The new headline key performance indicators (KPIs) announced by Proton Holdings Bhd is achievable as the company is already making steady inroads, especially in market share expansion and exports, according to MIDF Research.

New models planned, including the new Waja which is expected to make its debut in the coming months, will push the national carmaker's market share and revenue growth, it said in a
research note today.

'The mainstay of Proton's products remains the Saga and Exora and we expect it to remain as such for the foreseeable future,' said MIDF Research, part of MIDF Amanah Investment Bank Bhd.

The new models are expected to open up greater sales opportunities that would translate into better market share and provide the boost to the company's revenue growth, it said.

Proton announced yesterday that it was targeting to achieve 20 per cent growth in revenue for the financial year ending March 31, 2011, under its headline KPIs.

Contribution of export sales to revenue is set to be 8.4 per cent while the domestic market share for passenger vehicle segment is targeted to grow at 33 per cent.

MIDF Research said Proton's current export markets are the African nations, the Middle East and countries in Asia Pacific region, including Australia.

'Proton is seen to stand a fair chance to convince Chinese buyers if they managed to sort out the pricing and product quality as the competition is stiff in China,' it said.

According to MIDF Research, there are no major earnings surprises expected for the current financial year.

'Sales is improving, rising 18 per cent year-on-year to 80,126 units for first half 2010 with market improving to cross the 30 per cent level,' it said. -- Bernama