DRB-Hicom forms JVco with Chinese auto parts maker to support Proton

At 5pm yesterday, DRB-Hicom shares jumped 43 sen to RM23.50, its highest since May 2014.

KUALA LUMPUR: DRB-Hicom Bhd said a subsidiary has agreed to a set up a joint venture with a Chinese auto parts producer, as the local conglomerate targets to win more business from national carmaker Proton Holdings Bhd.

The joint venture company (JVco), to be based in Malaysia, will design and manufacture instrument panel, floor consoles and door trims and related components for vehicles.