market share


On the front lines: Trade war sinks North Dakota soybean farmers

COLFAX, Aug 22 — North Dakota bet bigger on Chinese soybean demand than any other US state. The industry here — on the far northwestern edge of the US farm belt, close to Pacific ports — spent millions on grain storage and rail-loading…

Opec’s market share sinks — and no sign of wavering on supply cuts

LONDON, Aug 22 — Opec’s share of the global oil market has sunk to 30%, the lowest in years, as a result of supply restraint and involuntary losses in Iran and Venezuela, and there is little sign yet producers are wavering on their output-cut…

Research houses: Proton records positive growth, continues to outperform

KUALA LUMPUR, Aug 22 — Proton is continuing its positive momentum in the automotive sector after emerging as the only automotive company that recorded positive growth year-on-year (y-o-y), compared with its competitors. MIDF Research said the…

Chinese smartphone maker Xiaomi misses estimates as competition hots up at home

SHANGHAI: China’s Xiaomi Corp reported 15% growth in quarterly revenue on Tuesday, missing estimates, as fewer people bought smartphones at home and rival Huawei grabbed market share.

The company is weathering a bleak domestic smartphone market as economic growth in China slows and Chinese consumers rally in support of beleaguered rival Huawei.

Xiaomi’s stock has lost more than a quarter of its value so far this year.

The company’s revenue in the second quarter ended June 30 rose to 51.95 billion yuan ($7.36 billion) from 45.24 billion a year earlier.

That was short of the 53.52 billion expected by analysts, Refinitiv data showed.

Net income slumped 87% to 1.96 billion yuan. Still, adjusted profit of 3.64 billion yuan beat the 2.74 billion expected by analysts.

Xiaomi said total smartphone shipments in the second quarter rose to 32 million.

Huawei’s market share in China surged by 31% in the June quarter, according to market research firm Canalys, while Xiaomi’s share shrank by a fifth. But Canalys reckons Xiaomi’s shipments to Europe surged 48%.

The company, which listed last year, gets the majority of its revenue from mobile handsets, but also makes money selling online ads and other consumer devices.

Huawei has received a lot of support from Chinese customers who are buying the company’s phones after it was blacklisted by the United States, limiting access to U.S. components and technology.


Xiaomi’s internet services unit, which makes money primarily by placing ads across various apps, accounted for 8.8% of its revenue, flat from one year prior.

When Xiaomi listed in July 2018, executives touted the business unit as key to the company’s continued growth.

On an earnings call, leaders instead highlighted the company’s so-called “AIoT” strategy, short for “Artificial Intelligence and Internet of Things,” in which it invests in artificial intelligence and smart home devices.

The firm has invested in several companies making semiconductors or other key hardware components, trying to emulate the success of Huawei’s HiSilicon semiconductor division.

In the second quarter, Xiaomi funded Verisilicon, a Shanghai-based chip design firm. It also invested in Bestechnic, which designs chips for audio devices.

Several of the companies in which Xiaomi has invested had recently listed or plan to list on China’s newly-opened STAR market, including scooter-maker Ninebot, which acquired the Segway brand in 2015.

Xiaomi’s chief financial officer, Chew Shou Zi, said the investments stem in part from the company’s hopes to build a “Chinese supply chain”, while improving its internal research and development abilities. – Reuters

Bursa edges lower amid cautious opening

KUALA LUMPUR, Aug 21 — Bursa Malaysia opened lower today tracking overnight losses of global indices amid cautious investment tone. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 2.83 points to 1,599.92, after opening 1.52…

Bursa Malaysia opens lower amid cautious investment tone

KUALA LUMPUR: Bursa Malaysia opened lower today tracking overnight losses of global indices amid cautious investment tone.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 2.83 points to 1,599.92, after opening 1.52 points lower at 1,601.24.

The market barometer closed at 1,602.75 yesterday.

On the broader market, losers outpaced gainer 112 to 87, while 146 counters unchanged, 1,610 untraded and 14 others suspended.

Turnover stood at 68.98 million units worth RM30.35 million.

Malacca Securities Sdn Bhd in its equity note today said, the FBM KLCI is expected to be on the road of recovery due to the oversold condition, despite weakening global indices.

“We do see some tempering of the recovery prospects and renewed volatility could still be a near term feature.

