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