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Overview
Financial Highlight
HeadlinesBusiness Background MBM Resources Bhd is a Malaysian company which is in the business of motor trading and manufacturing of auto parts. It has Motor trading, Auto parts manufacturing, Property development and Others segments. Motor trading segment covers marketing and distribution of motor vehicles, spare parts and provision of related services. Auto parts segment comprises manufacturing of automotive parts and components, steel and alloy wheels and discs, noise, vibration and harshness products and provision of tyre assembly services. Property segment includes development of menara MBMR and Others segment encompass investment holding, corporate headquarter and dormant companies. Motor trading segment generates most of the revenues for the company.
  xiaodi my friend working in hong leong bank told me now hong leong bank give car loan ,installment rm1000 per month bank account saving must have cash money 24k for instalment 2years money in 2 year bank to give lending...tightening lending...many bank loan margin give 70% max loans. example : your bank account saving in year 2018 have 24k until now still have 24k ,bank give lending...if year 2018 bank saving have 10k 2019 year have 15k now have years 2020 have saving 24k bank will rejected loan... 24/05/2020 3:09 PM  MrRightTiming GLNT Stock market moves ahead of economy lah. April 99% down is already known since like....1.5 months ago. If you don't know market moves ahead of economy, better stay away from stocks. Haha..well said! 28/05/2020 2:31 AM GLNT https://www.theedgemarkets.com/article/perodua-registers-7886-cars-may-has-sold-52920-cars-ytd 02/06/2020 3:05 PM Cropsickle In Q1 2019, Perodua sold 60,700 units. https://www.theedgemarkets.com/article/automotive-sectors-growth-seen-demand-new-suvs In Q1 2020, Perodua sold 36,376 (Jan-Feb) + 8,601 (March) = 44,977 units https://paultan.org/2020/03/24/malaysia-vehicle-sales-data-for-february-2020-by-brand/ https://www.theedgemarkets.com/article/perodua-registers-7886-cars-may-has-sold-52920-cars-ytd The numbers are not bad considering the circumstances, but the Q1 QR will likely not be favorable and seeing that we are in June and only 8k units have been sold since April, the Q2 QR will not be...favorable. I do feel that this counter will grow big in the future, but I don't know whether any increase in price now can be sustained over the next few months. Truthfully, I'd like it if it stays below 3.00 so I can come back after milking the health stocks, so that is my udang sebalik batu. 02/06/2020 10:31 PM Cropsickle @GLNT Ah, thanks for pointing out. I totally missed it. I wonder how much the 26% reduction in unit sales contributed to the -33% QoQ. 02/06/2020 10:46 PM GLNT Value888, market goes ahead of economy by 6 months. everybody knows 1q and 2q will be shit. 05/06/2020 2:21 PM Hafid 100% tax exemption for the purchase of locally assembled cars beginning june until dec 31 05/06/2020 4:38 PM investortrader88 https://www.theedgemarkets.com/article/auto-players-shares-soar-after-pm-announces-sales-tax-exemption 05/06/2020 5:37 PM shareinvestor88 RECESSION RETRENCHMENT REDUCTION IN SALARY 3Rs BETTER SELL AUTO STOCKS 07/06/2020 12:42 AM Chua Joe Beng Aminvestment Bank Research: National Economic Recovery Plan to bode well for auto sector. KUALA LUMPUR (June 6): AmInvestment Bank Research has upgraded the auto sector to "overweight" (from "neutral") and said the cut in sales tax for motor vehicles sales announced in the government’s National Economic Recovery Plan (Penjana) will a boost for the sector. As part of its sector upgrade, AmInvestment