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drb-hicom bhd (1619) Details

DRB-HICOM Berhad engages in automotive and services; and property, asset, and construction businesses in Malaysia. The company manufactures, assembles, and distributes motorcycles, as well as passenger, commercial, defense, and customized vehicles; provides vehicles and spare parts importation, pre-delivery inspection, composite manufacturing, and vehicle leasing services; and sells related spares and services. It also offers solid waste management; airport ground handling; mail, courier, and retail postal; higher education and vocational training; and Islamic banking and related financial services, as well as integrated logistics and inventory solutions. In addition, the company engages in property holding, development, and construction activities; maintains, markets, and refurbishes military and commercial vehicles; designs and develops aircrafts; produces and markets mission systems equipment; constructs, operates, and maintains infrastructure and broadcast systems; manufactures and sells thermoplastic and setting products, and aerospace and non-aerospace components; trades in mobile receptacles; manufactures and sells dies, molds, and jigs related products; operates shopping malls, hotels, marina and golf resorts, and sanitary landfills; and provides waste treatment and environmental management services. Further, it offers funding, composites testing, property building and leasing, in-flight catering, warehousing, supply chain management, engineering consultancy, emergency roadside vehicle assistance, vehicles servicing, car rental, civil engineering, management, air cargo transport, freight and forwarding, equipment and aircraft leasing, shipping and transport agent, insurance agency, parcel tanker and chartering, and distribution park services, as well as aircraft composites repair, engineering, and maintenance services. The company was founded in 1990 and is based in Shah Alam, Malaysia. DRB-HICOM Berhad is a subsidiary of Etika Strategi Sdn. Bhd.

59,000 Employees
Last Reported Date: 02/28/17
Founded in 1990

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drb-hicom bhd
DRB-HICOM Berhad Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Reports Impairment Charges for the Third Quarter Ended December 31, 2016

DRB-HICOM Berhad reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company's revenue was MYR 3,431,927,000 compared with MYR 3,335,988,000 a year ago. Profit from operations was MYR 471,593,000 compared with loss of MYR 116,423,000 a year ago. Profit before taxation was MYR 422,331,000 compared with loss of MYR 147,148,000 a year ago. Net profit attributable to owners of the company was MYR 352,985,000 or 18.26 sen per basic and diluted share compared with loss of MYR 186,182,000 or 9.63 sen per basic and diluted share a year ago. The better performance in the financial quarter was mainly due to the gain on disposal of a subsidiary company, Corwin Holding Pte. Ltd., first time consolidation of Pos Malaysia financial results and also improved results of certain companies in the automotive sector. Included in the preceding quarter's results was an exceptional loss on re-measurement of previously held equity interest in Pos Malaysia Berhad. For the nine months, the company's revenue was MYR 8,576,738,000 compared with MYR 9,540,165,000 a year ago. Profit from operations was MYR 106,293,000 compared with loss of MYR 25,536,000 a year ago. Profit before taxation was MYR 33,444,000 compared with loss of MYR 77,798,000 a year ago. Net loss attributable to owners of the company was MYR 125,950,000 or 6.51 sen per basic and diluted share compared with loss of MYR 202,003,000 or 10.45 sen per basic and diluted share a year ago. Net cash outflow from operating activities was MYR 811,364,000 compared with MYR 60,585,000 a year ago. Purchase of property, plant and equipment/prepaid lease properties/intangible assets/investment properties was MYR 646,578,000 compared with MYR 890,987,000 a year ago. Net assets per share attributable to owners of the company were MYR 3.29 compared to MYR 3.38 a year ago. The company reported impairment charges for the third quarter ended December 31, 2016. For the period, the company reported impairment loss of intangible assets of MYR 267,000. Write off of property, plant and equipment was MYR 2,698,000 compared to MYR 68,000 a year ago.

Zhejiang Geely Reportedly Bid For Proton Holdings

Zhejiang Geely Holding Group Co., Ltd. is expected to bid as early as this week for a strategic partnership with Proton Holdings Bhd., two people familiar with the bidding process told Reuters. As part of its pitch following discussions with DRB-HICOM Berhad, Geely, which owns Volvo Car AB, is expected to offer Proton some of the latest vehicle technologies it has developed with Volvo's input. DRB-Hicom said earlier this month it was waiting for prospective foreign car makers to submit bids for a strategic partnership. Other potential bidders have included Peugeot S.A. (ENXTPA:UG), Suzuki Motor Corporation (TSE:7269) and Renault SA (ENXTPA:RNO).

DRB-Hicom Awaits Foreign Bids For Proton Partnership

DRB-HICOM Berhad (KLSE:DRBHCOM) said it is waiting for prospective foreign carmakers to submit bids for a strategic partnership with its Proton Holdings Bhd., on February 7, 2017. "DRB-Hicom is now waiting for the submission of bids from the parties, after which an earnest evaluation of the bids will commence," DRB-Hicom said in a statement. Without naming the bidders, DRB-Hicom said "the parties have conducted their own due diligence on Proton over the past weeks". DRB-Hicom said it maintains its target of completing the selection of the foreign strategic partner by the first half of this year, although it will aim to complete the deal earlier.

 

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