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RHB Research keeps Buy on DRB-Hicom, Berjaya Auto, Tan Chong
by hlk Fri 21 Feb 2014, 11:15
KUALA LUMPUR: RHB Research expects the Malaysian automotive market to show resilience in 2014 after a slow start in January.
It said on Friday January’s total industry volume of 50,723 units was 16.9% and 8.7% lower on-month and on-year respectively.
“We opine that the market suffered a hangover after the heavy discounting and promotions offered in December 2013.
“However, we expect the automotive market to show resilience in 2014 and maintain our BUY calls on DRB-Hicom, Berjaya Auto and Tan Chong. Neutral,” it said.
It said on Friday January’s total industry volume of 50,723 units was 16.9% and 8.7% lower on-month and on-year respectively.
“We opine that the market suffered a hangover after the heavy discounting and promotions offered in December 2013.
“However, we expect the automotive market to show resilience in 2014 and maintain our BUY calls on DRB-Hicom, Berjaya Auto and Tan Chong. Neutral,” it said.
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