Bermaz to continue riding on SST extension

TA Securities Research said Bermaz Auto will ride on the extended waiver of the sales tax under the Penjana plan until June 30, 2022

KUALA LUMPUR: After posting improved performance in the second quarter of the financial year 2022, Bermaz Auto Bhd may catch a further tailwind in the form of an extension of the sales and service tax (SST).

In the recently concluded quarter, Bermaz Auto posted core net profit of RM26mil, which was 5% higher year-on-year, despite a 19.3% drop in revenue.