KUALA LUMPUR (May 26): DRB-Hicom Bhd’s net loss in the first quarter ended March 31 (1QFY22) swelled to RM25.74 million from a net loss of RM16.96 million a year ago, underpinned by losses incurred at 50.1%-owned PROTON Holdings Bhd and the group’s property segment. As a result, losses per share widened to -1.33 sen from -0.88 sen, its Bursa Malaysia filing showed on Thursday (May 26). On a quarterly basis, the conglomerate’s net loss position during the quarter was in stark contrast to the RM117.47 million net profits registered in the preceding quarter. DRB-Hicom expects to recover particularly with the continued strong demand, new products, new markets and countermeasures against supply chain issues. Shares in DRB-Hicom settled one sen or 0.75% higher at RM1.34, giving it a market capitalization of RM2.59 billion.
