DRB-HICOM Berhad (MYX: 1619) is one of Malaysia's leading corporations, involved in the automotive manufacturing, assembly and distribution industry through its involvement in the passenger car and four wheel drive vehicle market segment, the national truck project and the national motorcycle project. DRB-HICOM assembles cars in Malaysia for TATA Motors, Honda, Isuzu, Mercedes-Benz and Volkswagen, with plans for expansion. The Group also retails various brands such Audi (via Euromobil Sdn Bhd), Mitsubishi (via EON Auto Mart Sdn Bhd) and Volswagen (via HICOM Auto Sdn Bhd).
|Diversified Resources Berhad|
|Publicly traded government-linked company|
|Traded as||MYX: 1619|
|Industry||Automotive, Services & Education and Property, Asset & Construction|
|Predecessor||The New Serendah Rubber Company Limited (1910-1980)
The Heavy Industries Corporation of Malaysia Berhad (1980-1996)
Diversified Resources Berhad (1996)
|Headquarters||Shah Alam, Selangor, Malaysia|
Dato' Sri Syed Faisal Albar bin Syed Ali Rethza Albar, Group Managing Director
|Revenue||12.06 billion MYR (2016) 13.69 billion MYR (2015)|
Number of employees
Besides automotive concerns, the group's core business focuses are in the services (postal, banking, refuse management, vehicle inspections) and property & infrastructure sectors. These are conducted via several companies such as Pos Malaysia, Bank Muamalat, Alam Flora and PUSPAKOM.
On 8 March 2018, the group announced a major shift in the direction of their property sector. In a cash plus land swap deal with companies owned by their majority shareholder, DRB-HICOM announced the sale of several plots of land and all its hospitality assets. This shift will see DRB-HICOM totally exiting the hospitality industry with the sale of Glenmarie Golf & Country Club, Holiday Inn Glenmarie KL and Vivanta by Taj at Rebak ISland Marina.
HICOM was incorporated on 11 March 1910 under The Companies Enactment 1897 as The New Serendah Rubber Company Limited. The company’s name was changed to The New Serendah Rubber Company Berhad on 15 April 1966. Subsequently, on 16 December 1993 it changed its name to HICOM Holdings Berhad pursuant to a restructuring exercise.
It was incorporated in 1980 as the Heavy Industries Corporation of Malaysia Berhad (HICOM). It experienced rapid growth and in 1996 merged with Diversified Resources Berhad (DRB) to form the biggest conglomerate in Malaysia. DRB-HICOM was listed on the Main Board of the KLSE on 4 September 1992 and assumed its present name on 11 May 2000.
On 29 September 2017, DRB-HICOM announced changes to the boards of its major subsidiary, PROTON Holdings Berhad. Following the signing of a Definitive Agreement with China's Zejiang Geely Holding Group Limited on 23 June 2017, the Chinese carmaker acquired 49.9% equity in PROTON. The announcement on 29 September saw a new board of directors put in place in PROTON Holdings, PROTON Edar (the local distribution arm) and Perusahaan Otomobil Nasional Sdn Bhd (PONSB).
Three nominees from Geely Holding joined the boards; Daniel Donghui Li, the Executive VP and CFO of Geely Holding; Dr Nathan Yuning, the Executive VP of International Business of Geely Holding, and Feng Qing Feng, the Group VP and CTO at HK-listed Geely Auto. DRB-HICOM are represented by Dato' Sri Syed Faisal Albar, who chairs the boards, and Amalanathan Thomas and Shaharul Farez Hassan. Both are part of the senior management team at DRB-HICOM.
Also named on the same day was Dr Li Chunrong, who joins PONSB as CEO. Dr Li is the third foreigner to head PROTON. Between 1997 and 1993, the early years of PROTON, two different Japanese nominees of their-then partners, Mitsubishi Motors Corporation, helmed the carmaker.
Companies under DRB-HICOMEdit
Wholly owned subsidiariesEdit
- HICOM Automotive Manufacturers Malaysia Sdn Bhd (formerly known as Automotive Manufacturers (Malaysia) Sdn Bhd)- assembly of Volkswagen Passenger Vehicle and DEFTECH military vehicle.
