“Both are exposed to dollar-denominated imports of completely-knocked-down kits and completely-built-up units.
“TCM’s bottom line is more sensitive to foreign exchange movements as its FY23 net profit is close to break-even levels,” it noted., which is exposed to the yen, is set to reduce its forex exposure. BAuto, which is primarily engaged in the distribution of Mazda vehicles in Malaysia and the Philippines, ventured into the distributions and provisions of after-sales services and spare parts of two new vehicle marques during the financial year ended April 30, 2021, namely Peugeot and Kia.
“On top of this, players are entering 2023 with a strong six to nine months order backlog and new launches are set to re-accelerate following delays in the past year.” According to projections, vehicle sales for 2022 are set to surpass the 700,000-mark for the first time. The official figures will be announced this Thursday by the Malaysian Automotive Association .