PETALING JAYA: Tan Chong Motor Holdings Bhd
’s earnings are expected to remain soft in the quarters ahead, due to weaker demand for its model line-ups and rollouts.
Maybank Investment Bank (Maybank IB) Research said the market response for its Malaysian vehicle sales was underwhelming, with a decline of 33% year-on-year (y-o-y).
“Sales were below pandemic levels a year ago (despite selling during the sales and service tax holidays up to end-March 2023), while its overseas operations remain loss-making,” the research house said in a report yesterday.
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