PETALING JAYA: Public Investment Bank Bhd (PIVB) has maintained its “outperform” rating on DRB-Hicom Bhd with an unchanged target price of RM2.10. AHTV is envisioned to be an automotive industry centre for the Asean region and aimed to be the next generation vehicle hub in Tanjong Malim, Perak. The estimated value of total investments for AHTV is RM32bil from various parties, including vendors and potential investors, foreign and local, over the next 10 to 12 years. PIVB said it was positive over this development as the involvement of Geely, known for its strength in technology and mobility ecosystems, is a boost for AHTV. “This can be an impetus for Malaysia in the new automotive technology space, with the inclusion of multiple global investors also auguring well for the local automotive landscape,” it said in a note yesterday.

Source: The Star April 11, 2023 15:37 UTC