Bermaz to deliver robust sales volume in FY19F, says CIMB Research

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KUALA LUMPUR (Oct 8): CIMB IB Research has a “Hold” rating at RM2.06 with a target price of RM2.30 and said it expects Bermaz to deliver robust sales volume in FY19F, driven by the popular Mazda CX-5, but this is likely to be partly offset by weakened demand in the Philippines due to higher car prices from the new excise tax.

In a note Oct 6, the research house said the stock still offers an attractive CY19F yield of 6.5%.