KUALA LUMPUR: CIMB Equities Research does not expect national car maker Proton to turn around in FY15 as the research house reduced its FY14-16 forecasts for the parent company DRB-Hicom by 8% to 34%.
It said on Monday DRB-Hicom barely broke even in 3QFY14. As a result, its 9MFY14 core net profit came in below its and consensus expectations, at 46% of the research house’s full-year forecast.
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