Latest news with #DRB-Hicom
The Star
22-05-2025
- Business
- The Star
DRB-Hicom to sustain focus on digital transformation
The group will continue to strengthen business fundamentals to support resilience and long-term sustainability. PETALING JAYA: DRB-Hicom Bhd will remain focused on advancing digital transformation across key sectors such as banking and postal services, as part of its ongoing efforts to improve operational efficiency. In a filing with Bursa Malaysia, the company said for its aerospace and defence, services and properties divisions, the group will continue to strengthen business fundamentals to support resilience and long-term sustainability. 'The group anticipates a moderate outlook for the financial year ending Dec 31, 2025.' For the first quarter ended March 31, 2025 (1Q25), DRB-Hicom's net profit plunged to RM17.72mil from RM91.54mil in the previous corresponding quarter. DRB-Hicom said the lower result was mainly due to weaker contributions from the automotive, postal and property sectors, driven by softer sales and higher operating costs. Revenue in 1Q25 dipped to RM4.11bil from RM4.33bil a year earlier. DRB-Hicom said it reported lower revenue for its automotive, aerospace and defence, postal and properties sectors. 'The decline in revenue was primarily due to lower sales volume of Proton vehicles and lower revenue from manufacturing and engineering companies. The aerospace and defence sector recorded lower revenue, mainly driven by the decrease in product deliveries,' it said.
The Star
22-05-2025
- Business
- The Star
DRB-Hicom to focus on advancing digital transformation
PETALING JAYA: DRB-Hicom Bhd will remain focused on advancing digital transformation across key sectors such as banking and postal services, as part of its ongoing efforts to improve operational efficiency. In a filing with Bursa Malaysia, the company said that for its aerospace and defence, services and properties divisions, the group will continue to strengthen business fundamentals to support resilience and long-term sustainability. 'The group anticipates a moderate outlook for the financial year ending Dec 31, 2025.' For the first quarter ended March 31, 2025 (1Q25), DRB-Hicom's net profit plunged to RM17.72mil from RM91.54mil in the previous corresponding quarter. DRB-Hicom said the lower result was mainly due to weaker contributions from the automotive, postal, and properties sectors, driven by softer sales and higher operating costs. 'The banking sector's reduced profit was primarily attributable to impairment losses on investments and increased credit loss allowances on customer financing. Revenue in 1Q25 dipped to RM4.11bil from RM4.33bil a year earlier. DRB-Hicom said it reported lower revenue for its automotive, aerospace and defence, postal and properties sectors. 'The decline in revenue was primarily due to lower sales volume of Proton vehicles and lower revenue from manufacturing and engineering companies. 'The aerospace and defence sector recorded lower revenue, mainly driven by the decrease in product deliveries of single-aisle aircraft and certain aircraft parts in response to lower demand from airlines.' The group said the Malaysian economy is poised to remain resilient in 2025, despite prevailing global uncertainties, particularly those stemming from US-imposed tariffs on Malaysian exports. 'Bank Negara's decision to maintain the Overnight Policy Rate at 3% since May 2023 reflects a balanced approach to supporting growth while preserving price stability amid moderate inflation. 'However, the global outlook remains fluid, shaped by evolving US trade policies, rising geopolitical tensions, and persistent financial market volatility.'
Yahoo
03-05-2025
- Automotive
- Yahoo
Audi begins local assembly of Q7 in Malaysia
Volkswagen Group began assembling the upmarket Audi Q7 seven-seater mild-hybrid SUV in Malaysia at the end of April, as the German automaker looks to strengthen its currently very limited presence in the South-east Asia region. The model is now being built at a facility in city of Pekan, in Malaysia's north-eastern Pahang state, owned by Malaysian domestic vehicle manufacturer DRB-Hicom Bhd. DRB-Hicom's facility already produces the Volkswagen Golf and Tiguan models in very limited volumes, under a contract assembly agreement. According to the Malaysian Automotive Association, the Volkswagen brand sold just 372 vehicles in the country in the first quarter of 2025, including imported models, while Audi sold none. The Q7 is only Audi model to be produced in South-east Asia, although other models are expected to follow. It is powered by a 3.0L turbocharged V6 engine, delivering 340 hp and 500 Nm of torque. Retail prices range between RM469,000 and RM489,000 (US$109,600-US$114,250), with local assembly helping to reduce import tariffs. DRB-Hicom is reported to have invested MYR12m (US$2.8m) to tool the plant for the production of the Audi model, and has set an annual production target of 5,000 units – including exports to other markets in the region. "Audi begins local assembly of Q7 in Malaysia" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
