PETALING JAYA: The recent strength of the ringgit against the US dollar is expected to boost earnings of automotive companies exposed to the greenback in the fourth quarter of this year.
Maybank Investment Bank Research (Maybank IB) said in a report that the recent uptick in hire-purchase loan applications and bank approval rates, together with the recovering ringgit, were opportunities spurring recovery in both total industry volume (TIV) and earnings.
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