{
  "id": 4781225,
  "title": "HLIB keeps sell on Tan Chong Motor amid weak sales",
  "url": "https://urgent.news/2026/09/01/hlib-keeps-sell-on-tan-chong-motor-amid-weak-sales",
  "topic": "world",
  "section": "World",
  "published": "2026-09-01T03:59:42.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1523290/hlib-keeps-sell-tan-chong-motor-amid-weak-sales"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Hong Leong Investment Bank (HLIB) has maintained its Sell recommendation for Tan Chong Motor Holdings Bhd despite some positive developments in the company's financial performance. In a recent note, HLIB expressed caution regarding the company's weak sales volumes. While Tan Chong Motor reported some improvement in the second quarter, with core losses narrowing to RM20.2 million, its core earnings for the first half of the year remained negative at RM50.6 million, a 23.2% year-on-year decline.\n\nThe investment bank highlighted that Tan Chong's Malaysia sales volume grew by 11.6% sequentially to 1,637 units, primarily due to increased demand for the newly launched TQ-Wuling Bingo EV. However, Nissan and UD Trucks sales remained flat. HLIB expects monthly Bingo EV sales to reach 300 to 500 units, targeting a strong performance in this segment.\n\nDespite a modest improvement in Vietnam, with sales of TQ-Wuling models increasing by 9% quarter-on-quarter, overall sales in the country declined by 30.5% year-on-year and 30.2% so far this year. This decline was mainly attributed to the discontinuation of the GAC SUV M6 and GS8 models. The Myanmar market showed significant growth, while Laos and Cambodia remained loss-making due to intense competition from new Chinese marques.\n\nHLIB kept its target price at 40 sen per share, based on 0.1 times its financial year 2025 book value per share, but remained cautious about the group's subdued sales volumes and ongoing competitive pressures, particularly from Chinese original equipment manufacturers.",
  "summary": "KUALA LUMPUR: Hong Leong Investment Bank Bhd (HLIB) has kept its \"Sell\" call for Tan Chong Motor Holdings Bhd as it remains cautious on the company's subdued sales volumes.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}