Perodua MyVI to be sold overseas

MOTOR vehicle assembler and distributor MBM Resources Bhd expects that Perusahaan Otomobil Kedua Sdn Bhd's (Perodua) latest compact car, Myvi, will be exported.

“Myvi will be exported, but the question is timing because local demand needs to be met first,” managing director Datuk Abdul Rahim Abdul Halim said after MBM's AGM in Kuala Lumpur yesterday.

Datuk Abdul Rahim Abdul Halim
“The car would be exported either as completely-knocked-down or completely-built-up, depending on the target markets,” he said, without disclosing the markets being eyed.

Abdul Rahim said Myvi qualified for export because 80% of its components were sourced locally.

MBM, which has a 25% stake in Perodua, foresees a boost in group earnings for 2005 with the introduction of Myvi. “Looking at the first quarter of 2005 on a year-on-year basis, the Malaysian automotive industry saw 17% to 18% increase in sales,” he noted.

Myvi was jointly developed by Perodua's local engineers and their counterparts from Daihatsu Motor Co Ltd of Japan.

MBM's turnover for the financial year ended Dec 31, 2004 rose 4.8% to RM805.8mil from RM768.5mil the previous year. However, it’s pre-tax profit dropped 35.9% to RM72.6mil.

via thestar