$MBMR / 5983 (MBM RESOURCES BHD)
Research by MIDF
NEUTRAL – TP RM4.90

"Results Right on Target"

• 2QFY24 results were within our expectations
• Perodua sees strong demand with double-digit increase in unit sales
• Volvo and Volkswagen sales remain subdued; Daihatsu’s commercial vehicle sales struggle with model limitations
• Maintain NEUTRAL with a revised TP of RM4.90

Analyst:
MIDF Research Team
research@midf.com.my