Kamil Jamil: " CTRM takeover will complement DRB-Hicom's auto and defence businesses"

The proposed takeover of Composite Research Technology Malaysia Sdn Bhd (CTRM) by DRB-Hicom Bhd will complement the conglomerate's defence and automotive businesses, says DRB-Hicom Managing Director Tan Sri Mohd Kamil Jamil.

He said the company planned to use CTRM's expertise in composite materials and expand into the automotive and defence industries.

"We are looking at expanding the business of CTRM in the aviation, as well as, the aeronautical industry and combine that with the defence industry business.

"There are also opportunities for the composite industry in the automotive and defence businesses and that is one area, I reckon, we can improve on further in CTRM," he told Bernama during a visit to the national news agency on Wednesday.

However, Mohd Kamil said plans to integrate with the defence business did not mean CTRM would lose focus of the aviation industry.

"This is more to complement, as well as, expand and increase the business opportunities for CTRM," he said. Kamil also assured that the aviation business would remain CTRM's core business.

"We are going to improve and make sure we expand on the business," he added.

Last week, DRB-Hicom's wholly-owned unit, DRB-Hicom Defence Technologies Sdn Bhd (Deftech), proposed to acquire 96.87 per cent shares in CTRM, currently held by the Minister of Finance Incorporated, for RM298.26 million.