DRB-Hicom slips 5.9% in early trade after JV with Lotus aborted
24 Jan 2018 / 11:18 H.
PETALING JAYA: DRB-Hicom Bhd's share price fell as much as 5.9% this morning after the termination of Proton Holdings Bhd's partnership with Lotus Group International Ltd and Goldstar Heavy Industrial Co Ltd.
At 10.50am, the counter declined 11 sen or 4% to RM2.62, with some 15.99 million shares changing hands.
The joint venture was to sell and produce Lotus branded vehicles, components, parts and accessories in China. However, it was aborted due to delays in obtaining a manufacturing licence.
The joint venture entity has not commenced its business operations.