DRB-Hicom posts hefty earnings, boost from auto

 DRB-Hicom Bhd’s first quarter ended June 30, 2014 net profit surged to RM107.83mil from RM10.25mil a year ago.

In a statement to Bursa Malaysia on Thursday, the automotive company’s revenue for the period rose 21.9% to RM3.724bil from RM3.054bil a year ago.

Earnings per share for the period stood at 5.58 sen against 0.53 sen a year earlier.

The national car producer said its improved performance was largely attributed to stronger performance in the automotive and defence, and services sectors, as well as continued improvements in operating efficiencies and cost containment.

Group managing director Tan Sri Mohd Khamil Jamil said that higher recognition of revenue from the defence projects as well as the inclusion of new revenue streams from Composites Technology Research Malaysia Sdn Bhd and Konsortium Logistik Bhd have contributed to the increase in revenue for the quarter.

Moving forward, he said the group is optimistic that it would be able to achieve satisfactory performance for the financial year ending March 31, 2015

DRB-Hicom +1.4%; Open To Options For Proton Unit Lotus

18 Jan 2012 MARKET TALK: DRB-Hicom +1.4%; Open To Options For Proton Unit Lotus


DRB-Hicom (1619.KU) is up 1.4% at MYR2.13 and Proton Holdings (5304.KU) is up 0.2% at MYR5.42.

DRB-Hicom's Group Managing Director Mohd Khamil Jamil says the company intends to keep Proton privately-held  on its buyout is successful.  

 He also says the company is not looking to sell Proton's British sports-car unit Lotus at the moment, but remains "open to options."

 Late Tuesday, DRB-Hicom had said it bought a 7.3% stake in national car maker Proton via the open market at prices ranging between RM5.40 and RM5.47 per share.

Monday, DRB-Hicom agreed to buy a 42.74% stake in Proton for MYR1.291 billion ($413.7 million),

or MYR5.50/share from state investment firm Khazanah Nasional; it also said it will make a general offer for the remaining shares at the same price.

DRB-HICOM Bought 7.3% Of Proton Holdings Via Open Market

17 Jan 2012  DRB-HICOM: Bought 7.3% Of Proton Holdings Via Open Market

KUALA LUMPUR  -Malaysia's DRB-HICOM Bhd. (1619.KU) said Tuesday it bought a 7.3% stake in national car maker Proton Holdings Bhd. (5304.KU) via the open market. The stocks were bought at prices ranging between RM5.40 and RM5.47 per share, according to a DRB-HICOM statement to the stock exchange. On Monday, DRB-HICOM agreed to pay MYR5.50 per share to buy Malaysian government investment holding arm Khazanah Nasional Bhd.'s 42.7% stake in Proton. Local regulations require DRB-HICOM to make a mandatory general offer for the remaining shares in Proton, Khazanah Nasional said in an earlier statement. Under the regulations, an investor purchasing a stake of 33% or more in a company must make a general offer for the remaining shares.