Motor Vehicle Sales Down 5 Per Cent In September 2009
KUALA LUMPUR, Oct 15 (Bernama) -- Motor vehicle sales volume in September 2009 was 2,469 units or five per cent lower than the previous month, the Malaysian Automotive Association (MAA) said Thursday.
The lower sales was attributed by the association to the short working month due to the Hari Raya festive holidays."Sales volume for October 2009 is expected to be maintained," MAA said in a statement Thursday.
Motor vehicle sales for September 2009 decreased by nine per cent to 46,069 units from 50,729 units in the same period last year, the association said.
Year-to-date September 2009 motor vehicle sales declined by seven per cent to 397,619 units from 429,913 units previously.
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Showing posts with label Industries~Auto. Show all posts
Showing posts with label Industries~Auto. Show all posts
Friday, October 30, 2009
Thursday, September 17, 2009
Auto Sales ~ August 09 : 48,538
KUALA LUMPUR, Sept 17
Sales of passenger cars and commercial vehicles in August rose 2.8 per cent, year-on-year, to 48,538 units, but compared to July this year, it was down by 3,390 units or 6.5 per cent.
MAA said the month-on-month decline was due to lower sales reported by Proton.
It said sales of passenger vehicles in August rose to 44,099 units from 42,864 units in the corresponding month, last year, while that of commercial vehicles rose to 4,439 units from 4,363 units.
For the eight months period to August this year, total industry volume fell to 351,550 units from 379,184 units in the same period last year.It said sales of passenger vehicles in the eight months period fell to 319,424 units from 345,917 units in the corresponding period last year.Sales of commercial vehicles dropped to 32,126 units from 33,267 units previously.
MAA said production of vehicles in August fell to 44,476 units from 46,316 units in the corresponding month last year.The association also said production of passenger vehicles in August fell to 40,865 units from 42,309 units in the corresponding month last year while that of commercial vehicles dropped to 3,611 units from 4,007 units.It said production of passenger vehicles in the eight months period fell to 293,175 units from 329,557 units recorded in the corresponding period last year, while that of commercial vehicles dropped to 28,216 units from 31,512 units.
MAA said sales volume for September is expected to be maintained as it will be a shorter working month due to the Hari Rara festive holidays.
-BERNAMA
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Sales of passenger cars and commercial vehicles in August rose 2.8 per cent, year-on-year, to 48,538 units, but compared to July this year, it was down by 3,390 units or 6.5 per cent.
MAA said the month-on-month decline was due to lower sales reported by Proton.
It said sales of passenger vehicles in August rose to 44,099 units from 42,864 units in the corresponding month, last year, while that of commercial vehicles rose to 4,439 units from 4,363 units.
For the eight months period to August this year, total industry volume fell to 351,550 units from 379,184 units in the same period last year.It said sales of passenger vehicles in the eight months period fell to 319,424 units from 345,917 units in the corresponding period last year.Sales of commercial vehicles dropped to 32,126 units from 33,267 units previously.
MAA said production of vehicles in August fell to 44,476 units from 46,316 units in the corresponding month last year.The association also said production of passenger vehicles in August fell to 40,865 units from 42,309 units in the corresponding month last year while that of commercial vehicles dropped to 3,611 units from 4,007 units.It said production of passenger vehicles in the eight months period fell to 293,175 units from 329,557 units recorded in the corresponding period last year, while that of commercial vehicles dropped to 28,216 units from 31,512 units.
MAA said sales volume for September is expected to be maintained as it will be a shorter working month due to the Hari Rara festive holidays.
-BERNAMA
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Friday, September 11, 2009
Perodua to See Better Sales In Third Quarter
KUALA LUMPUR, Sept 10 (Bernama) -- The coming festive season is likely to see increased sales in the third quarter of this year for Perodua Sales Sdn Bhd, the sales and distribution arm of Perusahaan Otomobil Kedua Sdn Bhd.
Perodua sold 77,000 cars in the first six months of this year, and expects better sales in the second half of 2009.
It is also understood that the upcoming launch of its multi-purpose vehicle (MPV) will also propel further the company's vehicle sales.
"The MPV will be launched in November and bookings will start in October," said Perodua Sales Director Ahmad Suhaimi Mohd Anuar here Thursday.
