KUALA LUMPUR: The strengthening ringgit bodes well for the domestic auto sector, serving as one of the sector's catalysts for this year, says MIDF Research.
The research firm said UMW Holdings Bhd
and Tan Chong Motor Bhd in particular are key beneficiaries to the rising strength of the ringgit against the US dollar as both are exposed to US dollar-denominated import of completely knocked-down (CKD) kits and completely built-up (CBU) vehicles.
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