The share has touch the bottom line and expect to bounce back. EPF back to collect the shares again so invest the share when it is still cheap. Target price 6.20
With so many new models from other brands launching, their Almera seems like last decade model, u can see more city on the road, Perodua Axia and Proton new car also will eaten Almera market share, no hope unless they revise their current lineup~
they shud mention target price + timeframe to reach target price, i also can gv TP rm10.00 for Tan Chong but no point if need more than 10 years to reach...
TP 2.60 by hlib...poor management workforce and service cntrs with attitude of rip off customers comparing to rivals ,,, better invest in other meaningful counters.
Margins expected to be squeezed further. Car sales volume has been slowing down or even declining. Competitors are being very aggressive in offering rebates/promotions. For instance, DRB subsidiary, Proton is offering high rebates which could effect the sales of Almera and Grand Livina.
Not to mention the depreciation of the RM which will result in higher cost of sales going forward. All in all, time to stay away from automotive stocks.
Tis company seemed to be sleeping for the past five years, maybe paralysed by 2nd generation heir's complacency. Used to be a blue chip in the 80's when under the helmed of the founder. But only 2nd generation and degeneration sets in. Minorities should demand the CEO's resignation as this company is not wholly owned by Tan family.
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