DRB-Hicom, Perak State Will Not Extend MOU

In a Bursa filing today, DRB-Hicom has informed that it will not be extending the memorandum of understanding between the company and the State Government of Perak as it expires on April 11.

The MOU is believed to be in reference to the Automotive Hi-Tech Valley (AHTV) project, where the parties are to jointly identify suitable additional land in the area to be earmarked for AHTV.

DRB-HICOM said the MOU had expired on 11 April 2024 and an extension will not be sought at this stage but communication between both parties are still ongoing.

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