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Overview
Financial Highlight
HeadlinesBusiness Background Bermaz Auto Bhd along with its subsidiaries is engaged in the distribution and retailing of Mazda vehicles as well as providing after-sales services for Mazda vehicles in Malaysia and Philippines.
  godhand its because of 1 time zero tax event. this is a one off event do not need to be so excited 13/12/2018 8:55 AM LouiseS This counter is strongly supported by institutional investors, more than 75% of top 30 major shareholders are made up of institutional investors, including EPF, few insurance companies, investment funds, permodalan nasional berhad, skim amanah saham bumiputera and so on. https://louisesinvesting.blogspot.com/2018/12/comments-on-bermaz-auto-berhad-5248.html 29/12/2018 4:20 PM don_buy Penang Bridge crash: Operation to retrieve SUV postponed, body spotted in vehicle (updated) Read more at https://www.thestar.com.my/news/nation/2019/01/21/penang-bridge-crash-operation-to-retrieve-suv-postponed/#Furpkc0iO1xxrDMb.99 21/01/2019 11:02 PM  James Ng https://klse.i3investor.com/blogs/general/190926.jsp [转贴] [Facebook live:浅谈Bermaz Auto bhd (BAuto)] - James的股票投资James Share Investing 22/01/2019 9:36 AM RainT funny mazda car crash in Penang bridge also link to BAUTO company the crash is because a irresponsible driver crash the MAZDA, not the MAZDA car problem 01/02/2019 11:17 AM RainT @Louises Many counters also supported by big funds, EPF, KWAP, Tabung Haji, insurance funds, mutual funds but some also lau sai supported by big funds not means is good & at the same time also not means is bad 01/02/2019 11:19 AM AndK https://paultan.org/2019/02/26/malaysian-vehicle-sales-data-for-jan-2019-by-brand/ 27/02/2019 5:55 PM commonsense Hi guys, An investor made an inaccurate comparaison between Bauto and MBMR. Sharing my views for the benefit of others as well. Regards Hi vincent, It's actually incorrect to say BAuto is cheaper than MBMR. When valuing a company, you need to compare the company's market capitalisation with the earnings that its generating. This can be done using the PE multiple (Share price /Earnings per share). BAuto share price of RM2.19 is earning a total of 19.08 sens in the past 12 months. This translate to a PE multiple of 11.5x. MBMR share price of rm2.63 is earning a total of 42.35 sens in the past 12 months. This translate to a PE of only 6.2x. As u can see MBMR is actually "cheaper" than BAuto by almost half. Another metrics that u can use is the PB (price over Net Tangible Assets). For every Rm2.19 share of BAuto, it is being backed by an NTA of 44 sens. This equals to 4.9x PB. For every Rm2.63 share of MBMR, it is being backed by an NTA of rm4.04 per share. This translate to a PB of less than 0.7x. Using the PB metrics, u can see that MBMR is still a lot "cheaper" than BAuto. Regards. 08/03/2019 06:04 08/03/2019 9:17 AM James Ng https://klse.i3investor.com/blogs/general/198030.jsp [转贴] [BERMAZ AUTO BHD：马来西亚新款Mazda3和CX-8车型的预期推出可能会减轻挑战，Bermaz Auto Philippines Inc.寻求通过经销商数量的增长来保持其销量] - James的股票投资James Share Investing 15/03/2019 11:38 AM James Ng https://klse.i3investor.com/blogs/general/199346.jsp [转贴] [Facebook live:浅谈Bermaz Auto bhd (BAuto)] - James的股票投资James Share Investing 25/03/2019 9:51 AM Alex Lim Hi anyone attended the Bauto AGM before? Is there any discount voucher for Mazda car purchase as a public shareholder? 27/03/2019 1:40 PM  YAPSS Day 24 of Fundamental Daily, YAPSS will be covering Bermaz Auto Berhad's fundamental via a short animated video. I hope it helps and please enjoy the video, see ya! #FundamentalDaily #BermazAutoBerhad Click the on the link below to find out more: https://www.youtube.com/watch?v=02cAN3jEr00 27/03/2019 5:21 PM newinvestor17 Been collecting BAUTO since around RM1.97/1.99 and I'm happy with the performance of this counter, lets see if I should continue holding or take profit. 