Challenging automotive industry - stiff competitions. Tan Chong Motors/Nissan is a good example. Maybe there will be consolidation in the automotive industry. Nissan reported planning to seek Tesla investment for the EV industry after merger talks with Honda failed.

Mazda is relatively small compared to others mainstream manufacturers. If Bermaz able to bring the latest and updated models from Mazda in a more consistent and faster pace, local buyers may still pick Mazda cars for their distinctive looks and qualities

Yesterday went to see the mazda cx60 at the showroom, unfortunately price isn't available yet but the car looks bigger than cx5, premium and comfortable. Currently there 5 units in malaysia. Seems like maybe the will be base model with 2.5l engine that price close to cx8

Right now, topline and bottom line figures pointing to Bauto entering low cycle phase. This is the 2nd time that the mgmt will be tested, Choong. First was during Covid and they handled it well including growing the business/sales.

all their product pricing not competitve in malaysia market, only the die hard mazda fans will buy. we all know our population income not high confirm must spent wisely especially this kind of "moving assets" if want to get a premium brand mostly will terus upgrade to benz/bmw/lexus

Any influence of the CBU and CKD EVs tax exemption timeline that could be affecting its models line-up? CBU EVs tax exemption expiring end of 2025 and CKD EVs tax exemption expiring in 2027. Not in time to get the CKD assembly up and running to enjoy the tax exemption.

Thanks, Choong. You may want to keep an eye on the inventories movement from the report. It remains elevated and moving rather slow. Hence, my personal assumption that its in the low cycle phase; could be wrong though :) I am hoping its a cyclical problem rather than structural. Still observing the industry as a whole.

Last financial year the Bermaz management fail to forsee the and prepare the threat from chinese cars even proudly mentioned they won't go into price war. This show they failed to gauge the market is not on price itself but rather the products offerings and new innovations. Unfortunately we shareholders have to bear the serious consequences due to Bermaz management incompetence

Lets see how it goes next week. It should stabilize after the MSCI balancing yesterday. Bauto, Hibiscus, Drbhcom, Taann and Padini were removed from small cap index. You will observe these 5 having higher than normal volume. Index fund has to sell their position.

Local funds/insti shall be the market maker moving forward with no participation from global index funds. Being removed from the MSCI small cap index is a heavy blow - declining market cap and global small cap/growth funds/insti confidence on its fundamentals. Its going to be tough without models & competitive pricing.

With the change of landscape in the automotive industry, is very difficult for Bermaz to reach new high or even recover to previous price in 5 years or maybe longer than that. Even with the new 3rd generation of CX5 coming. Now short term obstacle whether Bermaz can stop it share price from continue sliding to a very low level

Share price probably wont slide too much further due to dividend yield, Choong. Not expecting a V-shape recovery of share price either given the challenges that they are facing now. The risk of lower dividend for FY25 is pretty much confirmed based on the balance sheet for the last two quarters. Last year share buybacks amounted to slightly more than 6M at the back of 26 cents total dividend payout and its approx 5.6M ctd in FY25 at the back of 13.5 cents dividend payout. Fair deal to have lower dividend payout in FY25 given the share buyback amount. Safe to assume that special dividend in FY26 will not be at 7 cents. My personal opinion is that income holders will not relinquish their positions as long as FY26 dividend payout is within 10 to 15 cents range. If the dividend payout goes way lower, then, you can expect share price to go way lower than current low. Just my personal opinion, could be wrong :)