He was speaking to reporters after presenting the grand prize of a 1,100cc Perodua ViVA to university student Azizi Abdul Aziz who emerged winner in the "Jelajah 11 Era Bersama Perodua" competition organised jointly by Perodua and Airtime Management & Programming Sdn Bhd.
Perodua ViVA is the second most saleable car in Malaysia, after Perodua Myvi, with 68,000 units sold in 2008.
Since its launch in 2007, Perodua sold 157,000 units of the ViVA.
-- BERNAMA
Perodua sold 77,000 cars in the first six months of this year, and expects better sales in the second half of 2009.
It is also understood that the upcoming launch of its multi-purpose vehicle (MPV) will also propel further the company's vehicle sales.
"The MPV will be launched in November and bookings will start in October," said Perodua Sales Director Ahmad Suhaimi Mohd Anuar here Thursday.
He was speaking to reporters after presenting the grand prize of a 1,100cc Perodua ViVA to university student Azizi Abdul Aziz who emerged winner in the "Jelajah 11 Era Bersama Perodua" competition organised jointly by Perodua and Airtime Management & Programming Sdn Bhd.
Perodua ViVA is the second most saleable car in Malaysia, after Perodua Myvi, with 68,000 units sold in 2008.
Since its launch in 2007, Perodua sold 157,000 units of the ViVA.
-- BERNAMA
Proton in talks with VW again
This time the discussions are likely to centre on collaboration in platforms and engines
KUALA LUMPUR: Proton Holdings Bhd is in talks with Volkswagen (VW) that could lead to a strategic partnership and the assembly of vehicles at the national carmaker’s plant in Tanjung Malim. The partnership was not expected to see the German auto giant taking an equity stake in Proton but a collaboration in platforms and engines was likely being negotiated, said market sources. The talks between Proton and VW come at a time when DRB-HICOM Bhd is also engaged in discussions with the German company to assemble cars in Pekan. (See B2)
“For the long term of the company, it (Proton) needs a partner because the size of Malaysia’s market might not be enough to sustain an independent producer,’’ said UOB KayHian research head Vincent Khoo.
News that Proton is again in talks with VW is somewhat surprising as both parties have come to, and walked away, from the negotiating table numerous times. A couple of years ago, Proton came close to inking a deal with VW which would have seen the German company taking a stake in the national carmaker. A last-minute pitch by the Proton management to build on the company’s own “green shoots” then persuaded the Government from sealing an agreement with VW.
Proton found commercial success following the launch of the Persona but did not escape the global recession caused by the US financial crisis. Its finances have improved with the launch of the Exora and for its first quarter ended June 30, it reported a net profit of RM54.6mil. The company’s shares closed three sen lower at RM3.71 yesterday.
Now, however, the timing is different.
Proton has maintained it needs a strategic partner but would agree to one on its own terms.
It is also understood that the Government would like Proton to have a strategic partner before the review of the National Automotive Policy is completed.
VW’s interest in Malaysia, too, has grown over the past couple of years after equity stake talks with Proton ended. It has established its own sales and service business in Malaysia, and as of Sept 7, has seen the number of cars sold reach a total of 2,261 units after 2½ years of operations.
VW is reported to be looking at Malaysia as its sourcing hub for auto components in the region to fulfil its worldwide production and has intimated plans to expand its presence in the country through the local assembly of some of its cars. Volkswagen Group Malaysia Sdn Bhd managing director Andreas Prinz on Wednesday was quoted by Bernama as saying the group was also thinking of making Malaysia its hub for parts distribution in South-East Asia.
“They will not be looking only at Malaysia’s market but use Malaysia as a sourcing hub for worldwide production,’’ he said. VW is also interested in assembling cars in Malaysia and Prinz said the company was in discussion with a number of parties. “Currently, in the automotive industry, everybody is talking to everybody, but we are focusing on CKD,” he said.
Malaysia remains an important market in the region as it is the largest passenger car market in South-East Asia, which is said to be an attractive element for VW.
