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NEWS UPDATES 18 August 2010


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Proton Holdings Bhd, the government-owned car manufacturer, has announced its new goals are achievable as market share and exports are expanding.

New models planned, including the new Waja which is expected to make its debut in the coming months, will push the national carmaker's market share and revenue growth, MIDF Research said in a research note today.

The new models are expected to open up greater sales opportunities that would translate into better market share and provide the boost to the company's revenue growth, it said.

Proton announced yesterday that it was targeting to achieve 20 percent growth in revenue for the financial year ending March 31, 2011, under its headline KPIs.

Contribution of export sales to revenue is set to be 8.4 percent while the domestic market share for passenger vehicle segment is targeted to grow at 33 per cent.

MIDF Research said Proton's current export markets are the African nations, the Middle East and countries in Asia Pacific region, including Australia.

According to MIDF Research, there are no major earnings surprises expected for the current financial year.

"Sales are improving, rising 18 percent year-on-year to 80,126 units for first half 2010 with market improving to cross the 30 percent level," it said.

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