Email This Print This Financial Information

Quarterly Results

Filter By Year :  Latest |  2017 |  2016 |  2015 |  2014 |  2013 |  2012 |  2011 |  2010 |  2009  |  All

Quarterly Report For The Financial Period Ended 30 September 2018

Condensed Consolidated Statement Of Profit Or Loss For The Quarter Ended 30 September 2018

Statement Of Profit Or Loss For The Quarter Ended 30 September 2017

Condensed Consolidated Statement Of Financial Position As At 30 September 2018

Financial Position Quarter Ended 31 March 2017

Analysis Of Performance Of All Operating Segments

The Group's revenue increased by 13.0% to RM3,691.4 million with profit before taxation (PBT) of RM94.9 million (+211.1% YoY) for the quarter ended 30 September 2018. The financial position of the Group continued to improve with the reduction of net debt and inventory to RM805.1 million (-38.8% YoY) and RM909.1 million (-22.0% YoY) respectively. This is arising from the Group's on-going measures to improve inventory holding management to ensure a sustainable financial position. As at 30 September 2018, the Group's retained earnings was RM1.78 billion. The net assets per share was at RM4.30 (+0.5% YoY). Further analysis of the segments is explained as follows:

  1. Vehicles Assembly, Manufacturing, Distribution & After Sales Service (automotive)

    The automotive division recorded a higher revenue of RM3,610.4 million (+12.8% YoY). There is an improvement in the segment's EBITDA of RM190.1 million (+291.2% YoY). Revenue was higher due to higher number of vehicles sold during "tax holiday" sales period and sales of the newly launched Nissan Serena in Malaysia.

  2. Financial Services (hire purchase and insurance)

    The financial services division recorded a higher revenue of RM69.6 million (+21.5% YoY) and EBITDA of RM17.6 million (+14.2% YoY). The increase in revenue was due to higher loan book size as of 30 September 2018 compared to previous year.

  3. Other Operations (investments and properties)

    Revenue from other operations was higher at RM11.3 million as compared to RM6.0 million in the previous year. EBITDA was RM10.5 million as compared to loss RM1.3 million in the previous year. The higher revenue was contributed by contact centre operations. The improvement in EBITDA was mainly due to net foreign exchange gain of RM13.2 million recognised in the quarter ended 30 September 2018 arising from financing overseas entities denominated in foreign currencies.

Current Year Prospects

While sales of new vehicles have increased during the "tax holiday" period before the re-introduction of sales and service tax (SST) which came into effect on 1 September 2018, the market is expected to remain challenging thereafter. Demand for new vehicles is expected to be dampened in the post-tax holiday period following the implementation of the new SST in a competitive business environment with strict lending guidelines. On the global front, the intensifying trade tensions between two of the world's largest economies could continue to impact global trade and heighten market volatility. These external uncertainties may affect the direction of the ringgit.

Although the business environment is anticipated to remain challenging, the Group expects to perform satisfactorily this year.