KUALA LUMPUR: CIMB Equities Research is retaining its earnings forecast for DRB-Hicom and target price of RM1.60, which is a 10% discount to the realised net asset value (RNAV).
Based on industry sources, the report stated DRB-Hicom advised key stakeholders of the possibility that Proton will be wholly disposed of. The whole process is expected to be completed by the first quarter of next year. The sources added that DRB-Hicom made it clear that it was willing to sell up to 100% of Proton.
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