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| Mohd Khamil |
The exercise was to rationalise and align its businesses and investments in marketing, sales and servicing of Proton vehicles in EON and PESB.
In a statement, DRB-Hicom group managing director Datuk Seri Mohd Khamil Jamil said: “Besides being one of the group's strategy to achieve greater operational efficiency, establish cost savings and enhance the group's future earnings, the internal reorganisation will also ensure the seamless implementation of strategic measures to achieve performance excellence in distribution, logistics and after sales service.
“The group will also be able to leverage on specialised expertise with the consolidation of the workforce, allowing the group to augment its service offerings for the automotive industry.”
It has completed the acquisition of 100% equity interest in Proton on June 26.
Barely four months after the acquisition, DRB-Hicom was now mobilising improvement measures in Proton.
The internal reorganisation among others involved the sale, transfer and assignment of the rights, title and interest in all the assets used in the Proton business, all liabilities relating to the Proton business and employees employed by EON for the Proton Business to PESB by EON, the acquisition of 100% equity interest in EON Properties Sdn Bhd, a wholly-owned subsidiary of EON involved in property management by PESB; and the acquisition of 100% equity interest in Automotive Conversion Engineering Sdn Bhd, a wholly-owned subsidiary of EON involved in the conversion and modification of motor vehicles and distribution of car accessories business, by PESB.
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