The ownership of Perodua 🚘

Perodua stands as a prominent player in the Malaysian automotive industry, commanding a sizable 41.3% share of the market. This dominance can be largely attributed to the popularity of models such as the Bezza and Myvi, with the latter historically reigning as Malaysia's top-selling car for five consecutive years until recently, Bezza has overtaking it.

However, it may come as a surprise that Perodua's ownership is not centralized under a single entity. Instead, ownership of Perodua is distributed among several parties:

📍$UMW / 4588 (UMW HOLDINGS BERHAD): Holds a 38% stake. Following its acquisition by $SIME / 4197 (SIME DARBY BERHAD), these shares are now under the control of SIME. Notably, PNB emerges as the largest shareholder of SIME, boasting a 50.3% ownership stake. Consequently, it's estimated that PNB indirectly possesses 19.11% of Perodua shares through its majority stake in UMW, complemented by its direct 10% ownership, resulting in a total shareholding of 29.11% in Perodua?
📍Daihatsu: Holds a 25% stake and operates as a subsidiary of Toyota.
📍$MBMR / 5983 (MBM RESOURCES BHD): Holds a 20% stake. Notably, Med-Bumikar Mara emerges as the largest shareholder of MBMR, commanding a 50.07% ownership stake. However, Med-Bumikar Mara's ownership is distributed among seven entities. The largest among these is MARA, holding a 29.18% stake in Med-Bumikar Mara, followed by various other families including Tan Sri Ahmad Azizuddin Family (13.47%), Yap Family (11.75%), Datuk Abdul Rahim Family (11.74%), Looi Family (11.72%), Wong Family (11.17%), and Ng Family (10.21%).
📍PNB: Holds a 10% stake.
📍Mitsui & Co: Holds a 7% stake. Mitsui & Co stands as one of the top five Japanese firms and has significant investments in Malaysia, including involvement in the plastic business acquired from $SCGM / 7247 (SCGM BHD), as well as interests in FPSO and Lalaport through its subsidiary companies.

Hence, given Perodua's non-listed status, accessing the company's financial performance directly proves challenging. However, for insights into Perodua's operations, we may turn to MBMR instead of SIME. This preference stems from the fact that SIME, being a significantly larger and more diversified entity, might not offer as clear a picture of Perodua's specific financial dynamics.