Posted by AndK > 2019-10-29 14:26 | Report Abuse

CX4 is only introduce in China. Maybe will bring in if there is any market potential.

Posted by Kensington > 2019-11-14 14:57 | Report Abuse

The share price has not been performing lately as it has retreated to 2.21 from a peak of 2.78 on July 9. This could be attributed to a delay in the pricing approvals for the Mazda CX5 Turbo and CX8. This evidenced from a number of Mazda cars lying idle in the Inokom plant in Kulim Kedah. The management expects the issue to be resolved soon.
Source: The Edge Malaysia Nov 11 --17, 2019

Posted by cherry88 > 2019-11-15 15:31 | Report Abuse

Can start collecting now. They just release its CX8 pricing. Oder is good. They will launch CX9 later, and expect the sales to boost up toward Apr2020

Posted by Hafizh Zubir > 2019-11-20 17:48 | Report Abuse

Is this a good choice for long term investing? Bauto biz is selling mazda vehicles and providing after sales services. What is the prospect of it maintaining profits and growing its business?

Posted by cherry88 > 2019-11-21 10:02 | Report Abuse

I don't know why the management decided to dispose the treasure shares at this current low price now.

Posted by Khaz > 2019-11-27 11:47 | Report Abuse

cash flow make loss but report profit?

how does it work like that?

Posted by goldman88 > 2019-11-29 09:55 | Report Abuse

It is called profits sales manipulation through Trade receivables and Trade Payable. Hence profit shown up but haven't collect the payment.

Posted by DAN84 > 2019-12-01 12:20 | Report Abuse

Means is it good or bad?

Posted by goldman88 > 2019-12-02 10:22 | Report Abuse

Fundamentally means relying on trade receivables to pay off trade payable in case of receivable default then it may cause value to shrink. If the receivables can be converted to cash the payout will be better in the future. Consider average for Auto industry. In current market condition bad due to higher chance of it defaulting. When market recovers considered good. Decision to hold instead due to dividend returns are still below EPS which is consider a good payout by the company.

Posted by cherry88 > 2019-12-02 16:50 | Report Abuse

The receivables mainly due from their sales agent or customers pending loan approval. Generally, the default is low. Because you will not get the car even u paid the downpayment, must wait for loan approved.

Posted by DAN84 > 2019-12-02 21:38 | Report Abuse

Got it! Thanks goldman & cherry for the info.

Posted by Chrishau > 2019-12-02 21:45 | Report Abuse

Waiting below RM2

Posted by slts > 2019-12-03 10:17 | Report Abuse

VERY LOW ALREADY. ANY -VES PRICED IN ALREADY

Posted by Eagle_T > 2019-12-03 10:19 | Report Abuse

Past 3 months average sales are below 900 units/month.

Posted by mason > 2019-12-06 14:34 | Report Abuse

please bring in more CKD models to boost the sales.
Recently reveal CBU CX-30 will not help. it need to be CKD asap. it will be flooded with CX-30 OTR if CKD, just like the CX-5.
Else it will like the CBU mazda3, hardly to see one OTR due to too expensive.

Posted by gemfinder > 2019-12-10 22:11 | Report Abuse

Bad result. Below rm2 soon. Hit by proton x70

Posted by RainT > 2019-12-10 22:45 | Report Abuse

my theory is proven right

for me, I will not invest in auto biz company

as auto biz is cyclical and high competition , there are many other car biz in Asia

in term of competitive advantage wise, BAUTO is don't have

Posted by Good123 > 2019-12-11 18:41 | Report Abuse

masih buy call, ada yang berani kot? :)

KEY INVESTMENT HIGHLIGHTS

BAuto delivered weak 2QFY20 earnings

A 2.75sen/share interim dividend declared, generous 95% payout (1HFY20)

Temporary impact from CX8 and facelift CX5 pricing approval delay

Earnings delayed, not cancelled; ready booking bank to meet delayed deliveries next quarter

