The group’s core loss after tax and minority interests multiplies five times to RM46 million in Q2 FY2023.
Tan Chong Motor Holdings Bhd faced a difficult first half of 2023 due to intense competition, regional instability and other factors.
In a note today, the research firm noted that Tan Chong’s core loss after tax and minority interests multiplied five times to RM46 million in the second quarter of financial year 2023 .For the first half of FY2023, Tan Chong posted a Latmi of RM55.8 million, falling short of both HLIB’s expectations and consensus estimates.
Furthermore, HLIB anticipates additional challenges in the second half of FY2023, namely the continued appreciation of the US dollar and rising cost of logistics and material.
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