Subject: DRB-Hicom aborts Timor-Leste programme
05-02-2009: DRB-Hicom aborts Timor-Leste programme
KUALA LUMPUR: DRB-Hicom Bhd said yesterday it has aborted its proposal to support the modernisation programme of the Defence Forces of Timor-Leste, given the current global economic situation.
The proposal colloborative programme was contained in an MoU signed between its wholly owned subsidiary DRB-Hicom Defence Technologies Sdn Bhd (DefTech) and the Timor-Leste government on April 21, 2008.
However, it did not say if the setback affected the separate agreements with the Timor-Leste government involving the supply and refurbishment of military land-based vehicles.
The agreements pertained to the supply of vehicles for a total value of RM541.3 million.