Maintain BUY at unchanged TP of RM2.85

 
A weak 2QFY20. BAuto reported a weak set of results for its 2QFY20. The group registered a core net profit of RM22m for its 2QFY20 bringing 1HFY20 core net profit to RM73m (normalized for ESOS expense of RM2.3m). This is behind expectations accounting for 28% and 29% of our and consensus estimates respectively. However, we expect the weakness to be temporary. An interim dividend of 2.75sen/share was declared bringing 1H20 interim dividend to 6sen/share, representing a generous 95% payout.
Temporary sales slowdown. The weak 2QFY20 earnings (-71%yoy) were due to the delay in deliveries of the all new CX8 (launched in Oct19) and facelift CX5 (launched Sep19) which was a result of the delay in regulators’ pricing approval of these models. This resulted in Mazda TIV falling 27%qoq and 47%yoy. The weak domestic performance was partly offset by improved earnings at BAuto Philippines (BAP) ( 79%yoy) driven by an improved model mix following launch of the new Mazda 3 this quarter (BAP sales were previously mainly driven by the Mazda 2).
Associate earnings also affected. Associate earnings (comprising 30%-owned manufacturing units MMSB and Inokom) saw spillover impact from the pricing delay issues – volumes are only recognized once the finished units are invoiced to end-customers. MMSB earnings specifically fell by 31%qoq and 68%yoy in 2QFY20. A recovery in Mazda TIV and group earnings, expected from next quarter onwards, should be accompanied by a turnaround in associate performance as well.
Earnings delayed, not cancelled. We expect the delivery delays to be contained to the current quarter as the pricing issues have been resolved and deliveries should be reflected from 3QFY20 onwards. Bookings for the CX8 stand at ~400 units (vs. a target monthly volume of 250-300 units) while bookings for the CX5 currently stands at around 750 units. BAuto has built-up sufficient inventories to meet the delayed deliveries next quarter. Beyond the CX8 and facelift CX5, the CX30 (CBU) is scheduled to be launched in 3QFY20.
Source: MIDF Research - 11 Dec 2019

Posted by gemfinder > 2019-12-11 19:41 | Report Abuse

Rm1.60 on d way

Posted by MACC_jangan_tidur > 2019-12-11 21:20 | Report Abuse

Really? Profit drop 72% YOY share got drop so much?

slts VERY LOW ALREADY. ANY -VES PRICED IN ALREADY
03/12/2019 10:17 AM

Posted by MACC_jangan_tidur > 2019-12-11 21:21 | Report Abuse

Ada rasuah? Buy B Auto EPF employees get Mazda car free?

Victor Yong EPF sangat sayang pada syer ini, kenapa? :)

Posted by patling63 > 2019-12-11 22:13 | Report Abuse

Good opportunity to accumulate. Good counter, temprorary hiccup.

Posted by Good123 > 2019-12-12 10:48 | Report Abuse

:) be patient, money coming :p

Bermaz Auto Bhd
(Dec 11, RM2.05)
Maintain buy with a lower target price of RM2.65: Bermaz Auto Bhd’s second quarter of financial year 2020 (2QFY20) core net profit fell sharply to RM21.5 million (-71% year-on-year, -59% quarter-on-quarter). This brought earnings for the first half of FY20 (1HF20) to only RM73 million, making up 33% and 31% of our and consensus full-year estimates respectively. The reduced earnings were attributed to lower sales volume, poorer sales mix and lower contribution from the company’s associates.
As 2QFY20 only captured 1.5 months sales of the new facelift CX-5 model and did not record CX-8 sales — which only received pricing approval in mid- November — we expect sales contribution from these models and earnings to improve in 2HFY20.
Upside to earnings may come from better sales of new models, especially CX-8, as well as higher-than-expected contribution from its associates, mainly Mazda Malaysia Sdn Bhd.
Cut earnings forecasts for FY20/21/22 by 16%/9%/9% mainly on lower sales volume and margin assumption. While we are positive on contributions from CX-5 and CX-8 models going forward, we have lowered our volume and margins assumption due to delay in CX-8 sales; expected economic slowdown which might affect consumer affordability; and also the competitive sport utility vehicle segment as more models are expected to be launched next year.
Post-earnings adjustment, Bermaz Auto’s valuation is still attractive at 11 times FY20 price-to-earnings (-1 standard deviation of five-year mean) and offers good dividend yield of 7% (assuming 90% payout). — AllianceDBS Research, Dec 11

