DRB-Hicom to redevelop Proton's Malaysian production facility
DRB-Hicom may either develop the site in a joint venture with Proton, or buy it outright.
Malaysian conglomerate DRB-Hicom plans to redevelop its automaker subsidiary Proton's manufacturing site in Shah Alam into an integrated facility that is expected to generate around 4 billion ringgits (USD1.3 billion) in gross development value (GDV), reports the Business Times. Currently, Proton owns the 100-hectare site, which houses the company's main factory, a smaller multi-vehicle plant, a casting plant, and an engine machining and assembly building. Altogether, the site is worth a book value of USD22.5 million. DRB-Hicom may either develop the site in a joint venture with Proton, or buy it outright from the latter. DRB-Hicom is a diversified group with automotive, financial services, and construction divisions.
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