Stock Name: PROTON
Company Name: PROTON HOLDINGS BHD
Research House: MIDF



Proton Holdings will see minimal impact from the recall of Gen2 and Satria Neo, said MIDF Research today.

"We expect some negative reactions to the recall, further weakening of Proton share price may provide the opportunity to buy the shares at a lower level," it said in a research note today.

MIDF however said it was maintaining a "buy" review on the Proton stock, with the target price unchanged at RM5.80.

The national carmaker yesterday announced a voluntary recall of its Gen2 and Satria Neo cars made between 2004 and 2008 due to a clock spring malfunctionth at raises potential safety concerns.

The voluntary recall, part of its Global Quality Assurance programme, affects 15,911(two per cent) of 660,000 cars produced and sold over the four-year period. -- Bernama