Equity Analysis /
Malaysia

MY : Autos - TIV recovery back on track in Feb

    Mohd Shanaz Noor Azam
    Mohd Shanaz Noor Azam

    Technology Analyst

    CGS-CIMB
    28 March 2022
    Published by

    TIV in Feb 2022 grew 8% mom due to recovery in production volume for national brands, such as Proton, which was affected by floods in Dec 21. We see higher TIV from Mar 22 onwards in view of robust backlog orders followed by Raya festivities and ahead of SST holiday expiry at end Jun-22. We stay Neutral on Malaysian autos, with Bermaz as our sector top pick.