A Perodua customer care executive (right) assisting a customer at a showroom in Sungai Buloh. — AZLINA ABDULLAH/The Star
PETALING JAYA: Betamek Bhd
, which has emerged as a key electronics manufacturing services (EMS) supplier to Perusahaan Otomobil Kedua Sdn Bhd (Perodua), will continue to ride on the latter’s strong sales performance, says Hong Leong Investment Bank (HLIB) Research.
In 2021, Betamek supplied 63.2% of the volume of Perodua vehicles sold.
“Being Perodua’s key supplier, Betamek’s earnings are expected to align with Perodua’s strong performance, which recorded sales of 21,400 units in January 2023,” said HLIB Research in a note to clients.
According to the research firm, Perodua’s management recently disclosed an ambitious sales target of 314,000 units for 2023, which implies a year-on-year growth of 11.3% after achieving a record high of 282,000 units in 2022.
The research firm said this impressive target was backed by healthy order backlogs of 220,000 units and an increase in planned production for the year to 330,000 units (versus 289,100 units in 2022).
“Perodua recently launched the all-new Axia replacement model for RM38,600- RM49,500 in mid-February with over 20,100 bookings recorded. We expect another two model updates for 2023 and a new hybrid electric vehicle in 2024,” said HLIB Research.
In the financial year 2022, the provision of EMS products to Perodua accounted for over 90% of Betamek’s revenue.
