RHBInvest Research

Top Story: Motor – The worst of the supply crunch is over Neutral

Sector Update

MBM Resources: Fair value raised to RM3.80 Outperform

Tan Chong: Fair value maintained at RM6.15 Outperform

Proton: Fair value raised RM3.55 Underperform

• Recent reports indicate that vehicle and component production in Japan has begun to normalise sooner than expected.
• We expect supply issues to continue affecting vehicle deliveries for another one to two months and believe the worst of the supply crunch is over.
• We expect supply issues to continue affecting vehicle deliveries for another one to two months and believe the worst of the supply crunch is over.
• Macro indicators remain supportive of domestic consumption and this bodes well for consumer discretionary spending going into 2012.