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DRB-HICOM incorporates Proton Motor Persian Company

DRB-Hicom-Proton

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Written by Syndicated News

KUALA LUMPUR, April 20 2018 : DRB-HICOM Bhd’s 50.1 per cent owned subsidiary, Proton Holdings Bhd has via its wholly-owned subsidiary, Proton Marketing Sdn Bhd, incorporated a 90 per cent owned new subsidiary known as Proton Motor Parsian Company (Ltd) (PMPC) in Iran on April 10.

In a filing to Bursa Malaysia, DRB-Hicom said the issued share capital of PMPC is Iranian riyals of one million divided into one million shares.

PMPC is expected to undertake the business of car assembly with completely knocked down (CKD) and semi-knocked down (SKD) parts, production, exports, and imports as well as car accessories and spare parts.

The incorporation will not have any material effect on the earnings per share, net assets per share, share capital, gearing and substantial shareholders’ shareholdings of DRB-HICOM for the financial year ending March 31, 2019. – Bernama

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