TANJONG MALIM, October 12 – A significant milestone was achieved today for the Automotive Hi-Tech Valley (“AHTV”) with the signing of the Master Collaboration Agreement (“MCA”) between DRB-HICOM Berhad (“DRB-HICOM”) and Zhejiang Geely Holding Group Co. Ltd. (“Geely Holding”). The signing ceremony was held at PROTON Tanjong Malim and marked a pivotal moment in the AHTV project. Encik Azri Zaharuddin, Group Chief Operating Officer of Properties and Corporate Planning & Strategy, signed on behalf of DRB-HICOM, while Dr. Wei Mei, Senior Vice President and Chief Operating Officer, represented Geely Holding.
The ceremony was witnessed by Prime Minister YAB Dato’ Seri Anwar Ibrahim, along with key officials, including YB Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz as Minister of Investment, Trade & Industry, YB Chang Lih Kang as Minister of Science, Technology and Innovation, YAB Dato’ Seri Saarani Mohamad as Chief Minister of Perak, Mr. Eric Li as Chairman of Geely Holding, and Syed Faisal Albar as Chairman of PROTON. The MCA establishes the fundamental principles, governance framework, and shared commitment for the AHTV project, outlining specific roles for development and promotional activities.
This agreement signifies a significant step forward in the collaboration between DRB-HICOM and Geely Holding. It follows the earlier signing of the Heads of Agreement (“HOA”) between the two companies at the Malaysia-China Business Forum in Beijing earlier this year. In addition to the MCA, another crucial agreement was signed during the event. Altel Communications Sdn. Bhd. (“Altel”) and Geely Holding’s strategically invested Zhejiang Geespace Technology Co. Ltd. (“Geespace”) signed an HOA focusing on high-technology systems’ development and implementation, expediting innovative solutions, especially within sectors like smart ports.
Mr. Richard Kitts, Group Chief Executive Officer of Altel, and Mr. Tony Wang, Chief Executive Officer of Geespace, represented their respective organizations. Highlighting the strategic significance of AHTV, YAB Dato’ Seri Anwar Ibrahim chaired a high-level AHTV Project Development Meeting prior to the signing of these agreements. The meeting included senior members of the AHTV Project team and Federal and State Government officials. AHTV is poised to attract investments, both domestically and internationally, positioning itself as an international automotive hub for New Energy Vehicles (NEV).
Its focus extends beyond automobile production to encompass the manufacturing of high-technology components and parts for NEVs. This move will further enhance the capabilities of local vendors in high-technology manufacturing, marking a significant step toward automotive innovation and sustainable growth.
