Monday, 23 April 2012

DRB-Hicom says has not decided to sell Lotus

KUALA LUMPUR (April 23): DRB-HICOM BHD [] said it has not decided to sell Lotus Group, and that the conglomerate was currently undertaking an operations audit on Lotus Group, as part of its governance exercise.

“Contrary to reports that Lotus Group would be put under administration, DRB-HICOM is still supporting Lotus Group, both financially and management wise,” the company said in a statement dated April 21 lodged on Bursa Malaysia Securities on Monday.

“DRB-HICOM has not decided to sell Lotus Group and do not know the source of the speculation about selling Lotus Group to a Chinese party i.e Youngman.

“As of today, DRB-HICOM has identified one of PROTON’s Senior Management personnel to take up a position in Lotus Group in an effort to strengthen its management,” said DRB-Hicom.

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