Posted by Good123 > 2019-12-12 11:08 | Report Abuse

5000 lots traded rationally today so far, no more insane or fearful selling like yesterday :)

Posted by Good123 > 2019-12-12 11:09 | Report Abuse

opportunity for patient investors to accumulate to make money at such price level :)

Posted by Good123 > 2019-12-12 11:18 | Report Abuse

Earnings delayed, not cancelled. We expect the delivery delays to be contained to the current quarter as the pricing issues have been resolved and deliveries should be reflected from 3QFY20 onwards. Bookings for the CX8 stand at ~400 units (vs. a target monthly volume of 250-300 units) while bookings for the CX5 currently stands at around 750 units. BAuto has built-up sufficient inventories to meet the delayed deliveries next quarter. Beyond the CX8 and facelift CX5, the CX30 (CBU) is scheduled to be launched in 3QFY20.
Source: MIDF Research - 11 Dec 2019

Posted by Good123 > 2019-12-12 11:19 | Report Abuse

Dividend. BAuto declared a second interim dividend of 2.75 sen per share (2QFY19: 3.75 sen/share), to be payable on 17th February 2020. This brings its 1HFY20 dividend per share to 6 sen, translating to a 98% payout ratio.

Source: PublicInvest Research - 11 Dec 2019

Posted by Good123 > 2019-12-12 11:20 | Report Abuse

no wonder epf increased its stake to more than 10% , real dividend stock :)

Dividend. BAuto declared a second interim dividend of 2.75 sen per share (2QFY19: 3.75 sen/share), to be payable on 17th February 2020. This brings its 1HFY20 dividend per share to 6 sen, translating to a 98% payout ratio.

Source: PublicInvest Research - 11 Dec 2019

Posted by Good123 > 2019-12-12 11:21 | Report Abuse

Outlook. BAuto will leverage onto the newly launched CX-5 facelift and new CX-8 in 2HFY20. Other highly anticipated models are CX-30 (targeted to launch in 3QFY20) and MX-30 (hybrid or EV), recently reviewed in Tokyo Motor Show.
Forecast. We adjusted lower earnings for FY20-22 by 26.3%, 27.1% and 25.5% respectively, after imputing lower sales volume and overall margins.
Maintain BUY, TP: RM2.38. We maintain BUY recommendation on BAuto with lower TP of RM2.38 (from RM2.85), based on CY21 P/E of 14x (rolled forward from CY20), supported by: (i) healthy balance sheet with net cash position of RM178.0m (15.3sen/share); (ii) attractive line up models to sustain sales volume; and (iii) high dividend yield of 5.6-7.0%.

 

Source: Hong Leong Investment Bank Research - 11 Dec 2019

Posted by Good123 > 2019-12-12 11:22 | Report Abuse

We recently hosted a site visit to Mazda Motor Corporation’s (MC) Hiroshima plant. Founded in 1920, MC is a multinational premier automaker, ranked 15th in global auto sales in 2018. With an attractive product line up and on resolving domestic issues related to pricing, we are upgrading Bermaz Auto (Bauto) to BUY (from Hold) with an unchanged TP of RM2.30 on valuation grounds. At 11x PER/ 6% yield for FY20E, Bauto’s valuations look compelling.

Impressive Mixed Production Line and a Highly Efficient Plant

Post visit, we are impressed that the Hiroshima plant adopts a mixed production line – the ability to produce multiple car models on the same assembly line. We gather that the current 569k units/annum production capacity has reached maximum capacity. We saw automation mostly in the stamping process area; the final assembly, however, is less automated and is mainly supported by est.10k employees. The Hiroshima plant manufactures most of the Mazda SUV models, while the sedans like Mazda 2, Mazda 3 and Mazda 6 are mainly manufactured at Hofu plant.

