PMM’s bottom line buoyed by lower material costs

HLIB Research said that PMM could be a beneficiary of higher discretionary spending from the government’s income boosting measures.

PETALING JAYA: Hong Leong Investment Bank (HLIB) Research is maintaining a cautious outlook on Panasonic Manufacturing Malaysia Bhd (PMM), as the group’s growth could be muted due to suboptimal plant utilisation.

In a note published yesterday, the research house reported that PMM’s lower plant use is due to the company’s discontinuing the manufacturing of kitchen appliances products as a result of a global production realignment for Panasonic Group.