Berjaya Auto unit seeks listing in the Philippines

Cars from Japan and the US are expected to be cheaper to import in the first 12 years. However, Malaysia can retain the excise duties prevailing at that time.

PETALING JAYA: Berjaya Auto Bhd (BAuto) said its unit in the Philippines is seeking a listing on the local bourse, even as the Mazda vehicles distributor warns of tougher operating conditions at home and abroad.

BAuto, which holds the Mazda franchise in Malaysia and the Philippines, said yesterday that its net profit in the first quarter ended July 31 declined 21% to RM41.1mil on the back of a 3.7% drop in revenue to RM493.6mil.