DRB-HICOM says no official proposal from GM
There were reports of General Motors doing a due diligence audit last week on local Chevrolet distributor Hicomobil as a precursor to GM potentially acquiring a 51% equity stake by October. However DRB-HICOM Bhd’s management says it has not received any official proposal from General Motors Corp (GM) to acquire a 51 pct equity stake in Hicomobil Sdn Bhd. As far as I know, for a due diligence audit to be done it requires cooperation from the company being audited. For more details please refer to the Bursa Malaysia announcement linked below.
Source: Bursa Malaysia Announcement
July 20, 2006 @ 7:19 pm
Well, I hope DRB will learn a lesson or two here. GM too needs to understand that Malaysia is a unique market that requires unique intervention. No way u can sell a Korean car more expensive than the Jap’s!
July 20, 2006 @ 8:12 pm
Market’s getting crowded..
July 20, 2006 @ 8:27 pm
with our car market being a saturated market..i really hope that we can get cheaper cars.
Cheers!
July 20, 2006 @ 9:16 pm
not sure why GM is interested in out market anyway…no way to make money here. Too much red tape also.
July 21, 2006 @ 12:24 am
tot GM alredi in deep financial trouble?!
July 21, 2006 @ 1:33 am
GM should read the fine prints first…. as i know now i dont think any foriengn company are allowed to take a big stake in local company. the major holders should be locals/bumi. they should consider the malaysian market as the brand is not as good are the japanese counterparts. i as a car freak will never buy a rebadged korean nor korean makes.
iam currently in dubai and chevy are doing great here. they are many chevrolet Epica model use as taxies here. there are many other models to choose from. unlike malaysia u are limited to some small models and not the big ones. well thank god they are not bring in any big fuel eating machines.
look at lumina.. its doing ok here but in malaysia i dont see at all.
July 21, 2006 @ 7:12 am
yala…actually i like the lumina…saw one in melaka…really pretty…very rare species…
July 21, 2006 @ 8:48 am
Lumina is a very preety car, made in australia. I saw it in Chev’s showroom in my town previous yr, now its sent back I think… cos with that price, its not a car which can be easily sold in my town. I got sit inside the car when on auto fair… not bad overall… i like it too.
July 21, 2006 @ 11:09 am
That’s funny. DRB said exactly the same thing as what the GM Ceo said about Renault-Nissan when its looking at a partnership, and the Kerkorian told him to go see Ghosn for Lunch. Yeah hilarious ainnit? DRB should actually be a little bit more original.
July 21, 2006 @ 1:24 pm
huh ?
July 21, 2006 @ 5:07 pm
I think the most of the car consumer one to be treated like King is better then treated like slave or dirt. Malaysia market will never be over crowded. Didn’t all of you see the ruin of monopoly?
January 16, 2007 @ 1:06 am
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