- PROTON Holdings Berhad - Major shareholder of Proton - until 23 June 2017, when Zhejiang Geely Holding Group Limited acquired 49.9% equity in PROTON
- DRB-HICOM Defense Technologies Sdn Bhd - defence vehicles
- Automotive Corporation Malaysia Sdn Bhd (ACM) () - Authorised dealer for Isuzu Malaysia Sdn Bhd
- USF-HICOM (Malaysia) Sdn Bhd
- DRB-HICOM Auto Solutions Sdn Bhd
- HICOM Diecastings Sdn Bhd incorporated 1985 - Casting and Machining
- Scott & English Malaysia Sdn Bhd
- POS Malaysia - Malaysia's national post services provider
- Puspakom Sdn Bhd - Vehicle inspection center
- DRB-HICOM University of Automotive Malaysia
- DRB-HICOM Environmental Services Sdn Bhd
- Glenmarie Cove Development Sdn Bhd
- Comtrac Sdn Bhd
- Bank Muamalat Malaysia
- Proton Edar Sdn Bhd - wholly owned subsidiary of PROTON Holdings Bhd
- Motosikal Dan Enjin Nasional Sdn Bhd (MODENAS)  equity of 81% - Motorcycle Manufacture and related components
- Edaran Modenas Sdn Bhd (EMOS)- Distribution of MODENAS motorcycle
- Edaran Otomobil Nasional Bhd - equity of 79.05%
- EON Automart Sdn Bhd - Authorised dealer for Mitsubishi Motors Malaysia Sdn Bhd
- Euromobil Sdn Bhd - wholly owned subsidiary of EON Bhd - importer and distributor of Audi
- HICOM AUTO Sdn Bhd - Direct subsidiary of EON Bhd - Authorised dealer for Volkswagen Group Malaysia Sdn Bhd
- Honda (Malaysia) Sdn Bhd  - equity of 34%
- Mitsubishi Motors Malaysia Sdn Bhd - equity of 48%, EON Bhd
- Isuzu HICOM Malaysia - Assembly of lights/heavy duty trucks, bus and passenger cars - equity of 49%
- Isuzu Malaysia Sdn Bhd - equity of 49%
- Suzuki Malaysia Automobile Sdn Bhd - equity of 40%
- Suzuki Motorcycle Malaysia Sdn Bhd - Motorcycle Engines & Components
- HICOM-TECK SEE Manufacturing (Malaysia) Sdn Bhd - equity of 51% - Manufacturer of automotive plastics components
- HICOM-YAMAHA Manufacturing (Malaysia) Sdn Bhd - equity of 48% - Manufacturer of YAMAHA motorcycle engines and components, incorporated 1983
- HICOM-Potenza Sport Cars Sdn Bhd - direct subsidiary of PROTON
- Oriental Summit Industries Sdn Bhd - equity 70% - Metal Stamping
- PHN Industry Sdn Bhd - Metal Stamping
- Uniasia General Insurance - Strategic partnership with United Overseas Bank Group
- Alam Flora Sdn Bhd - Waste Management & Public Areas Cleansing - 97.37%
- Konsortium Logistik Berhad - Logistics, Warehousing, Distribution, Automotive, Freight Forwarding & Haulage Services - 61.6%
- KL Airport Services
Dormant associated companyEdit
- HICOM-Chevrolet Sdn Bhd - equity of 49%
- "Archived copy" (PDF). Archived from the original (PDF) on 2014-12-04. Retrieved 2014-11-29.
- Business Content
- Tan, Danny (12 March 2012). "BREAKING: CKD Volkswagen Passat 1.8 TSI available now for RM170,888, same spec as CBU model". Selangor, Malaysia: Paul Tan’s Automotive News. Retrieved 26 July 2012.
- hd (12 March 2012). "VW startet Fahrzeugproduktion in Malaysia" [VW starts vehicle production in Malaysia] (in German). Auto News. Retrieved 26 July 2012.
- "Expansionspläne von VW in Malaysia werden konkreter" [VW's plans for expansion in Malaysia win concreteness]. Automobilwoche (in German). Oberpfaffenhofen: Crain Communications GmbH. 19 July 2012. Archived from the original on 3 March 2016. Retrieved 21 July 2012.