Malaysia's DRB-Hicom to bid for airport services in Saudi Arabia

KUALA LUMPUR Thu Feb 21, 2013 6:51am EST

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KUALA LUMPUR Feb 21 (Reuters) - Malaysian automotive-to-insurance conglomerate DRB-Hicom Bhd said on Thursday it had teamed up with Saudi International Trading and Marketing Ltd (SITM) to bid for airport ground handling services in Saudi Arabia.

DRB-Hicom, owned by Malaysian tycoon Syed Mokhtar Al-Bukhary, said the collaboration would enable the business to expand its overseas operations.

The company has signed a memorandum of understanding with SITM through its wholly-owned subsidiary KL Airport Services Sdn Bhd, it said in a stock exchange filing on Thursday.

The companies will do a feasibility study and submit their bid when they have received an invitation from the General Authority of Civil Aviation of Saudi Arabia.

DRB-Hicom did not reveal the potential value of the handling services contract.

(Reporting By Al-Zaquan Amer Hamzah; Editing by Jane Merriman)