Who owns MODENAS?
MODENAS is owned by DRB-HICOM (Malaysia, Bursa Malaysia: DRBHCOM).[1]
DRB-HICOM owns 70% of MODENAS rather than all of it.
This ownership is reported in official statements but has not yet been matched to a regulatory filing.
Evidence: DRB-HICOM Berhad Integrated Annual Report 2025. Last checked .
Key facts
- Current owner
- DRB-HICOM Berhad (70% stake) reported
- Owner HQ
- 🇲🇾 Malaysia, Shah Alam, Selangor
- Origin
- 🇲🇾 Malaysia, Gurun, Kedah
- Founded
- 1995
- Category
- Automotive › Motorcycles
- Parent ticker
- Bursa Malaysia: DRBHCOM
- Last verified
- · 1 sources
About MODENAS
MODENAS is Malaysia's national motorcycle manufacturer, building machines from 110cc to 1100cc at Gurun in Kedah and selling more than 45,000 units in 2025, over 17,000 of them exported to the Philippines, China, Thailand and the Middle East. It marked its thirtieth anniversary during the year with the ELIT 150S scooter and launched the Z15GT, which it calls the first fully Malaysian-developed supermoped, engineered by a Malaysian team to a 78 per cent localisation rate. Its range also carries Kawasaki and Kymco models under collaborations with both. DRB-HICOM accounts for its 70 per cent holding as a joint venture rather than a subsidiary.
Ownership timeline of MODENAS
Where MODENAS sits in DRB-HICOM
Controlling ownership as of . Brands grouped under the entity that owns them; large groups are collapsed.
Open the full DRB-HICOM ownership tree →
See the full DRB-HICOM brand portfolio (2) →
Other brands owned by DRB-HICOM
DRB-HICOM controls 2 brands on Brandtree, 2 of them in automotive.
Also in automotive
Other brands in motorcycles, and who owns them
The 52 brands in motorcycles on Brandtree belong to 12 owners. The largest is Bajaj Auto, with 13.
| Brand | Owner | Owner based in |
|---|---|---|
| Avenger | Bajaj Auto | 🇮🇳 India |
| Destini | Hero MotoCorp | 🇮🇳 India |
| Norton Motorcycles | TVS Motor | 🇮🇳 India |
| Can-Am Off-Road | BRP | 🇨🇦 Canada |
| Ape | Piaggio | 🇮🇹 Italy |
| BSA | Mahindra & Mahindra | 🇮🇳 India |
| BMW Motorrad | BMW Group | 🇩🇪 Germany |
| GWM SOUO | Great Wall Motor | 🇨🇳 China |
About the owner: DRB-HICOM
DRB-HICOM is a publicly listed company headquartered in Shah Alam, Selangor, Malaysia. Brandtree records 2 brands under its control, and it is listed as Bursa Malaysia: DRBHCOM.
DRB-HICOM is one of Malaysia's most diversified groups, running 93 operating companies and 42,700 employees across five segments: Mobility, Banking, Postal, Services and Properties. Mobility is much the largest, contributing RM12.79 billion of the group's RM17.31 billion of 2025 revenue, and covers vehicle assembly, component manufacturing, retail, financing and after-sales alongside CTRM, a Tier 1 supplier of aerospace structures to Airbus and Boeing, and DEFTECH, which builds armoured vehicles and unmanned aerial systems. Most of what it owns is infrastructure rather than branded goods — the national postal operator Pos Malaysia at 53.5 per cent, the Islamic bank Bank Muamalat at 70 per cent, PUSPAKOM, which it describes as Malaysia's first licensed vehicle inspection company — so the two consumer marques it controls, PROTON and MODENAS, are both national champions of Malaysian industrial policy.
🇲🇾 MODENAS and other Malaysian brands
Brandtree records a controlling owner for 71 brands that began in Malaysia. 11 of them (15%) are now controlled by a company headquartered in another country; MODENAS is not one of them.
Frequently asked questions
Who is the parent company of MODENAS?
The parent company of MODENAS is DRB-HICOM, a publicly listed company headquartered in Malaysia.
Is MODENAS Malaysian?
Yes. MODENAS originated in Malaysia in 1995 and its owner, DRB-HICOM, is also headquartered in Malaysia.
Is MODENAS still owned by DRB-HICOM?
Yes. As of 25 September 2026, MODENAS is still owned by DRB-HICOM (70% stake). The ownership record was last checked against primary sources on that date.
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] DRB-HICOM Berhad Integrated Annual Report 2025 — DRB-HICOM Berhad, Annual report; retrieved 25 September 2026.
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