KUALA LUMPUR, Aug 9 — DRB-Hicom Bhd's shares on Bursa Malaysia were higher in early trade today after the group dismissed news of a possible disposal of Proton's entire stake.
As at 9.37am, the counter rose four sen to RM1.20 with 3.57 million shares changing hands.
In a news report yesterday, DRB-Hicom said it remained "highly committed" to holding a substantial and strategic stake in Proton Holdings Bhd.
DRB-Hicom said as part of the requirement of the RM1.5 billion loan granted by the government, Proton was currently undertaking a request for proposal (RFP) exercise seeking a partner that can provide a strategic, operational and cultural fit on a permanent basis with the intention to grow its automotive business.
“This exercise is expected to be completed in the first quarter of 2017 and its implementation is being overseen by the Task Force Committee formed by the government to monitor the turnaround of Proton,” it said.
