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  • PROTON Q4 RESULTS WITHIN FORECAST, SAYS OSK

    Proton is expected to post strong for its Q4 in 2010.It is due to the resilient demand for the Saga, Exora and Persona.Read the full news from Bernama below.

    PROTON Q4 RESULTS WITHIN FORECAST, SAYS OSK

    KUALA LUMPUR, May 3 — Proton Holdings Bhd is expected to post strong results for its fourth quarter (Q4) this year on the back of strong vehicle sales of 40,132 units on the domestic side, OSK Research said Monday.

    The national car-maker’s performance too is expected to be sustained by an increased contribution from the export markets, due to the launch of the Exora, the research house said in its note here.

    “We continue to see Proton’s total sales being sustained going forward, backed by a resilient demand for the Saga, Exora and Persona. This is together with the upcoming launch of its Waja and Perdana line-up sometime late in the second-half this year.

    “It is also well supported by growing export sales and we are forecasting a total volume of between 199,000 and 223,000 units for financial year 2011 and 2012 respectively,” it added.

    Besides that, it said recent talks of Proton’s strategic partnership with Volkswagen and the possibility of it carrying out a contract assembly of the German car-maker’s Passat model as a Perdana replacement, could lend a hand to Proton.

    “We looked at all the possible scenarios that may emerge and noted that the upcoming Q4 results could come within our forecast,” OSK Research explained.

    Therefore, it has maintained a ‘buy’ on Proton, with a target price of RM5.90. Proton closed trading Monday at RM4.99, up 19 sen from Sunday.

    However, it said that the forecast remains unchanged for now until it could be confirmed that the Passat would be the Perdana’s rebadged model and when Proton unveils its new strategic partnership.

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