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KUALA LUMPUR: Proton Holdings Bhd is in talks with Volkswagen (VW) that could lead to a strategic partnership and the assembly of vehicles at the national carmaker’s plant in Tanjung Malim. The partnership was not expected to see the German auto giant taking an equity stake in Proton but a collaboration in platforms and engines was likely being negotiated, said market sources. The talks between Proton and VW come at a time when DRB-HICOM Bhd is also engaged in discussions with the German company to assemble cars in Pekan. (See B2)
“For the long term of the company, it (Proton) needs a partner because the size of Malaysia’s market might not be enough to sustain an independent producer,’’ said UOB KayHian research head Vincent Khoo.
News that Proton is again in talks with VW is somewhat surprising as both parties have come to, and walked away, from the negotiating table numerous times. A couple of years ago, Proton came close to inking a deal with VW which would have seen the German company taking a stake in the national carmaker. A last-minute pitch by the Proton management to build on the company’s own “green shoots” then persuaded the Government from sealing an agreement with VW.
Proton found commercial success following the launch of the Persona but did not escape the global recession caused by the US financial crisis. Its finances have improved with the launch of the Exora and for its first quarter ended June 30, it reported a net profit of RM54.6mil. The company’s shares closed three sen lower at RM3.71 yesterday.
Now, however, the timing is different.
Proton has maintained it needs a strategic partner but would agree to one on its own terms.
It is also understood that the Government would like Proton to have a strategic partner before the review of the National Automotive Policy is completed.
VW’s interest in Malaysia, too, has grown over the past couple of years after equity stake talks with Proton ended. It has established its own sales and service business in Malaysia, and as of Sept 7, has seen the number of cars sold reach a total of 2,261 units after 2½ years of operations.
VW is reported to be looking at Malaysia as its sourcing hub for auto components in the region to fulfil its worldwide production and has intimated plans to expand its presence in the country through the local assembly of some of its cars. Volkswagen Group Malaysia Sdn Bhd managing director Andreas Prinz on Wednesday was quoted by Bernama as saying the group was also thinking of making Malaysia its hub for parts distribution in South-East Asia.
“They will not be looking only at Malaysia’s market but use Malaysia as a sourcing hub for worldwide production,’’ he said. VW is also interested in assembling cars in Malaysia and Prinz said the company was in discussion with a number of parties. “Currently, in the automotive industry, everybody is talking to everybody, but we are focusing on CKD,” he said.
Malaysia remains an important market in the region as it is the largest passenger car market in South-East Asia, which is said to be an attractive element for VW.
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Wednesday, September 9, 2009
AmResearch Bullish on Tan Chong
AmResearch turns bullish on Tan Chong
Written by The Edge Financial Daily
Wednesday, 09 September 2009 11:30
AMResearch has upgraded Tan Chong Motor Bhd to a buy at RM2.01 from a hold yesterday, due to improved industry earnings forecasts and the automotive maker’s strategic positioning.The research house pegged Tan Chong’s fair value at RM2.70, up from RM1.72 previously, based on upward revisions to earnings forecasts and valuation multiples — to nine times earnings from eight times).
“We have revised up our forecasts by 10%-39% over FY09-11F to factor in contribution from new models and stronger-than-expected volume during 1H09,” AmResearch said.“We expect Tan Chong to register a 23% earnings growth in FY10, to be driven by margin expansion as a result of the introduction of higher end D-segment models, which typically entails high margins but low volumes.”
AmResearch noted that its projections stood 7%-13% above consensus, which it said underestimated the “immense earnings potential from a strategic expansion in Tan Chong’s business model from FY10 onwards”.The research house said its investment recommendation on Tan Chong was based on several factors including the recovery of the domestic auto sector, strategic expansion in model mix leading to market share increase, an upward earnings revision cycle, the unlocking of asset value and the company’s present depressed valuation.
“We have turned bullish on Tan Chong on prospects of an improvement in the broader auto industry,” AmResearch said in a note yesterday. “We think total industry volume (TIV) bottomed out in mid-2009.”AmResearch said that Tan Chong has brought forward the introduction of its completely knocked down (CKD) models to 2010, although launches of new marques would be limited to higher-end models. These new marques include the Teana, a luxury sedan, and an undisclosed crossover model.
“With a typical lifespan of five years before a full model change, we think the launch of the Teana is rather nicely timed as initial euphoria over existing D-segment competitors would have toned down, meaning consumers in this segment are ready for a new model in the market,” it added. Moreover, the research outfit said it believed that Tan Chong’s market share would see a “quantum leap” based on the introduction of new models, which would see launches in A- and B-segment models of cars.
