Latest news with #DRB-HicomBhd
The Star
3 days ago
- Business
- The Star
Trading ideas: DRB-Hicom, Citaglobal, Critical Holdings, Carzo, Y&G, Hup Seng, Inta Bina, HCK Capital
KUALA LUMPUR: DRB-Hicom Bhd , Citaglobal Bhd , Critical Holdings Bhd , Carzo Holdings Bhd , Y&G Corp Bhd , Hup Seng Industries Bhd , HCK Capital Group Bhd , and Inta Bina Group Bhd are among the stocks to watch following their latest news. DRB-Hicom has proposed to acquire the entire equity interest in Spirit Aerosystems Malaysia Sdn Bhd for a purchase consideration to be determined based on an enterprise value of US$95.2mil. Citaglobal is acquiring a 70% stake in Zeqna Corporation Sdn Bhd for RM15mil and a 70% equity interest in Koridor Mentari Sdn Bhd for RM1, conditional upon the completion of Zeqna's acquisition. Critical Holdings has secured a contract worth RM40.76mil to undertake mechanical and electrical works for a new production floor fit-up, including cleanroom architecture and process utilities. Carzo Holdings Bhd faces possible delisting from Bursa Malaysia after failing to acquire a new core business within nine months, following its exit from fresh fruit distribution. It announced in November last year that it was ceasing its core business of distributing fresh fruits and fruit products. Y&G is acquiring four parcels of land totaling 462 acres in Selangor for RM395mil, including 95.02 acres in Sepang from Nurani Saujana for RM206mil and 367 acres in Kuala Selangor from Asian Regal Holdings for RM189mil. Additionally, Y&G said it was acquiring Konsep Wawasan Sdn Bhd for RM82mil. Hup Seng Industries reported a 5.7% decline in net profit to RM8.5mil for the second quarter ended June 30, down from RM9.03mil a year ago, with earnings per share falling to 1.06 sen from 1.13 sen. However, revenue increased 5.7% to RM84.8mil compared to RM80.2mil in the same period last year. HCK Capital is acquiring a third plot of land measuring approximately 1.2340 acres within the Setia City BizPark in Bukit Raja, Selangor, for RM19.35mil. Inta Bina has accepted a letter of award from GDP Architects Sdn Bhd, on behalf of 368 Segambut Sdn Bhd and a joint-venture between IJM Land Bhd and FCW Holdings Bhd , for main building works worth RM264.5mil.
New Straits Times
7 days ago
- Automotive
- New Straits Times
DRB-Hicom's EON on track for 12,000 sales despite fierce market competition
SHAH ALAM: DRB-Hicom Bhd's retail arm, Edaran Otomobil Nasional Bhd (EON), aims to sell 12,000 vehicles by year-end, having already reached the halfway mark amid intensifying industry competition. Chief executive officer Akkbar Danial said about 6,000 units have been sold across various models within the EON Group so far this year, keeping the company on track to meet its goal. "We are optimistic about reaching our target. If we just sit and wait, the sales would not happen, but with our own initiatives and uniqueness, we believe we can achieve the numbers," he told reporters at the launch of EON & Sahabat Autofest 2025 here today. The three-day event, which starts on Aug 8, is expected to secure 888 bookings. EON anticipates about 10,000 visitors this year, up from 6,000 last year. Akkbar said while the total industry volume remains stable compared with last year, competition has intensified with more automotive brands entering the market. "That is why EON is finding ways to differentiate itself in the automotive industry to remain relevant and a top choice for customers," he said. On the United States' tariff measures, Akkbar said there is no immediate impact on EON's retail prices as most of its models are completely knocked down (CKD) units assembled in Malaysia. Instead of expanding physical branches aggressively, EON plans to strengthen its digital presence through its EON Online marketplace, which offers real-time booking, payment and service appointment features. "We are continuously assessing how to expand our representation in every state or district. But we need to be more unique. "Simply opening new showrooms would incur high capital expenditure. So we need to be more creative in expanding our presence," Akkbar said. The Autofest, now in its second edition, offers visitors a fully integrated experience across eight interactive zones. These zones bring together a wide range of multi-brand vehicle displays, financing solutions, aftersales services, lifestyle attractions, and family-friendly activities. Early registrants stand a chance to win exclusive collector's items, including the limited Proton Saga 40th Anniversary Hot Wheels edition. Participating brands include Proton, smart, Mitsubishi, Honda, Isuzu, Audi, Volkswagen, and Daihatsu, with strong support from ecosystem partners in finance, insurance, mobility tech, and aftersales. According to Akkbar, attendees will also be able to obtain on-the-spot loan approvals in just 30 minutes through Tras, EON's digital financing platform, in collaboration with partner banks. EON has also introduced the Muamalat EON Visa Infinite-i and Muamalat EON Visa Platinum-i co-branded credit cards through a strategic collaboration with Bank Muamalat Malaysia Bhd.
New Straits Times
23-05-2025
- Automotive
- New Straits Times
Analyst reaffirms DRB-Hicom forecasts after profit rebound
KUALA LUMPUR: Public Investment Bank Bhd (PublicInvest) has maintained its earnings forecasts for DRB-Hicom Bhd after the group returned to profitability in the first quarter ended March 31, 2025 (1Q25), driven by stronger sales and improved cost efficiency. "The results were in line with our estimates but fell short of consensus, representing 22.6 per cent and 19.3 per cent of full-year forecasts, respectively," the research house said in a note. PublicInvest reaffirmed its 'Neutral' call on the counter with an unchanged sum-of-parts-based target price of RM0.84. DRB-Hicom posted a net profit of RM17.7 million for the quarter, reversing three consecutive quarters of losses. Excluding non-recurring items, core net profit is estimated at RM28.9 million, reflecting a stronger underlying performance. The improvement was supported by better cost control and healthier sales across most business segments, underscoring the group's operational turnaround. Looking ahead, PublicInvest cautioned that heightened competition, particularly from competitively priced Chinese carmakers, could pressure margins and pose challenges to earnings growth. It also noted that Malaysia's automotive sector is expected to normalise in 2025 after a record-setting year in 2024. The Malaysia Automotive Association reported a five per cent year-on-year decline in total industry volume for the first four months of the year, with full-year sales projected to ease 3.5 per cent to 780,000 units. PublicInvest said the anticipated softer demand is partly due to the easing of order backlogs and a potential increase in excise duties for completely knocked-down vehicles. Other contributing factors include the rollout of targeted RON95 fuel subsidies, and the introduction of a high-value goods tax.
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.'
