DRB-Hicom ... Jun10

In April 2010, DRB-Hicom announced that its wholly owned unit Defence Technologies Sdn Bhd has received a letter of intent from the government to develop, manufacture, supply and deliver 12 variants of the Malaysian AV-8 armored wheeled vehicles.

Although a contract value was not given some news reported that the job could be worth as much as Rm8 billion while others placed the value as low as RM5 billion, depending on the specifies.

Sources say that Naza group is looking at wrest a government defence contract from DRB-Hicom and is looking to break DRB-Hicom hold on defence related contracts..

Naza and Bumar have a JV company which deals in an armored modular vehicle in Polish. DRB-Hicom meanwhile has a tie up with Turkish defence company to bag the job.