KUALA LUMPUR (Jan 9): The securities of PROTON HOLDINGS BHD [] and DRB-HICOM BHD [] rose in active trade following fresh corporate news about the takeover of Kazanah Nasional’s 42.7% stake in the national car maker.
At 9.08am, Proton was up 16 sen to RM5.15 while its call warrants, Proton-CG added 3.5 sen to 51.5 sen and Proton-CH added 4.5 sen to 47.5 sen.
DRB-Hicom-CG rose two sen to 9.5 sen and DRB-Hicom-CI one sen to 3.5 sen and DRB-Hicom-CF 1.5 sen to 10 sen.
The FBM KLCI rose 1.4 points to 1,515.53. Turnover was 95.15 million shares valued at RM50.68 million. There were 124 gainers, 60 losers and 119 stocks unchanged.
The Edge weekly reported that local businessman Tan Sri AP Arumugam and Gerald Lopez of Genii Capital intends to put in a joint bid for the 42.7% stake in Proton that Khazanah is looking to divest.
The Edge also reported they are also looking to bring in a former CEO of Proton who ran the company between the mid-1990s to 2004. The plan involves Lopez taking over Group Lotus while Arumugam will control Proton
In another development, DRB-Hicom confirmed that it has submitted a proposal to acquire Khazanah’s 42.7% stake in Proton and is awaiting a decision from the government.
"The proposal was submitted to Proton for purchase of shares in the middle of last year," said DRB-Hicom group managing director Datuk Seri Mohd Khamil Jamil.
He was quoted saying added the bid was a standalone one and did not involve any strategic partner.
At 9.08am, Proton was up 16 sen to RM5.15 while its call warrants, Proton-CG added 3.5 sen to 51.5 sen and Proton-CH added 4.5 sen to 47.5 sen.
DRB-Hicom-CG rose two sen to 9.5 sen and DRB-Hicom-CI one sen to 3.5 sen and DRB-Hicom-CF 1.5 sen to 10 sen.
The FBM KLCI rose 1.4 points to 1,515.53. Turnover was 95.15 million shares valued at RM50.68 million. There were 124 gainers, 60 losers and 119 stocks unchanged.
The Edge weekly reported that local businessman Tan Sri AP Arumugam and Gerald Lopez of Genii Capital intends to put in a joint bid for the 42.7% stake in Proton that Khazanah is looking to divest.
The Edge also reported they are also looking to bring in a former CEO of Proton who ran the company between the mid-1990s to 2004. The plan involves Lopez taking over Group Lotus while Arumugam will control Proton
In another development, DRB-Hicom confirmed that it has submitted a proposal to acquire Khazanah’s 42.7% stake in Proton and is awaiting a decision from the government.
"The proposal was submitted to Proton for purchase of shares in the middle of last year," said DRB-Hicom group managing director Datuk Seri Mohd Khamil Jamil.
He was quoted saying added the bid was a standalone one and did not involve any strategic partner.