AmResearch also commented positively on the fact that Tan Chong has registered a 0.5% growth in sales of Nissan cars compared to an industry year-to-date (YTD) contraction of 10%. An expected revaluation of Tan Chong’s land in Segambut was also expected to result in gains of RM188 million after the automotive manufacturer adopts new accounting policy FRS 39.The gain in its asset value would increase Tan Chong’s borrowing capacity as its books would increase by 11% to RM1.8 billion, the research house said.Tan Chong rose six sen to close at RM2.02 yesterday.
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Written by The Edge Financial Daily
Wednesday, 09 September 2009 11:30
AMResearch has upgraded Tan Chong Motor Bhd to a buy at RM2.01 from a hold yesterday, due to improved industry earnings forecasts and the automotive maker’s strategic positioning.The research house pegged Tan Chong’s fair value at RM2.70, up from RM1.72 previously, based on upward revisions to earnings forecasts and valuation multiples — to nine times earnings from eight times).
“We have revised up our forecasts by 10%-39% over FY09-11F to factor in contribution from new models and stronger-than-expected volume during 1H09,” AmResearch said.“We expect Tan Chong to register a 23% earnings growth in FY10, to be driven by margin expansion as a result of the introduction of higher end D-segment models, which typically entails high margins but low volumes.”
AmResearch noted that its projections stood 7%-13% above consensus, which it said underestimated the “immense earnings potential from a strategic expansion in Tan Chong’s business model from FY10 onwards”.The research house said its investment recommendation on Tan Chong was based on several factors including the recovery of the domestic auto sector, strategic expansion in model mix leading to market share increase, an upward earnings revision cycle, the unlocking of asset value and the company’s present depressed valuation.
“We have turned bullish on Tan Chong on prospects of an improvement in the broader auto industry,” AmResearch said in a note yesterday. “We think total industry volume (TIV) bottomed out in mid-2009.”AmResearch said that Tan Chong has brought forward the introduction of its completely knocked down (CKD) models to 2010, although launches of new marques would be limited to higher-end models. These new marques include the Teana, a luxury sedan, and an undisclosed crossover model.
“With a typical lifespan of five years before a full model change, we think the launch of the Teana is rather nicely timed as initial euphoria over existing D-segment competitors would have toned down, meaning consumers in this segment are ready for a new model in the market,” it added. Moreover, the research outfit said it believed that Tan Chong’s market share would see a “quantum leap” based on the introduction of new models, which would see launches in A- and B-segment models of cars.
AmResearch also commented positively on the fact that Tan Chong has registered a 0.5% growth in sales of Nissan cars compared to an industry year-to-date (YTD) contraction of 10%. An expected revaluation of Tan Chong’s land in Segambut was also expected to result in gains of RM188 million after the automotive manufacturer adopts new accounting policy FRS 39.The gain in its asset value would increase Tan Chong’s borrowing capacity as its books would increase by 11% to RM1.8 billion, the research house said.Tan Chong rose six sen to close at RM2.02 yesterday.
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Tuesday, September 8, 2009
Perodua on track to achieve 2009 sales target
Tuesday July 21, 2009
Perodua on track to achieve 2009 sales target
By EUGENE MAHALINGAM
RAWANG: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is on track to sell 158,000 vehicles this year despite the current economic downturn, says managing director Syed Hafiz Syed Abu Bakar.
For the first-half year, Perodua sold 77,000 units (or 49%) of its 2009 sales target.
“We expect better sales in the second half of the year, especially with the festive season like Hari Raya when sales usually pick up,” he said at the Perodua Kancil phase-out and Viva 660 BX (Basic) line-off ceremony yesterday.
“In November, we will also launch our multi-purpose vehicle (MPV) and we will start accepting bookings from October.” Syed Hafiz said the impact of the Government’s stimulus package would be more visible in the second half.
He said the low interest rates and strong financial system in Malaysia would make for a conducive environment for buying cars.
“Things are getting better for the local automotive industry,” he said.
Perodua yesterday rolled out its final Kancil, after 15 years of production. Since its launch in August 1994, 722,223 units have been produced and 708,000 units sold in Malaysia.
