CIMB Equities Research has upgraded DRB-Hicom from Hold to Add with a higher target price of RM1.60
KUALA LUMPUR: The owner of Malaysian automaker Proton Holdings Bhd plans to hold a board meeting next week to discuss a sale of a stake in the unprofitable business, according to a person with knowledge of the matter.
DRB-Hicom Bhd
directors plan to discuss a proposal to sell a minority holding in Proton and a controlling stake in Proton’s Lotus Cars unit to China’s Zhejiang Geely Holding Group Co, said the person, who asked not to be identified because the matter is confidential.
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