DRB-Hicom, Geely shares soar on potential Proton partnership

Partnership plan: New Proton cars seen transported at Shah Alam. Geely is said to be the frontrunner in securing a strategic partnership with Proton.

PETALING JAYA: Shares of DRB-Hicom Bhd rose to their highest in more than two months, while China’s Geely Automobile Holdings Ltd shares hit a new all-time high following reports of a potential strategic partnership between Geely and DRB-Hicom’s unit Proton Holdings Bhd.

DRB-Hicom’s shares were among the top traded yesterday, with the stock closing at RM1.27 or an eight-sen increase from RM1.19 last Friday. It had risen to an intraday high of RM1.30 just before closing.