RHBInvest Research
Tuesday, July 5, 2011
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.
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