Malaysia-Saudi JV eyes airport services deal
Kuala Lumpur, February 21, 2013
Malaysian automotive-to-insurance conglomerate DRB-Hicom Bhd said on Thursday it had teamed up with Saudi International Trading and Marketing (SITM) to bid for airport ground handling services in Saudi Arabia.
DRB-Hicom, owned by Malaysian tycoon Syed Mokhtar Al-Bukhary, said the collaboration would enable the business to expand its overseas operations.
The company has signed a memorandum of understanding with SITM through its wholly-owned subsidiary KL Airport Services, it said in a stock exchange filing on Thursday.
The companies will do a feasibility study and submit their bid when they have received an invitation from the General Authority of Civil Aviation of Saudi Arabia.
DRB-Hicom did not reveal the potential value of the handling services contract. - Reuters
