Strong ringgit a boon for MR DIY

PETALING JAYA: MR DIY Group (M) Bhd’s earnings outlook is expected to be supported by the strengthening of the ringgit against the Chinese yuan, says CGS International Research (CGSI Research).

The research house said the 5.3% average appreciation of the ringgit relative to the yuan in the third quarter of 2024 (3Q24) versus the first half of 2024 is a positive for the home improvement retailer’s margins.