<div class=newsTextDataWrapInner><p>KUALA LUMPUR: DRB-Hicom Bhd’s unit CTRM Aero Composites Sdn Bhd has exchanged a letter of intent with UTC Aerospace Systems for the extension of CTRM’s supply of three existing work packages.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, DRB-Hicom (fundamental: 1.5; valuation: 1.8) said the discussions between the two parties are ongoing during the Langkawi International Maritime and Aerospace Exhibition.</p></div>

<div class=newsTextDataWrapInner><p>The group anticipates the tenure of the contracts, which were awarded in 2003 with a contract value of approximately RM4.2 billion, to be extended up to seven years with an average annual value of RM350 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The contracts entail the supply of major composite structures, including fan cowls, inlet cowl panels and thrust reversers.</p></div>

<div class=newsTextDataWrapInner><p>“We are very excited about our discussions regarding the potential continuation of our work with UTC Aerospace Systems.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>“If awarded, this work could provide tremendous opportunities for our company to build capacities and capabilities in this high-value and high-technology business,” said DRB-Hicom group managing director, Tan Sri Mohd Khamil Jamil.</p></div>

<div class=newsTextDataWrapInner><p>DRB-Hicom closed one sen or 0.5% lower at RM2, with a market capitalisation of RM3.89 billion.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily</em>, on March 20, 2015.</p></div>


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