AEC Feed

DRB-Hicom Bhd and Zhejiang Geely Holdings Group have signed the final agreement, which sees the latter acquiring 49.99 per cent of car manufacturer Proton and 51 per cent of luxury sports car brand Lotus in a deal worth RM1 billion.
Zhejiang Geely is buying the Proton stake for RM460.30 million, of which RM170 million is cash and the remaining RM290 milion will be in form of a transfer of the former's sports utility vehicle (SUV) platform Boyue for RM290 million.
The next step will see Proton venturing into the SUV market through the rebadging and later the development of its own SUV under the platform. As for the Lotus stake, Zhejiang Geely will be paying 100 million pound (RM540 million) to Proton for the 51 per cent stake.
Prime Minister Najib Razak said the signing of agreement cements the beginning of strategic partnership between both companies. ''Following this strategic partnership, Proton will have the ability and resources to turn itself around and become an example of Malaysian success. – The Star

Unilever inaugurates 1.34 tr rupiah building
Consumer goods corporation Unilever Indonesia inaugurated its new headquarters on Wednesday in Bumi Serpong Damai in South Tangerang, Banten.
The building, called Grha Unilever, was built on 30,000 square metres of land and required investment of 1.34 trillion rupiah (Bt3.4 billion).
“It is great that we made this investment, which symbolises our long-term commitment to Indonesia,” Unilever global CEO Paul Polman said.
The new building was designed to consolidate four offices scattered across Jakarta. Industry Minister Airlangga Hartarto and Investment Coordinating Board head Thomas Lembong attended the inauguration.
Unilever has reiterated its commitment to invest US$500 million (Bt17 billion) domestically over the next few years. - The Jakarta Post 

Piaggio Indonesia unfazed by Honda’s challenge
Piaggio Indonesia, the principal and sole agent of Vespa and Piaggio in Indonesia, is not concerned by Astra Honda Motor’s introduction in April of the Honda SH150i as a new premium scooter competitor.
Sales of the Vespa Medley, whose specifications are comparable with the Japanese counterpart, have not declined, even though they are in the same price bracket, said Piaggio Indonesia marketing director Andre Sanyoto. The Medley is marketed at around 44 million rupiah (Bt11,220), while the Honda SH150i is priced at 44.9 million rupiah. 
“If they (Honda) can sell five to 10 units a month, we are seeing at least double-digit sales and have seen positive growth since (the Medley’s) launch in May 2016,” he said.
Piaggio will not be affected by declining sales in the industry, as it relies on the premium scooter segment. It will introduce at least two more premium scooters this year, including the Vespa 946 (RED).
“We are sticking to the premium segment, with an audience who considers not only the functionality of our product, but also their emotional attachment to it,” he said. – The Jakarta Post 

AirAsia to add more routes from Johor Baru 
AirAsia plans to add at least two or three international destinations in the region connecting Johor Baru by this year to attract more regional tourists to the state.
AirAsia Bhd chief executive officer Aireen Omar said the airline would be looking at cities in China, Indonesia and India as the three countries offered good prospects and growth for the company. “We will inform you (media) when the new routes between Johor Baru and the cities going to start, definitely it is going to take place this year,’’ she said.
Aireen said this at the launch of the inaugural three weekly flights between Johor Baru and Kuala Terengganu, the ninth domestic route served by AirAsia in and out of Johor Baru.
The other domestic routes served by the airline from Johor Baru include Kuala Lumpur, Penang, Langkawi, Kuching, Miri, Tawau, Sibu and Kota Kinabalu. – The Star