MBM Resources' motor trading division posted stronger financial results due to the favourable demand of Perodua vehicles namely the Myvi, Axia and Aruz (pic).
KUALA LUMPUR: AmInvestment Research is maintaining its Buy call on MBM Resources (MBMR) with an unchanged fair value of RM4.05 based on a FY20F PE of nine times.
It said on Wednesday MBMR’s 1H19 core net profit was within with its expectations, accounting for 54% and 46% of its and consensus forecasts respectively.
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