“Under the prevailing environment, we think the near term upsides could be limited with the 1,610 level becoming the near term resistance,“ it said.

As for market rebound, it said that the lower liners and broader market shares will continue their rebound, but with increased volatility as profit-taking activities could set in.

“Nevertheless, we still see mild upsides over the near term as bouts of bargain hunting activities will provide some aiding factors,“ it added.

Global indices, Dow Jones Industrial Average lost 0.66% to 25,962.44, Japan Nikkei slid 0.68% to 20.535.64, Hong Kong Hang Seng reduced 0.23% to 26,231 and South Korea’s KOPSI fell 0.02% to 1,959.80.

On heavyweight performance, Press Metal and Kuala Lumpur Kelong both declined six sen to RM4.75 and RM23.76, respectively, while Tenaga Nasional, CIMB Group and DIGI all shed two sen to RM13.68, RM5.16 and RM5.00, respectively.

For the most active stocks, Sealink gained 2.5 sen to 29.5 sen, Brahims, Dagang Nexchange and Icon all added half-a-sen to 16.5 sen, 26 sen and 6 sen, respectively.

The FBM Ace gained 3.39 points to 4,611.57, the FBM 70 declined 13.96 points to 14,169.28, the FBM Emas Index erased 18.98 points to 11,330.69, the FBM Emas Shariah Index depreciated 27.60 points to 11,851.18 and the FBMT 100 Index was 17.71 points lower to 11,167.06.

Sector-wise, the Financial Services Index was 7.31 points lower for 15,598.31, the Plantation Index discounted 23.36 points to 6,738.01, and the Industrial Products and Services Index inched down 0.37 of-a-point to 149.64. – Bernama

Proton expected to zoom past Honda in year-to-date market share

PETALING JAYA: Proton is expected to overtake Honda in the year-to-date (YTD) market share, helped by volume-oriented models like the Persona and Iriz, according to AmInvestment Bank.

It said that based on a media report recently, Proton registered a total sales volume of 8,600 units in July, translating into a market share of 16.5% for the month and 15% on a YTD basis.

The total sales for Proton for the first seven months of 2019 (7M19) stood at 52,200 units, recording a growth of 48% year-on-year.

“While we have yet to receive the official MAA (Malaysian Automotive Association) numbers for the other brands and the total TIV (total industry volume) breakdown, it is highly likely that Proton has ousted Honda and claimed its position as the runner-up in YTD market share.

With the sustained momentum and deliveries from volume-oriented models like the Persona and Iriz, we strongly believe that Proton will finish second by the end of 2019, behind the national titan Perodua,“ it said in a report today.

Perodua, meanwhile, posted a total sales volume of 19,100 units in July. It is maintaining its sales target of 235,000 units for 2019.

“We strongly believe that the national marques’ sales volume will continue to be the key driver of the local automotive space.

“With the recent launch of the Saga (latest version), we believe that Proton will be able to maintain its sales volume momentum through the remaining months of the year. We also look forward to the upcoming X70 CKD in November, where DRB-Hicom’s management has guided that there will be a price reduction for the popular SUV,” said AmInvestment Bank.

July 2019 TIV rose 20% mom but dipped 26% yoy to 50,900 units. The year-on-year decrease in July this year was due to a high base from 2018’s tax holidays. Cumulatively, 7M19 TIV was down 3% to 347,200 units from 358,100 units in 7M18.

“YTD TIV was within our forecast of 603,000 units for 2019, accounting for 58% of our full-year estimates,” it added.

AmInvestment Bank has ‘buy’ calls on Bermaz Auto Bhd, DRB-Hicom Bhd, MBM Resources Bhd, Pecca Group Bhd, Sime Darby Bhd and Tan Chong Motor Holdings Bhd while it is underweight on APM Automotive Holdings Bhd.

“We are now upgrading the automobile sector to overweight based on our recent upgrade on Sime Darby to buy. We believe that the stock’s valuation is undemanding at current levels and we are now recommending a buy on weakness of the share price. We now have six buys out of the eight stocks under our automobile sector coverage,” AmInvestment Bank said.

