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Tan Chong Motor's Share Price Dropped To Its Lowest Since 2004

Anis

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DSC_0077-full-full.jpg Tan Chong Motor Holdings Bhd's stock fell to its lowest level in two decades on Wednesday. Following higher-than-expected quarterly losses, the company's share price dropped to just 70.5 sen yesterday, the lowest level since April 2004, according to The Edge.
Despite having a market capitalisation of RM474 million, Tan Chong, which holds the Nissan and Renault franchises in Malaysia, sold only 4,811 units in the first half of the year, a 9.5% decrease from the same period in 2023. Operating profits also fell by 27.3% year on year. Nissan-Almera-Ext-4-full-full.jpgNissan-Almera-Rolling-7-full-full.jpg
In a note issued on Wednesday, Hong Leong Investment Bank (HLIB) Research reiterated its sell call on the stock, citing the group's continued low sales volume amid deteriorating market conditions. The research firm's target price remains 65 sen, based on 12 times of unchanged price/earnings ratios applied to expected 2025 earnings, implying that the share price still has a long way to fall.
However, Tan Chong should profit from the recent share price increase of the ringgit relative to the US dollar, according to HLIB Research. At home, it claimed that appealing new launches by several rival OEM manufacturers have kept the Malaysian market competitive. Caricarz-WA-GAC-Aion-YPlus-MAS2024-5-full-full_normal.jpg

The group's sales volume is anticipated to increase starting in FY2025 thanks to the anticipated release of the new e-POWER Nissan Kicks in the fourth quarter that ends on December 31, 2024 (4QFY2024) and new GAC models in Vietnam.




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Written By

Anis

Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........

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JPJ Running Numbers

KUALA LUMPUR

VQH394

SELANGOR

BSL5310

JOHOR

JYP4504

PULAU PINANG

PRX4547

PERAK

APD9636

PAHANG

CFE7094

KEDAH

KGD7389

NEGERI SEMBILAN

NEJ2367

KOTA KINABALU

SJP6731

KUCHING

QAB9843M

Last updated 09 Jan, 2026

Fuel Price

Petrol

RON 95

RM 2.54

-0.02

RON 97

RM 3.11

-0.05

RON 100

RM 5.00

VPR

RM 6.23

Diesel

EURO 5 B10

RM 2.89

-0.05

EURO 5 B7

RM 3.09

-0.05

Last updated 08 Jan, 2026

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