A New Mazda – Maturing Kodo Design Language, Coming to Malaysia

We also saw MC’s all-new Mazda CX-30 compact crossover SUV, which adopts Mazda’s latest Kodo design language. We learnt that demand for CX-30 in Japan is strong – est. 6k orders since the booking period started in end-Oct. Positioned as a new core product, the CX-30 will likely hit Malaysian shores by 1H20, with indicative pricing of RM143k-RM173k; Bauto targets to sell est. 1k unit/annum.

Growth Stemming From ASEAN; Malaysia Market Still Very Relevant

MC believes the ASEAN market has growth potential, in particular Vietnam, considering i) the growing young population, ii) growing economy and iii) rapid motorisation trend. That said, MC also highlighted the importance of the Malaysia auto market to the Group as it contributed a 5- year avg.13% of total ASEAN sales volume between 2014-2018.

Upgrading Bauto to BUY, Following Share-price Decline

Bauto’s 1M-share price has fallen by c.9%, as 2QFY20 quarterly results, slated for release on 10th Dec, is expected to be sequentially weaker due to the delay in car pricing approvals for its CX-8 model. We are comforted to know that the issue has been resolved, and will not affect Bauto’s 2HFY20 outlook. At 11x PER/ 6% yield for FY20E, we believe the negatives are priced in and valuations look attractive. Upgrading to BUY (from Hold) with an unchanged TP of RM2.30 based on 12x CY20E PER. Key downside risks: supply constraints on Mazda model and forex risks.
Source: Affin Hwang Research - 5 Dec 2019

Posted by Good123 > 2019-12-12 11:27 | Report Abuse

:) coming quarterly results , to be released in 2020 should be nice :)


Mazda (BAuto) sales in Oct improved 122.4% MoM to 1.0k units, following launch of CX-5 facelift. However, sales declined 39.4% YoY and 21.7% YTD (to 9.9k units) due to high base effect of strong demand during GST free period. We expect stronger sales volume in Nov following recent launch of CX-5 facelift and new CX-8. Upcoming launches include new CX-30 and CX-3 facelift by year end as well as another new model in 2020 (potentially MX- 30).

 
Source: Hong Leong Investment Bank Research - 4 Dec 2019

 
Source: Hong Leong Investment Bank Research - 4 Dec 2019

Posted by KP_RECT > 2019-12-12 14:48 | Report Abuse

Hi all, appreciate if you all can share the link from respective investment research done by someone instead of pasting here.

It flood the forum all over here. Tq!

Posted by whypaymore > 2019-12-12 21:35 | Report Abuse

If drop not rugi more?

Posted by whypaymore > 2019-12-12 21:36 | Report Abuse

Hibiscus TP RM 1.75 why keep drop also? Any surprise if B Auto same?

Posted by KP_RECT > Dec 12, 2019 2:48 PM | Report Abuse
Hi all, appreciate if you all can share the link from respective investment research done by someone instead of pasting here.
It flood the forum all over here. Tq!

Posted by Good123 > 2019-12-12 23:23 | Report Abuse

:)

（吉隆坡11日讯）柏马汽车（BAUTO,5248,主板消费产品服务组）次季表现不如预期，分析员下砍3年财测，但预见其接下来新推车款将有助于提振销量。
受业绩逊色影响，柏马汽车今日面临沉重卖压，最终以2令吉零5仙闭市，全天跌10仙或4.65%，成交量达715万3600股。
丰隆研究指出，受累于大马营运销量下跌和营运利润疲软，柏马汽车2020财政年上半年核心净利大跌40.3%至7380万令吉，仅达该行和市场全年财测的33.3%和31.5%，远逊于预期。
尽管如此，该公司仍持续派发股息，上半年累积派发6仙股息，符合该行预期的全年12仙之内。
丰隆研究看好柏马汽车将利用新推的马自达CX-5改装版和下半年将推出的CX-8刺激销量，其他备受期待的车款如最近在东京汽车展上展出的CX-30和MX-30（混合或电动汽车），CX-30已预定在2020财政年第三季推出。
不过，由于销量和整体赚幅纷纷下降，该行下砍了2020至2022财政年财测分别26.3%、27.1%和25.5%。
有鉴于公司强稳的资产负债表、净现金1亿7800万令吉、具吸引力的新推车款支撑销量和5.6至7%的高周息率，丰隆研究虽以2021年14倍本益比估值为基准，将目标价从2令吉85仙大砍至2令吉38仙，但维持“买进”评级。

