KUALA LUMPUR, July 18 — DRB-Hicom Bhd’s shares on Bursa Malaysia were traded higher after the announcement that the Chinese automobile manufacturer Zhejiang Geely Holding Group Co Ltd (Geely) will be investing US$10 billion (RM45 billion) to turn Tanjung Malim, Perak, into the region’s largest auto city.

At 4.10pm, the counter added four sen to RM1.43 with 3.38 million shares traded.

Today, Prime Minister Datuk Seri Anwar Ibrahim said the aspiration, conveyed by Geely in a letter to him last night, would create thousands of job opportunities for Malaysians.

He said Geely, which is jointly producing cars with Proton, had written a 10-page letter to inform that it wants to continue to make Tanjung Malim the largest auto city in the region.

It would kick off with US$10 billion or RM40 billion in investment, he said.

Prior to this, on April 1, DRB-Hicom also signed a heads of agreement with Geely in Beijing regarding the development of an automotive industry hub in Tanjong Malim. — Bernama