DRB shares surge as investors bet on Geely buying Proton

Kuala Lumpur

EVEN if China's Geely Automobile Holdings has yet to ink a deal to acquire Malaysian carmaker Proton Holdings Bhd, investors believe it's only a matter of time.

Shares of DRB-Hicom, which owns Proton Holdings, rallied 6.7 per cent to RM1.27 on Monday as investors speculated the conglomerate is close to securing an investor with pockets sufficiently deep plus the technical know-how to lighten its burden.