Posted by Good123 > 2019-12-12 23:30 | Report Abuse

me 2, tomorrow, it will fly. buy rate at closing time was 55%. saw the price fell to 2.02 then buyers grabbed the share non stop till 2.05 back but last transacted price was 2.04. I think the chase will continue tomorrow, good luck. :)

Posted by pakabu > 2019-12-16 22:14 | Report Abuse

PETALING JAYA: Better earnings are expected for BERMAZ AUTO BHD (BAuto) in the second half of its current financial year ending April 30,2020, on the back of anticipated demand for new and existing Mazda models.

Read more at:

https://www.thestar.com.my/business/business-news/2019/12/12/better-earnings-expected-for-bauto-on-higher-demand

Posted by factslim1 > 2019-12-17 13:38 | Report Abuse

Following the earnings revision and after rolling over our valuation base to FY21F (YE April), we trim our TP slightly to RM2.70/share (from RM2.85/share previously) though our BUY call on BAuto remains intact. From a valuation standpoint, BAuto is cheap at just 10x FY21F earnings while dividend yield of 8% is attractive.

Posted by Choivo Capital > 2019-12-22 00:00 | Report Abuse

Lol i bought abit just before the quarter results come out.

Still pretty interesting, maybe i should be waiting till its stupidly cheap before topping up,

Posted by Hafizh Zubir > 2019-12-23 18:39 | Report Abuse

https://estarosaevans.wordpress.com/2019/12/04/income-fund-bauto-5248/

TA suggests around 2 can add. If it falls further, wait around 1.8... for long term traders and entry-price-sensitive investors.

For short term trading... Maybe should find better options.

Posted by Fabien "The Efficient Capital Allocater" > 2020-01-15 15:35 | Report Abuse

Bought some 2.02

Posted by Exnstp > 2020-01-16 11:36 | Report Abuse

Top up at 2.01. If they can maintain the dividend payout, that will awesome. Current DY is at 6.8%

Posted by mikeymouse > 2020-01-17 10:40 | Report Abuse

Fundamentals are ok, dividend is high. Challenges ahead are competitions are getting stronger and car sales are dropping. However Mazda's brand itself is picking up. At RM2.01 should be a reasonable price for entry. Just bought a small amount.

Posted by pendekar > 2020-01-18 18:45 | Report Abuse

Why is this donwtrending? The fundamentals are pretty good

Posted by Exnstp > 2020-01-21 14:07 | Report Abuse

EPF is collecting non-stop every other day. Keep calm and collect :)

Posted by Darius Tanz > 2020-01-23 02:09 | Report Abuse

http://netflyp.com/index.php/2020/01/22/bermaz-auto-bauto-stock-opinion-january-2020/

I'm investing long term fr the div. Topping up around 2. Seems like it may go lower. Will add on rebound or around 1.8

Posted by toypoodle > 2020-01-23 09:25 | Report Abuse

Time to accumulate at the bargain price hahaha

Posted by Victor Yong > 2020-01-23 16:14 | Report Abuse

Bauto juga Ada syer Dalam inokom

Posted by cherry88 > 2020-01-23 17:05 | Report Abuse

who are the sellers ?

Posted by Exnstp > 2020-01-23 17:51 | Report Abuse

Then who is selling? Since everyone is acquiring