KUALA LUMPUR (June 22): Maybank Investment Bank Bhd (Maybank IB) foresees unnecessary issues over the next nine months in the automotive sector with a rise in speculative bookings until end-June 2022 followed by cancellations until end-March 2023. In a research note on Wednesday, analyst Liaw Thong Jung said the bank also foresees the situation to give rise to issues involving salesmen and dealers over the next nine months. He said the speculative bookings will rise over the next 10 days. This would result in a weaker 2H22 for the sector and a strong first quarter for 2023, the report said. Without the waiver, collections from excise and import duties would likely be lower due to lower car sales.
Source: The Edge Markets June 22, 2022 20:18 UTC