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RHB Sector Update (AUTO) - 13 July 2012
by hlk Fri 13 Jul 2012, 11:16
Sector Update
Auto – Sales Recovering Nicely Neutral
MBM Resources: Fair value RM4.20 Outperform
Tan Chong: Fair value RM4.60 Market Perform
DRB-HICOM Fair value RM3.35 Outperform
Source: RHB Research - 13 July 2012
Auto – Sales Recovering Nicely Neutral
MBM Resources: Fair value RM4.20 Outperform
Tan Chong: Fair value RM4.60 Market Perform
DRB-HICOM Fair value RM3.35 Outperform
Auto
sales recorded a strong recovery in 2Q12 from the weak start to the
year caused by the Bank Negara Malaysia (BNM) lending guidelines and
supply disruptions from the flooding in Thailand.
Auto
sales in May recorded its best month for the year to date. Malaysian
Automotive Association (MAA) data show total industry volumes (TIV) for
May of 58,299 units that is 22.1% and 26.6% up mom and yoy
respectively. Anecdotal evidence continues to suggest another strong
month for auto sales in Jun. We maintain our 612,000 unit (+2% yoy) TIV
forecast for 2012.
Source: RHB Research - 13 July 2012
hlk- Moderator
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