Bank Research upgraded its fair value (FV) on MBM Resources Bhd to RM4.62 per share, from RM3.59 per share, while maintaining its “buy” call. It increased its financial year ending Dec 31, 2020 (FY20) earnings forecast by 15% to factor in higher Perodua sales. Meanwhile, DRB-Hicom Bhd’s FV has been upgraded to RM2.49, from RM1.87(with its “buy” call maintained), with its earnings forecast for FY20 raised by 7% to reflect better Proton and Honda sales. While the “hold” call on UMW Holdings Bhd is maintained, the counter’s FV is up to RM2.56, from RM1.74 per share. Its FY20 net profit forecast is up by 27% after accounting for higher Toyota and Perodua sales volumes. 07/06/2020 8:59 AM shareinvestor88 Retrenchment happening , finding money buy food more important not buy car 07/06/2020 11:56 AM gemfinder U not aford jeh. Not everyone as poor as u. Y not buy car if u can aford 07/06/2020 11:59 AM GLNT Just look at perodua sales despite CMCO, back to almost pre MCO period. Malaysians just whack only. 07/06/2020 3:58 PM Collect In malaysia, public transport is still not good enough to get you everywhere. Also, ppl are afraid of the virus, so chances are that those who can afford will take this opportunity to get a car. 07/06/2020 11:15 PM dawchok I collected MBMR in view of the rebounded car sales recorded in May and waiver of sale tax which will boost sales up further till year end. 10/06/2020 5:42 PM dawchok 9 cts div X on 9 July will definitely be received . Just do not know if there will be another dividend in Sep/Oct ? 10/06/2020 5:45 PM Louise4 Price looks high to me, prefer Pecca for its attractive price & good return potential. 12/06/2020 11:40 AM Chua Joe Beng 9c dividend ex date 9th July 2020! Gud stock worth buying anticipating for improved next QR. 01/07/2020 12:32 PM soonli KUALA LUMPUR (July 1): Perusahaan Otomobil Kedua Sdn Bhd’s (Perodua) June car sales jumped to 21,250 units — its highest monthly figure so far this year and an increase of 169.5% over May’s sales of 7,886 units. The sharp rise followed the sales tax exemption announced by the government on June 5, said Perodua president and chief executive officer Datuk Zainal Abidin Ahmad. He said the tax exemption, aimed at boosting car sales amid the Covid-19 crisis, has provided many benefits for consumers including reduced vehicle prices of up to 6% for Perodua cars. “The sizeable volume increase we’ve had as a result of that, allows us to help the supplier and dealer ecosystem in this time of need — we purchased nearly RM500 million worth of local components in June alone,” he said in a statement today. “Our operations are now at full capacity and maximum overtime. We are working very hard to ensure our customers receive their cars as quickly as possible, with no compromise on safety and quality,” he added. Perodua sold 8,601 cars in March before the Movement Control Order (MCO) came into effect on March 18. This resulted in the temporary suspension of the company’s operations nationwide for two months. Perodua officially resumed operations on May 19, the carmaker said. Year-to-date, Perodua has sold some 74,000 cars. “We are immensely grateful to be able to bounce back with such energy in just under two months since we restarted operations nationwide. Our outlook is positive and we hope this momentum will continue and help the industry grow,” Zainal said. “We reiterate our commitment to the government, as Malaysia’s biggest carmaker by volume, to help the industry and ecosystem wherever we can including sustaining employment, so that we can all get through this difficult time,” he added. 