Syed Hafiz said the phasing out of the Kancil was a long time coming, in light of the technological advancements that were made since the car was introduced. Initially, an average of 4,000 units were sold monthly. In October 2002, the company registered its highest sales with 7,700 units.
Its best seller now is the Perodua Myvi, which accounts for about 53% of total sales, followed by Viva with 42%. Lately, Kancil averaged monthly sales between 500 and 800 units.
“The compact wonder had a very good run but all good things must come to an end,” Syed Hafiz said.
Perodua also launched its Viva 660 BX (Basic) yesterday, which will be its new entry-level vehicle and the “replacement car” for Kancil. The new Viva is available in three colours and costs RM25,300 (on-the-road, with insurance) and only available in manual transmission. Syed Hafiz said he was optimistic about the response for the new Viva.
On the Perodua MPV, he hinted that it would be priced between RM56,000 and RM67,000, available in both manual and automatic transmission and powered by a 1.5-litre engine.
The MPV would be targeted at both first-time buyers and “individuals with families,” he said, adding: “It is a car when you want it and an MPV when you need it.”
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Perodua on track to achieve 2009 sales target
By EUGENE MAHALINGAM
RAWANG: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is on track to sell 158,000 vehicles this year despite the current economic downturn, says managing director Syed Hafiz Syed Abu Bakar.
For the first-half year, Perodua sold 77,000 units (or 49%) of its 2009 sales target.
“We expect better sales in the second half of the year, especially with the festive season like Hari Raya when sales usually pick up,” he said at the Perodua Kancil phase-out and Viva 660 BX (Basic) line-off ceremony yesterday.
“In November, we will also launch our multi-purpose vehicle (MPV) and we will start accepting bookings from October.” Syed Hafiz said the impact of the Government’s stimulus package would be more visible in the second half.
He said the low interest rates and strong financial system in Malaysia would make for a conducive environment for buying cars.
“Things are getting better for the local automotive industry,” he said.
Perodua yesterday rolled out its final Kancil, after 15 years of production. Since its launch in August 1994, 722,223 units have been produced and 708,000 units sold in Malaysia.
Syed Hafiz said the phasing out of the Kancil was a long time coming, in light of the technological advancements that were made since the car was introduced. Initially, an average of 4,000 units were sold monthly. In October 2002, the company registered its highest sales with 7,700 units.
Its best seller now is the Perodua Myvi, which accounts for about 53% of total sales, followed by Viva with 42%. Lately, Kancil averaged monthly sales between 500 and 800 units.
“The compact wonder had a very good run but all good things must come to an end,” Syed Hafiz said.
Perodua also launched its Viva 660 BX (Basic) yesterday, which will be its new entry-level vehicle and the “replacement car” for Kancil. The new Viva is available in three colours and costs RM25,300 (on-the-road, with insurance) and only available in manual transmission. Syed Hafiz said he was optimistic about the response for the new Viva.
On the Perodua MPV, he hinted that it would be priced between RM56,000 and RM67,000, available in both manual and automatic transmission and powered by a 1.5-litre engine.
The MPV would be targeted at both first-time buyers and “individuals with families,” he said, adding: “It is a car when you want it and an MPV when you need it.”
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Sunday, September 6, 2009
MBMR ~ highlight : 09 Q2
6 Aug 09
MBMR Board of Directors
QUARTERLY ANNOUNCEMENT
for the second quarter ended 30/06/2009
Highlights
• Revenues and profits were lower during the quarter compared with last year
but quarter-on-quarter performance improved.
• The high Japanese Yen continue to have a negative impact on operating
margins compared to last year but the pressure on a quarter-to-quarter basis
has eased.
• Volume sales recovered during the quarter with orders showing encouraging
prospects for the coming months.
• The manufacturing operations enjoyed strong deliveries as the major customers
increase production in line with improved market conditions. Price adjustments
and lower material costs helped with some margin recovery.
• Associate contribution was lower due to the high Japanese Yen and reduced
volumes but profits were substantially higher than that for the 1st quarter.
• Dividend of 3.0 sen declared against 6.0 sen (excluding special dividend) last
year.
Overview
The Malaysian motor total industry volume (TIV) of sales by registration declined in the second quarter of 2009 by 10.0% compared against the same period of 2008, but improved by 11.6%
over the preceding quarter.
