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Thanks, Choong. You may want to keep an eye on the inventories movement from the report. It remains elevated and moving rather slow. Hence, my personal assumption that its in the low cycle phase; could be wrong though :) I am hoping its a cyclical problem rather than structural. Still observing the industry as a whole.
Hi Cheng. Maybe I'm too pessimistic on Bermaz current performance but I believe it will rise again with the right package from their new models. Let's hope it will improve in near term
Chery raised the pole with J7 phev. Only 158.8k with 1 to 1 battery replacement during the warranty of 8 years. Bermaz really like sitting duck waiting for time only. Haizzzz
Last financial year the Bermaz management fail to forsee the and prepare the threat from chinese cars even proudly mentioned they won't go into price war. This show they failed to gauge the market is not on price itself but rather the products offerings and new innovations. Unfortunately we shareholders have to bear the serious consequences due to Bermaz management incompetence
Lets see how it goes next week. It should stabilize after the MSCI balancing yesterday. Bauto, Hibiscus, Drbhcom, Taann and Padini were removed from small cap index. You will observe these 5 having higher than normal volume. Index fund has to sell their position.
Local funds/insti shall be the market maker moving forward with no participation from global index funds. Being removed from the MSCI small cap index is a heavy blow - declining market cap and global small cap/growth funds/insti confidence on its fundamentals. Its going to be tough without models & competitive pricing.
Almost confirm coming quarterly won't be good. Going forward the outlook also not good unless Bermaz able to introduce models that able to contribute volume and competitive enough to counter threat from chinese brands and EVs
With the change of landscape in the automotive industry, is very difficult for Bermaz to reach new high or even recover to previous price in 5 years or maybe longer than that. Even with the new 3rd generation of CX5 coming. Now short term obstacle whether Bermaz can stop it share price from continue sliding to a very low level
BYD electric cars can be used to power a home through vehicle to home (V2H) technology. This allows you to use your car's battery to run your home, even during power outages.
Share price probably wont slide too much further due to dividend yield, Choong. Not expecting a V-shape recovery of share price either given the challenges that they are facing now. The risk of lower dividend for FY25 is pretty much confirmed based on the balance sheet for the last two quarters. Last year share buybacks amounted to slightly more than 6M at the back of 26 cents total dividend payout and its approx 5.6M ctd in FY25 at the back of 13.5 cents dividend payout. Fair deal to have lower dividend payout in FY25 given the share buyback amount. Safe to assume that special dividend in FY26 will not be at 7 cents. My personal opinion is that income holders will not relinquish their positions as long as FY26 dividend payout is within 10 to 15 cents range. If the dividend payout goes way lower, then, you can expect share price to go way lower than current low. Just my personal opinion, could be wrong :)
Looking at today price seems like insider already know 3rd quarter result will be very ugly. Dividend maybe will be halt if earning is bad. Will fall below RM1 tomolo
Going forward Bermaz outlook looks very gloom maybe not all doom. Bermaz management this time really underestimated the change in the automotive market. They bet on Kia Sportage as volume contributor also is too optimistic. Looking at the Kia brand in the past only Kia Forte 6 speed manage to capture some market share the rest of the model never really sell well. As for current Kia sportage is just really lack of competitive features and is too expensive for a korean car. RM 190k for top specs
Yup instead of betting on Kia, should expedite the sale for cx60 and cx80. Even though the sales volume maybe not much due to higher price but at least the margin will be good. Belief the cx60 and cx 80 will able to steal some market share from BMW X3 and Mercedes GLA and GLC.
today CIMB forecast car sales will drop 7% due to the targeted subsidies for RON95. more higher then previous MAA forecast 4.5% drop.
the targeted subsidies is expected introduction in July 2025.
i think this will mainly impact foreign car brand, the malaysia local car brand might eat foreign car brand market share.
After 3rd quarter announcement sure another round of water shed. Don't hope will get any dividend as sales unit is dropping by more than 10percent every month. By year end don't know how many units can sell. Haizzzzz
Bermaz should stop SBB as this only create opportunity for short selling because coming 3rd quarter result will be ugly. Instead should see any alternative to grab back market share from chinese vehicles. Honda Malaysia already making move by offering free maintenance and heavy discount
As for earnings, 10k units means days of 300M to 400M revenue per quarter and 20M to 30M net profit per quarter should be expected. As they are good management in the past as KC mentioned, it should suffice to keep them going.
Its probably timing and models availability, cw yeo. the sst exemption which started in 2020 and extended to Jun'22 drove the sales in the industry. thereafter, ev tax exemption in 2023 and CBU EV tax exemption ending by Dec'25 and CKD EV tax exemption ending by Dec'27. Bermaz missed the 2023 window time frame and all the way to 2024. Xpeng, Changan Deepal are just coming into the picture end of last year and mid of this year. Keep an eye on coming year end budget 2026. An extension of CBU EV tax exemption will be a booster.
Its still ahead from the same segment comparison against BYD Atto and Tesla Model Y. X9 is launched and lets see how its doing at the luxury MPV segment competing against BYD D9 and Zeekr 009 in coming months
I used the link you provided in top of this commentary thread to compare G6, Choong. BYD Atto and Tesla Model Y. 131 units in Dec'24 for G6 and BYD Atto 220 in the same period. The drop in BYD Atto is more significant compared to G6. Will be using the same link to see how X9 is doing against the same segment.
Speaking about CX5 :) You can try to compare the c-segment SUV data from the link for CX-5, Proton X70 and Honda CRV, Choong. Zoom in to 2023 to 2025. You will notice the following observations: (1) 2023 CX-5 numbers is averagely ~550 to 600 per month; pretty consistent if you will (2) The divergence between CX-5 and the X70 and CRV became obvious starting 2024. CRV took the lead right from the start in Jan'24 and all the way until Dec'24 averagely ~ 900 to 1k units per month. X70 jumped into the lead after Aug'24 and took the lead in C-segment SUV from Sep all the way to Dec'24 with avg more than 1k units per month for the last 4 months of the year. CX-5 on the other hand maintained the average in 2024 until Jul'24. Aug'24 onwards fell below 500 units per month and all the way until now. (3) Few observations that I am thinking led to the divergence in 2024; excluding year end promotion. Please add on if you have additional observation - (a) new 6th gen CRV launched in Dec'23 (b) CX5 launched facelift model in Jan'24 (c) X70 launched facelift with the same price! (4) What's in BAuto's mgmt thinking second half of 2024 for CX5 - possible the planning for 2025 onwards - CX5 limited edition / new CX5 2026 model; dependency on Mazda global launch plans though :) And models availability for sale timing means 2025 maybe a low cycle for BAuto but I personally will not make the same conclusion for 2026 at this moment; not to mention given the amount of share buybacks executed so far. Just my personal opinions, could be wrong. Hope it helps.
Hi Cheng. I din when through until so details like you.Really hope your expectations for Bermaz is right. But recently saw many dealers and sales rep from Bermaz really pushing for sales by advertising and posting videos in social medias