Monday, 02 Nov 2020 01:45 PM MYT
KUALA LUMPUR, Nov 2 — DRB-Hicom Bhd’s RM240 million land acquisition proposal in Melaka from Tradewinds Plantation Bhd is expected to have a minimal impact on the group’s earnings, while expanding its industrial land bank asset portfolio, says CGS-CIMB. Last Friday, DRB-Hicom, in a bourse filing, said its indirect wholly-owned unit, Hicom Glen Sdn Bhd, had proposed to buy 116.44 hectares land in Alor Gajah, Melaka from TWPB for RM240 million for the purpose of industrial park development.
Meanwhile, CGS-CIMB expected DRB-Hicom to deliver sequentially stronger net profit in the third quarter ended Sept 30, 2020 , driven by higher sales volume at Proton and an increase in parcels processed volume at Pos Malaysia Bhd, underpinned by robust e-commerce demand.