星期一 2025年 10月 06日
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受OPR下调影响 汽车制造商利润或减

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由于国家银行将隔夜政策利率(OPR)下调至3.0%,令人沮丧的令吉可能会对汽车业者的利润产生负面影响。

MIDF 研究行将陈唱摩多控股有限公司(TCHONG,4405,消费产品组),合顺控股有限公司(UMW,4588,消费产品组) 和成功汽车有限公司(BAUTO ,5248,贸易服务组)列为对外汇交易敏感的公司。

“美元兑令吉的每1.0%变动,将影响陈唱对2019年12月31日(FY19)财政年度的预测收益12%,其次是合顺控股,美元和日元的每1.0%变化将对该公司收益率产生3.0%变化和成功汽车(日元兑令吉每变化1.0%对该公司产生1.4%变化)。”

该研究机构表示,成功汽车对日元的敞口主要来自其完整的购买量,占马自达总产量(TIV)的30%左右。

与此同时,MBM资源有限公司(MBMR,5983,贸易服务组)对外汇变化最不敏感,因为其收益主要包括第二国产车Perodua,其中包含超过90%的模型高度本地化。

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不过,该公司表示,下调隔夜政策利率可能刺激消费者支出并可能增加总产量。

“我们保持对汽车公司的正面看法,这些公司以全国汽车攻势为前提,新车型推出,填补了模型组合的空白,导致结构性市场份额扩大。”

它补充说,今年迄今的总产量增长主要由宝腾和第二国产车型号推动。

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