01/07/2020 9:11 PM soonli Very potential counter too look at in 2h 2020. PE: 6.43 Profit Margin: >10% Debt to cash ratio: 0.13 (almost net cash position) current ratio: 3.89 (current asset triple than current liability) earning yield : 15% ROE% = 11% DPS ; 22 cents Dividend yield: 6.75% (60% dividend policy) NTA : 4.47 Point to note:- 1. Strong cash flow (almost net cash), which is crucial during MCO period when most of the industries are hitting bad during this period. 2. With such a low PE, high profitability (>10% profit margin, 15% earning yield and 11% ROE), its worth to look at before further shooting 3. dividend policy of 60% pay out with about 6.75% return/year is much higher than FD (currently is only at about 2%) 4. Low interest rate and sales tax exemption to boost the sales from June 2020 onwards, this can be seen from the June's sales figure of Perodua (21,250 unit), which is exceeded average monthly sales figures last year (about 20,000 units) 5. TA chart is showing up trend since March 2020 Middle term Target Price: 4.00 Long Term Target Price: 5.00 Just sharing the info. Buy at own risk. 01/07/2020 9:39 PM soonli Its hard to find a company with so good fundamental, and good prospect on better recovery in 2h 2020 due to benefit from PENJANA + low interest rate. From what we can see, myvi is a very strong model which we can see everywhere on the road and economical used vehicle which suit to local market, at any point in time. I think its time to collect more before it shooting further. 02/07/2020 12:43 PM soonli KUALA LUMPUR (July 2): MIDF Research has maintained its positive rating on the Malaysian automotive sector and said the sector is set to see an inflection point from 3Q20 onwards from a strong combination of tax-holiday-induced demand, robust consumer liquidity and a low interest rate environment. In a note today, MIDF analyst Hafriz Hezry said the research house’s top sector picks are Bermaz Auto Bhd (BAuto) and UMW Holdings Bhd. Hafriz noted Perusahaan Otomobil Kedua Sdn Bhd (Perodua) registered a strong 33% year-on-year (y-o-y) growth in June total industry volume (TIV) and almost tripled sequentially, marking an important inflection point in volume trends. He said car prices have generally been reduced by 2% to 7% (3% to 6% for Perodua) given savings from the sales tax exemption incentive. As a bellwether of the auto industry, this should signal the trend for sector-wide TIV to be announced later this month, Hafriz added. 02/07/2020 1:15 PM soonli （图：马新社） （吉隆坡2日讯）第二国产车（Perodua）和宝腾（PROTON）两大国产车6月销量强势回升，其他汽车公司也有望捎来好消息，分析员认为，汽车业获得税务假期等3大利多支持，下半年销量可望止跌回弹。 减免消费税 国产车销量强升 政府上月取消汽车销售税，带动第二国产车（Perodua）的6月销量按年上升33%，至2万1250辆，按月更大起169.5%；宝腾（PROTON）上月也卖出9623辆汽车，分别按年和按月提高26.3%和69.5%。 MIDF研究指出，在销售税6月15日开始豁免后，汽车售价平均降低2至7%，推动销量强劲上扬，这支撑了该行较早发表的看法。 该行曾指出，在2018年的3个月税务假期期间，车商平均每月多卖出2万1000辆汽车，而该行看好下半年的销售税豁免也会推动车商每月销量增加7800辆，并强调这是相对保守的预测。 02/07/2020 6:59 PM soonli Perodua president and chief executive officer Datuk Zainal Abidin Ahmad (pic) said Perodua has the capacity to be a possible contract manufacturer for the project RAWANG: Malaysia’s second national carmaker Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is in talks with the government to participate in the realisation of the third national car project. Perodua president and chief executive officer Datuk Zainal Abidin Ahmad said Perodua has the capacity to be a possible contract manufacturer for the project. “Perodua has given a proposal to the government on its vendor system, which could be beneficial to the project, ” he said following a signing ceremony between the Malaysia Automotive Robotics and IoT Institute (MARii), Perodua, the Perodua Suppliers Association and Perodua Dealers Association earlier yesterday. International