DRB-Hicom up 1.40% after 51%-owned Proton inks new JV

-A +A

KUALA LUMPUR (June 13): Shares in DRB-Hicom Bhd rose 1.40% this morning after the conglomerate’s 50.1%-owned unit Proton Holdings Bhd entered a new joint venture (JV) with Altel Communications and ECarX (Hubei) Technology Co Ltd, China to set up a company to develop more indigenous digital technology and car connectivity systems.

At 9.31am, DRB-Hicom added 3 sen to RM2.17 with 769,000 shares traded.

Chinese Industry and Information Technology Minister Miao Wei witnessed the JV’s signing ceremony. Separately Proton announced that its RM1.2 billion assembly plant’s commissioning is drawing near and production trial runs have begun for the X70.