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BAuto partners Kia in automotive production, secures distribution rights 02 Apr 2021 / 00:04 H. PETALING JAYA: Kia Motors Corp and Bermaz Auto Bhd (BAuto) have formed a strategic partnership to drive the expansion of production and/or assembly of Kia vehicles in Malaysia. A newly incorporated company to be known as Kia Malaysia Sdn Bhd (KMSB) will be formed to undertake the assembly of completely knocked down (CKD) Kia vehicles in Malaysia. To start with, three models are planned under the Kia JV for the Malaysian market whereby Kia Seltos and Kia Carnival are slated for start of productio...

11 Mar 2021 / 09:30 H. PETALING JAYA: Bermaz Auto Bhd’s (BAuto) net profit for its third quarter ended Jan 31, 2021 increased 21.8% to RM33.08 million from RM27.15 million in the previous year’s corresponding quarter, largely due to the higher profit contribution from the domestic operations, which was mainly from higher unit sales. It reported a 27.9% increase in revenue to RM597.98 million in the current quarter under review as compared to the revenue of RM467.46 million registered in the corresponding quarter of the previous year. The improvement in sales volume for the domestic opera...

KUALA LUMPUR (March 10): Based on corporate announcements and news flow today, companies in focus on Thursday (March 11) may include Press Metal Aluminium Holdings Bhd, MNC Wireless Bhd, Genetec Technology Bhd, Hartalega Holdings Bhd, Alcom Group Bhd, UMW Holdings Bhd, Malaysia Airports Holdings Bhd, Censof Holdings Bhd, UEM Sunrise Bhd, Bermaz Auto Bhd, Chin Hin Group Property Bhd, Vizione Holdings Bhd and SEG International Bhd. Press Metal Aluminium Holdings Bhd has proposed to undertake a bonus issue of 4.04 billion new ordinary shares on the basis of one bonus share for every one existing...

KUALA LUMPUR (Dec 11): Analysts have trimmed their forecasts for Bermaz Auto Bhd (BAuto) as its sales margins have yet to recover fully despite the company posting stronger earnings for the second quarter ended Oct 31, 2020 (2QFY21). The car distributor's core net profit for the first half ended Oct 31, 2021 (1HFY21) came in below their estimates and that of the consensus as well. MIDF Research analyst Hafriz Hezry said while the margin of earnings before interest and tax (EBIT) was up 1.5 percentage points at 5.7%, it was still compressed by the six plus six years of free warranty and main...

KUALA LUMPUR (Dec 10): Based on corporate announcements and news flow today, stocks in focus for Friday (Dec 11) may include: Cymao Holdings Bhd, AirAsia Group Bhd, Bermaz Auto Bhd, Poh Kong Holdings Bhd, BIMB Holdings Bhd, Top Glove Corp Bhd, UMW Holdings Bhd, KUB Malaysia Bhd, Berjaya Land Bhd (BLand) and 7-Eleven Malaysia Holdings Bhd.   In response to Bursa Malaysia's unusual market activity query yesterday, Cymao Holdings Bhd said the group is in the final stage of discussion with several parties on a potential new viable business venture to reduce the plywood maker's reliance on its c...