Overall, the TIV for the first 6 months' sales by registration declined 9.7% compared to the
same period of 2008.
Group Financial Performance
Group revenue declined by 11.1% to RM272.9 million.
Operating profit declined by 45.3% toRM9.99 million,
whilst share of results of associated companies declined by 40.0% to RM11.09million.
Net profit attributable to equity holders declined by 45.7% to RM13.9 million.
The group's net cash position (after total borrowings) fell to RM70.9 million as at 30 June 2009
compared with RM111.9 million as at 30 June 2008.
Group revenue improved by 7.9%.
Similarly, both operating profit and share of associated companies improved by 65.7% and 81.4% respectively.
Net profit attributable to equity holdersimproved by 49.0%.
The group’s net cash position (after total borrowings) improved to RM70.9 million as at 30 June 2009 compared with RM54.7 million as at the end of 31 March 2009.
Net assets per share improved to RM3.54 as at the end of June 2009 from RM3.51 as at
preceding financial year end.
Group Business Performance
Performance of sales by operations
Group revenue declined by 11.1% to RM272.9 million.
Operating profit declined by 45.3% to RM9.99 million,
whilst share of results of associated companies declined by 40.0% to RM11.09 million.
Net profit attributable to equity holders declined by 45.7% to RM13.9 million.
The group's net cash position (after total borrowings) fell to RM70.9 million as at 30 June 2009
compared with RM111.9 million as at 30 June 2008.
Group revenue improved by 7.9%.
Similarly, both operating profit and share of associated companies improved by 65.7% and 81.4% respectively.
Net profit attributable to equity holdersimproved by 49.0%.
The group’s net cash position (after total borrowings) improved to RM70.9 million as at 30 June
2009 compared with RM54.7 million as at the end of 31 March 2009.
Net assets per share improved to RM3.54 as at the end of June 2009 from RM3.51 as at
preceding financial year end.
*
MBMR Board of Directors
QUARTERLY ANNOUNCEMENT
for the second quarter ended 30/06/2009
Highlights
• Revenues and profits were lower during the quarter compared with last year
but quarter-on-quarter performance improved.
• The high Japanese Yen continue to have a negative impact on operating
margins compared to last year but the pressure on a quarter-to-quarter basis
has eased.
• Volume sales recovered during the quarter with orders showing encouraging
prospects for the coming months.
• The manufacturing operations enjoyed strong deliveries as the major customers
increase production in line with improved market conditions. Price adjustments
and lower material costs helped with some margin recovery.
• Associate contribution was lower due to the high Japanese Yen and reduced
volumes but profits were substantially higher than that for the 1st quarter.
• Dividend of 3.0 sen declared against 6.0 sen (excluding special dividend) last
year.
Overview
The Malaysian motor total industry volume (TIV) of sales by registration declined in the second quarter of 2009 by 10.0% compared against the same period of 2008, but improved by 11.6%
over the preceding quarter.
Overall, the TIV for the first 6 months' sales by registration declined 9.7% compared to the
same period of 2008.
Group Financial Performance
Group revenue declined by 11.1% to RM272.9 million.
Operating profit declined by 45.3% toRM9.99 million,
whilst share of results of associated companies declined by 40.0% to RM11.09million.
Net profit attributable to equity holders declined by 45.7% to RM13.9 million.
The group's net cash position (after total borrowings) fell to RM70.9 million as at 30 June 2009
compared with RM111.9 million as at 30 June 2008.
Group revenue improved by 7.9%.
Similarly, both operating profit and share of associated companies improved by 65.7% and 81.4% respectively.
Net profit attributable to equity holdersimproved by 49.0%.
The group’s net cash position (after total borrowings) improved to RM70.9 million as at 30 June 2009 compared with RM54.7 million as at the end of 31 March 2009.
Net assets per share improved to RM3.54 as at the end of June 2009 from RM3.51 as at
preceding financial year end.
Group Business Performance
Performance of sales by operations
Group revenue declined by 11.1% to RM272.9 million.
Operating profit declined by 45.3% to RM9.99 million,
whilst share of results of associated companies declined by 40.0% to RM11.09 million.
Net profit attributable to equity holders declined by 45.7% to RM13.9 million.
