Stock Picks #2
DRB-Hicom Bhd (DRBHCOM)
Week high : RM 2.61 (Up 24 sen - 10%)
On 27 April, DRB-Hicom
announced that it had received acceptances totaling 98.6% of the total
issued and paid up share capital of Proton Holdings Bhd and will
proceed to “compulsorily acquire” all outstanding shares.
Proton to be suspended from trading from 4 May 2012 onwards.
Proton to be suspended from trading from 4 May 2012 onwards.
Market took this news as positive this will give DRB-Hicom total control over Proton to carry out their management strategies.
In addition, a market talk on possible sale of Lotus on 25 April (which was denied by DRB later on Friday) and the recent launch of Proton’s flagship car model Preve were expected to be beneficial to DRB-Hicom.
In addition, a market talk on possible sale of Lotus on 25 April (which was denied by DRB later on Friday) and the recent launch of Proton’s flagship car model Preve were expected to be beneficial to DRB-Hicom.
DRBHCOM
stock rose 24 sen (10%) since 27 April to week’s highest RM 2.61 on the
same day and closed at RM 2.54 at the end of this week.
Click here for all latest posts on DRB-Hicom
Click here for all latest posts on DRB-Hicom
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