KUALA LUMPUR Feb 19Malaysian
automotive-to-insurance conglomerate DRB-Hicom Bhd has
agreed to pay 298 million ringgit ($96 million) to buy
Composites Technology Research Malaysia (CTRM), a producer of
aircraft components owned by the finance ministry.
DRB-Hicom said on Tuesday that the purchase of the 96.9
percent stake in CTRM by its wholly-owned subsidiary Defence
Technologies Sdn Bhd will be subject to a due diligence audit.
DRB-Hicom, owned by Malaysian tycoon Syed Mokhtar
Al-Bukhary, last year bought a 42.7 percent stake in vehicle
maker Proton Holdings for $412 million from the
country's state investment arm Khazanah Nasional.
($1=3.0985 Malaysian ringgit)
(Reporting By Al-Zaquan Amer Hamzah; Editing by Greg Mahlich)