The group's net cash position (after total borrowings) fell to RM70.9 million as at 30 June 2009
compared with RM111.9 million as at 30 June 2008.
Group revenue improved by 7.9%.
Similarly, both operating profit and share of associated companies improved by 65.7% and 81.4% respectively.
Net profit attributable to equity holdersimproved by 49.0%.
The group’s net cash position (after total borrowings) improved to RM70.9 million as at 30 June
2009 compared with RM54.7 million as at the end of 31 March 2009.
Net assets per share improved to RM3.54 as at the end of June 2009 from RM3.51 as at
preceding financial year end.
*
Auto Sales ~ July 09 : 51,928
KUALA LUMPUR, Aug 21 (Bernama) --
Total vehicle sales in July rose by 14.7 per cent to 51,928 units as compared with June
but year to-date market continues to register 8.71 per cent contraction.
In July last year, total vehicle sales was 53,984 units.
Sales up to July 2009 was 303,012 units versus 331,957 units sold in the first seven months of 2008, said Malaysian Automotive Association (MAA).
Of the total July sales, 47,126 units were passenger vehicles and the remaining 4,802 units were commercial vehicles, said MAA in a statement Friday.
Production in July also dropped by 8.65 per cent to 47,073 units from 51,531 units in July 2008 while year to-date production only declined by 12.02 per cent to 276,915 units from 314,753 units last year.
Of the total vehicles produced in July 2009, 43,238 units were passenger vehicles while the remaining 3,835 units were commercial vehicles.
MAA said sales volume for August 2009 is expected to be maintained amid positive consumer sentiment and festive offers in conjunction with Hari Raya.
-- BERNAMA
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Total vehicle sales in July rose by 14.7 per cent to 51,928 units as compared with June
but year to-date market continues to register 8.71 per cent contraction.
In July last year, total vehicle sales was 53,984 units.
Sales up to July 2009 was 303,012 units versus 331,957 units sold in the first seven months of 2008, said Malaysian Automotive Association (MAA).
Of the total July sales, 47,126 units were passenger vehicles and the remaining 4,802 units were commercial vehicles, said MAA in a statement Friday.
Production in July also dropped by 8.65 per cent to 47,073 units from 51,531 units in July 2008 while year to-date production only declined by 12.02 per cent to 276,915 units from 314,753 units last year.
Of the total vehicles produced in July 2009, 43,238 units were passenger vehicles while the remaining 3,835 units were commercial vehicles.
MAA said sales volume for August 2009 is expected to be maintained amid positive consumer sentiment and festive offers in conjunction with Hari Raya.
-- BERNAMA
*
Saturday, September 5, 2009
Ingress sees drop in Q2 net profit
Saturday September 5, 2009
Ingress sees drop in Q2 net profit
PETALING JAYA: Ingress Corp Bhd reported a 40% drop in net profit to RM2.95mil in the second quarter ended July 31, despite its revenue growing to RM177.7mil against RM155.54mil a year ago.
The group’s automotive division posted higher revenue of RM157mil during the period, but recorded lower profits. The company did not elaborate on why its operating margin had contracted during the quarter compared with the previous corresponding period.
Meanwhile, its power engineering and project (PEP) division made a slight loss before tax of RM0.5mil.
Ingress said it expected revenue from its automotive parts division would continue to rise, while sales volume from its premium car dealership was also projected to grow.
However, its overseas operations in Thailand and Indonesia may see lower sales.
“For PEP division, new awards are expected to materialise,” the company told Bursa Malaysia yesterday.
*
Ingress sees drop in Q2 net profit
PETALING JAYA: Ingress Corp Bhd reported a 40% drop in net profit to RM2.95mil in the second quarter ended July 31, despite its revenue growing to RM177.7mil against RM155.54mil a year ago.
The group’s automotive division posted higher revenue of RM157mil during the period, but recorded lower profits. The company did not elaborate on why its operating margin had contracted during the quarter compared with the previous corresponding period.
Meanwhile, its power engineering and project (PEP) division made a slight loss before tax of RM0.5mil.
Ingress said it expected revenue from its automotive parts division would continue to rise, while sales volume from its premium car dealership was also projected to grow.
However, its overseas operations in Thailand and Indonesia may see lower sales.
“For PEP division, new awards are expected to materialise,” the company told Bursa Malaysia yesterday.
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