Humbled Deutsche Bank faces battle in its own backyard

FRANKFURT, Aug 20 — Online retailer Zalando is just the kind of fast-growing German business with foreign expansion plans that Deutsche Bank Chief Executive Christian Sewing needs to help drive the struggling lender’s recovery. In an attempt to…

BToto posts RM975m revenue for May-June

PETALING JAYA: Berjaya Sports Toto Bhd (BToto) reported RM974.9 million in revenue for the two-month period ended June 30, 2019, substantially contributed by sales from the number forecast operation (NFO) business by Sports Toto Malaysia Sdn Bhd and also from the auto retailing business operated by HR Owen Plc.

However, it saw a loss before tax of RM26.8 million, mainly attributed to the impairment of goodwill and assets of the disposal group relating to the leasing of lottery equipment business in the Philippines.

“The group would have registered a pre-tax profit of RM51.6 million had the impairment of goodwill and assets of the disposal group been excluded,“ BToto said.

Due to the change of financial year end, the group’s performance of the current interim and cumulative period results are not comparable against the comparative period.

For the cumulative 14-month period, the group registered RM6.7 billion in revenue, mainly attributed to revenue from Sports Toto, HR Owen and Philippine Gaming Management Corporation (PGMC). PGMC is classified as discontinued operation in the current interim two-month and 14-month period ended June 30, 2019.

Meanwhile, its pre-tax profit came in at RM404 million.

BToto’s board does not recommend any interim dividend for the current two-month period, but the total dividend distribution for the financial period ended June 30, 2019 was about RM215.5 million, representing about 91.7% of the group’s attributable profit for the 14-month financial period.

BToto anticipates that the performance of the NFO business of Sports Toto will be satisfactory and is confident that the group will continue to maintain its market share in the NFO business for FY20.

Bursa Malaysia opens lower as investors awaits GDP announcement

KUALA LUMPUR: Bursa Malaysia opened lower today as investors await second-quarter and first-half gross domestic product (GDP) announcement by Bank Negara Malaysia this afternoon.

The broader market was, however, positive with gainers edged losers 104 to 66, while 126 counters were unchanged, 1,634 untraded and 14 others suspended.

Turnover stood at 50.60 million units worth RM25.61 million.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 3.83 points to 1,596.46, below the psychological support level of 1,590 from yesterday’s close of 1,600.29.

The index opened 2.23 points lower at 1,598.06.

Malacca Securities Sdn Bhd said the announcement of second-quarter growth will influence the direction of market barometer today.

“However, the ongoing results reporting season is seeing mixed-to-lower results that will still keep market conditions mostly guarded.

“Despite the still insipid market conditions, we think that mild bouts of bargain hunting activities could help to prop-up the FBM KLCI and possibly allow it to end the week on a more positive note,“ it said.

The research house also said that with the key index holding on to the psychological 1,600 points level, the resistances would remain at 1,610 and 1,620 levels, while supports are at 1,580-1,590 levels.

“We see the mild positivity extending to the lower liners and broader market shares that could allow indices like the FBM Small Cap and FBM ACE to also end the week on a more positive note, albeit we continue to think that participation is likely to remain on the thin side due to the continuing cautiousness,“ it said.

As for the heavyweight performance, Kuala Lumpur Kepong lost 32 sen to RM23.58, Digi and Dialog both shed one sen to RM4.98 and RM3.51, respectively; while Press Metal and IHH both lost four sen to RM4.72 and RM5.64 respectively.

For the most active stocks, Datasonic and Iris gained one sen to 91.5 sen and 16.5 sen respectively, Datasonic’s warrant was up half-a-sen to 43.5 sen and Genting Malaysia gained four sen to RM3.11 while Ekovest was flat at 81 sen.

The FBM Ace added 24.44 points to 4,616.05, the FBM 70 down 20.95 points to 14,080.28, the FBM Emas Index lost 22.50 points to 11,294.98, the FBM Emas Shariah Index depreciated 38.53 points to 11,810.30 and the FBMT 100 Index slid 24.34 points to 11,132.06.

Sector-wise, the Financial Services Index was 7.58 points lower at 15,548.80, the Plantation Index discounted 44.48 points to 6,758.95, and the Industrial Products and Services Index inched down 0.23 of-a-point to 149.40.

The physical price of gold as at 9.30am stood at RM198.56 per gramme, up RM1.06 from RM197.50 at 5pm yesterday. — Bernama