29/03/2019 4:21 PM  unclelimhuat Bermaz Auto - Looking to Sustain Record FY19F Performance Date: 25/04/2019 Source : MIDF Stock : BAUTO Price Target : 2.85 | Price Call : BUY Last Price : 2.38 | Upside/Downside : +0.47 (19.75%) Back INVESTMENT THESIS New launches to sustain strong FY19F TIV in FY20F Eyeing >50% FY20F export growth and 9% overall volume growth for manufacturing unit Special dividends in the offing; current yield of 7% already attractive Re-affirm BUY at unchanged TP of RM2.85 Price hike. After raising pricing for the new CX5 by RM2,000 in Jan18 BAuto will raise pricing for all its models by RM2,000 (including the CX5) effective Jan19. In return, consumers will be getting an extra 2 years of warranty and free servicing (from the original 3 years). This should be positive for margins but the impact is spread over the 5-year period as after sales service revenue is recognised based on periodic maintenance schedules of the vehicles. BAuto generates up to 50% margins on aftersales service vs. an estimated 30% gross margin on vehicle sales. Bookings remain decent. Total outstanding bookings stand at 1500 units with 65%-70% of this comprising the CX5. Around 800 of the outstanding bookings came in the month of April. BAuto completed deliveries of bookings tied to its SST-rebate promo in Jan19. Volumes are expected to normalise from 4QFY19 onwards but with a marginal improvement in margins. Net cost of the SST-rebate is estimated at RM1000-1500/unit. New launches to sustain strong FY19 TIV. BAuto expects to at least maintain FY19F TIV of 15K-16K units in FY20F. Despite the inflated base driven by the tax-holiday in Jun18-Aug18, volumes will be driven by a pipeline of new launches namely the all new CX8 in Oct19/Nov19, CX30 sometime in 2HFY20 and the Mazda 3 in Jun19. Key volume drivers will come from the CX8 and the CX30 if it is locally assembled. A CKD CX30 might cannibalise the CX5 to a certain extent if pricing can be brought lower than the expected CBU pricing of RM140K-RM145K. Special dividends in the offing? Given sharply improved earnings driven by the new CX5 and an exceptional boost from the tax-holiday in FY19F, we think there is room for a special dividend that could lift payout above our current 80% assumption, which already implies attractive yields of 7%. This should be backed by a strong balance sheet (FY19F net cash: RM270m) and FY19F FCF yield of 9%. BAuto is an asset light cash cow with little further equity investments required for its 30%-owned manufacturing unit. Goodies from NAP? The Malaysian Robotics & IoT Institute (MARii) has been taking feedbacks from industry players in regards to the upcoming NAP (National Automotive Policy) review. We understand that part of BAuto’s wish list is for incentives for CBU exports, which would predominantly revolve around some sort of duty reduction/discount. BAuto is currently Malaysia’s largest CBU exporter with an estimated 6987 export units as of 9MFY19 comprising of the CX5 model. Its 2nd export model, the CX8 is expected to commence from 2HFY20. If successful, this could be an earnings re-rating catalyst. Source: MIDF Research - 25 Apr 2019 29/04/2019 2:41 PM Got Offfer From UBS Shanghai - Bye Bye Follow PUNTER IB sure okay one lah, lai let PUNTER IB give you all a list of good stock picks: 1. Econpile 2. Hartalega 3. Uchitec 4. United Plantations 5. Serba Dinamik 6. Bermaz Auto 7. QL Resources Mostly I would say holding period of at least 9 months to 1 year, not the kind of quick money but the slow and steady kind. Won't give you heart attack. Wait after I graduate I will take time to write out the rationales behind these picks. No need follow other IBs, just one PUNTER IB is enough. Most importantly, if I cease coverage I will give reason behind it or make a SELL call, won't be like those disappear suddenly. 03/05/2019 12:39 PM  |
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