Good news for DRB-Hicom

Shot in the arm: CIMB Research says the proceeds from the subscription shares will be utilised for the settlement of outstanding balances due to Proton’s creditors, vendors and suppliers.

The company’s shares are up on Proton’s capital injection exercise

INTEREST in DRB-Hicom Bhd briefly picked up early in the week, when it announced that the Government had agreed to subscribe to 1.25 billion redeemable convertible cumulative preference shares (RCCPS) issued by its wholly-owned subsidiary, Proton Holdings Bhd.