KUALA LUMPUR: CIMB Equities Research has advised investors to switch to its top pick, Tan Chong as it believes there is no easy fix for Proton, which it expects will continue to drag DRB-Hicom’s bottomline.
“We believe that the launch of its global small car (GSC), slated for 4Q14, is a potential game-changer. Proton needs the GSC to be a success to follow in Lotus’s footsteps and revive its fortunes. Lotus’s global sales rose 31% on-year in 1QFY06/15,” it said on Monday.
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