Trade and Industry Senior Minister Datuk Seri Mohamed Azmin Ali, who was present at the event, said the third national car project is still ongoing. “Despite having a new government, the project is still on, ” he said. Back in February, former Prime Minister Tun Dr Mahathir Mohamad said that a prototype for the third national car was ready and that the government was waiting for private investors to invest in the development of the project. Dr Mahathir said Malaysia was open to working with foreign companies to develop the new national car, adding that Malaysia already had the experience, having developed both Proton and Perodua with Japan previously. It was previously reported that DreamEdge Sdn Bhd, the anchor company to drive the third national car project, was aiming to unveil its first prototype by March this year. DreamEdge is an engineering services company catering to various industries such as automotive, rail, electronics, energy, defence, precision equipment and tooling design. MARii chief executive officer Datuk Madani Sahari (pic below) said the vehicle be revealed later this year. Perodua closed the month of June with 21,250 vehicles sold, its highest monthly sales figure this year and nearly triple that of the previous month’s. The carmaker’s year-to-date sales total stands at 74,000 units. Zainal said it would be difficult to forecast the outlook for the automotive industry for the rest of 2020, in light of the uncertainties and challenges created by the Covid-19 pandemic. “It’s difficult to predict, but we will strive to continue doing our best and make sure that the ecosystem will continue to survive. We had made an initial forecast and yes, there has been a slowdown in sales. But for now, our strategy for the remainder of 2020 is to stay with what we had targeted to achieve before the movement control order (MCO).” In January this year, Perodua targeted to sell 240,000 vehicles for 2020. At the moment, Zainal said sales could fall between 15% and 17% this year from the original target. Perodua is however, expected to make an official announcement on its 2020 sales target later this month. 03/07/2020 7:47 AM soonli From the announcement made by PM on 5 June, the newer price list only out in subsequent week, so actually the impact of sales rebate only taking place in 2nd half of June. So actually the push up of sales due to PENJANA is just taking pace in 2nd half of June, with such a surge in sales for whole month of June really surprise to all. Can imagine the full month impact starting from July onwards, the sales figure may highly likely to overtake June figures. looking for it Dont forget 9 cents dividends entitlement prior 9 July (next week). 03/07/2020 3:09 PM soonli Interest rate my drop again? who benefit? (吉隆坡3日讯）《路透社》调查显示，经济学家普遍预期国家银行下周将再降息至少25基点，以减轻冠病对经济造成的冲击。 在接受调查的12位经济学家中，有7位预测国行会在议息会议上将隔夜政策利率（OPR）调低25基点至1.75%，另外两位更预期降幅可能高达50基点。 其余5位经济学家估计国行将保持2%指标利率，以观察连续3次降息的经济效应。 国行下周一将召开为期两天的第四次议息会议。 在第一季经济成长减缓到0.7%后，国行曾表示，我国正处于“前所未有的经济危机”中，并预期第二季经济将萎缩。 03/07/2020 3:24 PM soonli （吉隆坡6日讯）政府豁免汽车领域的销售与服务税（SST）之举料刺激需求增长，分析师预计，国内汽车销售在下半年获改善，并看好宝腾（Proton）和第二国产车（Perodua）引领汽车行业增长。 大马投银研究指出，鉴于国内新冠肺炎（2019冠状病毒疾病）新确诊病例逐步减少，且大多数企业已恢复运营，预计汽车领域在下半年内强劲复苏。 同时，在短期国家经济重建计划（PENJANA）下，本地组装汽车（CKD）和整装进口（CBU）新车可分别扣税100%和50%，所有汽车价格预计下跌1.1%至6.5%，因此下半年的汽车总销量（TIV）将看涨，全年预计达56万5000辆。 该行认为，税务豁免是明智之举，因2018年的汽车价格也在6月至8月份的“零税率蜜月期”期间全面下滑3%至5%，刺激销量按年和按季分别增32%和42%，至19万8500辆。 同时，宝腾和第二国产车的汽车价格在扣税后更为实惠，因为这两家公司的产品均是本地组装汽车。 “由于宝腾和第二国产车的产品阵容和性价比与同行相比更具吸引力，相信它们将在下半年继续引领汽车行业的复苏。” 该行维持汽车领域“增持”评级，同时维持多元资源（DRBHCOM，1619，主要板工业）“买进”评级，合理价2.49令吉，MBM资源（MBMR，5983，主要板消费）也同为“买进”评级，合理价4.62令吉。 06/07/2020 8:02 PM  | | ||||||||||||||||||||||||||||||||||||||||||||||||
