DRB-Hicom buys CTRM from Minister of Finance Inc for RM298m

DRB-Hicom Bhd is buying a controlling 96.87% stake in aerospace component manufacturer Composites Technology Research Malaysia Sdn Bhd (CTRM) from the Minister of Finance Inc (MOF) for RM298.26 million cash.

In a statement to the exchange, DRB-Hicom said the proposed acquisition price comprises RM122.06 million for the stake and RM176.2 million worth of outstanding loan owed by CTRM to the Malaysian government.

Final gross dividend of 0.5 sen per share, less taxation of 25% and
a tax exempt dividend of 4.0 sen per share

EX-date 23/09/2013
Entitlement date 25/09/2013
Payment date 18/10/2013

Overall sell-down by foreign investors?

DRB-Hicom to assemble Tata Motors heavy-duty vehicles

DRB-Hicom Bhd is set to ink a heavy commercial vehicle agreement on Monday with Tata Motors Limited, India's largest automobile manufacturer, after regaining confidence from the latter.

It is understood both parties will collaborate on the assembling and distribution of heavy-duty commercial vehicles like the prime mover Tata Prima and also pick-ups like the Tata Venture.

A source said this would set the platform for both parties to look at further cooperation, as Tata is a long time partner for the automotive conglomerate.

Previously, DRB-Hicom assembled, distributed and sold Tata's commercial vehicles in Malaysia via 70% owned Scott & English (M) Sdn Bhd, before the agreement lapsed in 2008.

Details of the closed-door signing ceremony would be revealed by end of the day.

In 2012, DRB-Hicom has also signed a cooperation agreement to develop, promote and market Tata's military vehicles.

Today (11/9/13) closed at rm2.66, up 2c

Today (19/9/13) closed at RM2.67, up 2c

very greedy, everything wanna "sapu"

KL Airport services bags four new ground handling contracts

KL Airport Services Sdn Bhd (KLAS), a subsidiary of DRB-HICOM Bhd, has bagged four new ground handling services contracts from Hong Kong Express, Xpress Air, Tigerair and Hong Kong Airlines.

Chief Executive Officer Tazhi Borhan said KLAS would ensure smooth ground handling operations for the airlines' customers and passengers' safety.

Hong Kong Express, which flew into Penang for the first time today, has awarded the ground handling services contract including passenger check-in, baggage handling and aircraft handling services at the Penang International Airport in Bayan Lepas.

Tigerair, a leading Singapore-based budget carrier which awarded the contract to KLAS, resumed its flights to Langkawi International Airport on Nov 8, while Xpress Air, which started flying to Kuching from Pontianak on Oct 25, has appointed KLAS as the ground handler.

He said KLAS has also secured a contract from freight carrier, Hong Kong Airlines, whose inaugural flight to Kuala Lumpur International Airport on Nov 10, with a frequency of two flights weekly.

“KLAS’ airline customers are assured of the highest standards of quality and efficiency to be accorded to any foreign airline that chooses to operate in Malaysia,” he added.