

https://www.freemalaysiatoday.com/categ ... ung-malim/

[winston]

vested

DRB-Hicom says RM32b investment planned for Automotive High-Tech Valley not solely from group and Geely

“Proton’s plan to fully relocate its manufacturing facilities to Tanjong Malim by 2026 will also create a vibrant new city, boosting the domestic economy by attracting retail establishments to set up shops in the area," it said.

Source: Bernama

https://www.theedgemarkets.com/node/662525

[winston]

vested

PIBB keeps ‘outperform’ call on DRB-Hicom on deal with Geely

by Sufi Muhamad

Public Investment Bank Bhd (PIBB) maintained its “outperform” call on DRB-Hicom Bhd with an unchanged target price (TP) of RM2.10.

Source: theedgemarkets.com

https://www.theedgemarkets.com/node/662708

[winston]

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DRB-Hicom reverses into RM108m net profit for 1Q on higher automotive earnings

By Anis Hazim

DRB-Hicom Bhd registered a net profit of RM107.91 million in the first quarter ended March 31, 2023 (1QFY2023), compared with a net loss of RM25.74 million a year ago, driven by higher earnings from its automotive sector.

Quarterly revenue rose 33.69% to RM4.10 billion from RM3.07 billion on the back of the improved performance of the group’s automotive and banking sectors.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/668762

[winston]

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DRB-Hicom returns to black in 1Q with RM107.91mil net profit

Source: The Star

https://www.thestar.com.my/business/bus ... net-profit

[winston]

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DRB-Hicom disposes 60% stake in AVEE Global

DRB-Hicom Bhd is disposing of its 60% equity interest in Advance Vehicle Engineering Global Sdn Bhd (AVEE Global) to AAPICO Hitech Public Co Ltd for RM40.7mil.

With the completion of the proposed disposal, DRB-Hicom will effectively hold 20.04% equity interest in AVEE Global and hence, AVEE Global will cease to be an indirect subsidiary company of DRB-Hicom Group.

Source: The Star

https://www.thestar.com.my/business/bus ... vee-global

[winston]

vested

Malaysian PM Says Geely Will Invest USD10B to Turn Tanjung Malim into Automaking Centre

In a foreign media report, Malaysian Prime Minister Anwar Ibrahim said Geely will invest USD10 billion to establish Tanjung Malim in Perak, Malaysia, as a major automobile manufacturing centre.

Anwar said the investment would create thousands of jobs in Malaysia, helping to ensure the country's economic growth and employment opportunities for young people.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN