DRB-HICOM HOPES TO FINALISE JV WITH VOLKSWAGEN NEXT MONTH

By Norsyafawati Ab Wahab

JERANTUT (Pahang, Malaysia), Nov 1 (Bernama)-- Conglomerate DRB-Hicom Bhd aims
to conclude the joint venture plan with Volkswagen next month.

"We still need to tie up certain matters like product costing, commercial terms
and investment with Volkswagen," its group managing director Mohd Khamil Jamil
said here on Sunday.

With the current capacity 60,000 per year, DRB-Hicom's automobile division plans
to have a deal to hold the regional distribution and also focus on getting a
deal for the hybrid and electric cars with Volkswagen.

The division contributed 57 per cent to total revenue in the previous financial
year.

On Alam Flora, its waste management business, he said it will soon expand its
services to Kelantan and Terengganu but was still waiting for the federal
government to make the appropriate announcement.

As for property development, DRB-Hicom will have a gross development value of
RM9 billion for the next 10 years. (US$1=RM3.09)

The development of the Glenmarie area is also expected to bring in a GDV of
about RM700 million to RM1.2 billion.

"We wish to position ourselves in the medium-upper market in the property
sector," he added.

The property sector currently contributes less than two per cent to group
revenue and there are plans to increase this to around 20 per cent in the next
five years.
--BERNAMA



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