DRB just announced in the BURSA malaysia website that they signed MOU with Volkswagon that they will be building CKD cars for them ^^

dude do some research u will know DRB Hicom currently assembles AUDI OOOO cars, and they are doing fine (means quality good)

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Added on August 13, 2010, 8:10 pm^^

This post has been edited by PureGeek: Aug 13 2010, 08:10 PM

new user, are u first timer in market?, when epf dispose means some other sharks are buying....

EPF queue sell-
Shark buy-up-

the stock can reach RM 3 once they start production for ASEAN market CKD VW... if u have money, put in DRB ^^

HOT NEWS just posted 1 hour ago!

http://www.bernama.com.my/bernama/v5/newsindex.php?id=521283

DRB HICOM may be VW's export base for the entire ASEAN REGION!!!

"...to make the DRB-Hicom production plant here its export base for the Asean region."

I hope so too !! time for accumulate, i hold too little need to buy more

Aug 14 2010, dun say unker didnt share with you ya !

by the way

DRB-HICOM set to seal deal with VW

DRB-HICOM Bhd is scheduled to sign a definitive agreement on December 21 with Volkswagen AG, Europe's largest carmaker, to assemble VW cars in Malaysia.


The cars will be assembled in Pekan, Pahang, for local and Southeast Asian markets.

"Tentatively, it is scheduled for December 21 with the signing ceremony being held either in the KLCC area or at DRB-HICOM's (1619) operational headquarters in Glenmarie, Shah Alam," said the source.

It is understood that DRB-HICOM's top officials from its automotive divisions are currently abroad for the final leg of negotiations with VW.

In August, DRB-HICOM signed a memorandum of understanding with Germany's VW to assemble and manufacture Volkswagen vehicles in Malaysia.
An agreement with VW will help boost business and raise its profile among investors further. Although a big chunk of income comes from stable businesses like Islamic banking, insurance and power plant maintenance and plans to expand its property unit, its share price is still well below its net asset value of over RM2.

DRB-HICOM shares closed 9 per cent higher at RM1.80 yesterday.

In August, it was reported that minority shareholders voiced their displeasure at the company's annual general meeting over the undervalued shares.

As a result, the company said it plans to beef up investor relations (IR) activity.

"I do understand the anxiety of the shareholders and the public ... the current share price does not reflect the actual value of the company, which is actually worth more," group managing director Datuk Seri Mohd Khamil Jamil reportedly said after the AGM.

Yesterday, HwangDBS initiated coverage on DRB-HICOM with a RM3.55 target price.

The research house said DRB-HICOM is the cheapest conglomerate in the country with a net gearing of 0.3 times.

"With efforts to be more investor-friendly now, we expect a significant re-rating from its bargain basement valuation of 5.5 times 2012 financial year's earnings per share," Hwang said in the report.

The research house added that a key catalyst for DRB-HICOM is the conversion of a letter of intent from the Ministry of Defence for 257 AV 8x8 armoured wheeled vehicles, worth about RM8 billion.

Source: http://www.btimes.com.my/Current_News/BTIM...icle/index_html

loss on income for DRB Hicom... sell now buy cheaper later?


Local authorities to take over Alam Flora’s cleaning work
By K.ASHRAF KAMMED
ashkam@thestar.com.my

THE cleaning work that has been carried out by Alam Flora Sdn Bhd will now be taken over by the nine local authorities in Selan-gor.

Mentri Besar Tan Sri Khalid Ibrahim said the state government had decided that Alam Flora would only be in charge of garbage collection, while local authorities would do the cleaning work.

The local authorities will now clean drains, fields and roads, said Khalid after the Selangor state monthly meeting yesterday.

He said this was important because local authorities had been receiving many complaints on cleanliness.
Reducing the load: From now onwards Alam Flora’s sole focus will be on garbage collection in Selangor.

Khalid said the state government was planning to spend about RM200mil for cleaning work.

“The local authorities will have their own workers and if need be they will give out contracts for cleaning projects,” he said.

Khalid said the decision was not due to Alam Flora’s failure to deliver, but he felt that they could not handle everything by themselves.

“If they only focus on garbage collection then it will be easier for us to know what their job specialisation is,” he said.

Khalid said Alam Flora’s role as coordinators by using contractors must be reduced and they had to be directly involved with the tasks given.

“About 10 years ago, all these tasks were done by the local authorities. Now we are reverting to the old way. Alam Flora’s initial role was only to deal with garbage collection and disposal,” he said.

http://thestar.com.my/metro/story.asp?file...772&sec=central

yea, wholly owned