DRB-HICOM Berhad has purchased government investment arm Khazanah Nasional’s entire 15% (19.5 million shares) stake in Modenas for RM24 million, or RM1.23 per RM1 share.
This move will increase DRB-HICOM shareholding in Modenas from 55% to 70%. The remaining 30% is held by Kawasaki Heavy Industries Ltd (19%) and Sojitz Corporation (11%).
Modenas is short for Motosikal dan Enjin Nasional Sdn. Bhd and uses Kawasaki technology and parts for its motorcycles. It also rebadges scooters from Taiwanese scooter company PGO.
After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history. An avid electronic gadget aficionado as well as big-time coffee lover, he's also the executive producer of the Driven motoring TV programme.
This is good news I guess. Khazanah making money and not just injecting money to save businesses.
is really not a good news, why need to increase the stake? should increase the market share, as i know the modenas share is keep droping..because the parts cant last long, maybe will be the second “Nitro”.
Slowly Khazanah let go its shares.
yea, totally
DRB-Hicom is an example of big conglomerate with bad management style. None of is member company can be considered successful company. Even the co can not be comparable with the succesful Johor Corporation.
Modenas’s performances has been deteriorated for the past 5 years. Let DRB-Hicom to fully control the company, will see Modenas going to the grave.
Maybe DRB sees a magic in Modenas..,
because from my view, Khazanah is like ‘RUMAH KEBAJIKAN’, i.e taking care of somebody before they die!
But Modenas, with very-very fierce competition out there, it survives.
yes MODENAS performance has deteriorated for past few years, however in 10 years of business 9 out of 10 years is profitable. Their market share is dropping for past 5 years to HONDA and then to YAMAHA and now at No.3 for motorcycle sales.
As I can recall their market share is increasing back for the past 2 years. and because of the fuel price the motorcycle industry has brighter future. more sale more volume.
For kapcai & scooter, there no heavily protection like car industry. everybody has to play at same ground.
Modenas is doing a good job. I read that people have rode up to Myanmar with Modenas Excite. Keep it up Modenas!
Could be a good deal, with share prices at all time low, some would really buy back their shares from the government. It could also be possible that DRB sells it to somebody else. But you have to read this together with the MMC decision to buy Senai Airport. No denying that they are bringing in money back to Malaysia after romping through the mid-east