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MBM Resources announces appointment of Group Chief Executive Officer

MEDIA STATEMENT

Kuala Lumpur, 2^nd January 2024 – 51���� (“MBM Resources”), today announced the appointment of En Rizal Mohd Zin as its new Group Chief Executive Officer effective 2nd January 2024.

En Rizal, aged 48, holds a Bachelor of Arts in Engineering and a Master’s in Engineering from the University of Cambridge, UK.

He has over 20 years of experience in the fields of corporate strategy planning and execution, transformation, performance management, mergers and acquisitions (M&A) and investment management. En Rizal was previously the Group Chief Strategy Officer of MNRB Holdings Berhad. Prior to that, he served as a Director of Investments at Ekuiti Nasional Berhad where he was involved in numerous investments and divestments, while creating value for its portfolio companies.

The Board of Directors, Management and staff of MBM Resources are very pleased to welcome En Rizal to the Group and look forward to working closely with him in continuing our journey to be the leading automotive group in Malaysia.

END.

ABOUT MBM RESOURCES BERHAD

51���� and its subsidiaries (“MBMR” or “the Group”) is an automotive conglomerate with diverse investments in the automotive industry. The Group has two core business areas which are Motor Trading, where MBMR is involved in the distribution and dealership of major international and local vehicle brands in Malaysia; and Automotive Parts Manufacturing consisting of steel wheels, safety restraint products (airbags, seat belts and steering wheels) and noise, vibration and harshness (NVH) products. The Group is a significant parts supplier to all major car manufacturers in the country as well as being well represented in all segments of the automotive retail market, including the commercial vehicle segment, and from compact entry level cars to luxury cars in the passenger vehicle sector. These include brands like Daihatsu and Hino in the commercial sphere, and passenger vehicle brands like Perodua, Volvo and Volkswagen.

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The Group declares second single tier interim dividend of 3.0 sen per share for FY16.

KUALA LUMPUR, 22 FEBRUARY 2017&�Բ�����;â€�Ĝ&�Բ�����;51���� and its subsidiaries (“M���Ѹ�” or the â€œG���dzܱ�”), one of Malaysiaâ€s leading automotive groups, today announced its financial results for the fourth quarter ended 31 December 2016 ( �4���16”), registering a slightly improved revenue of 2.3% at RM447.7 million as compared to RM437.7 million in the preceding yearâ€s corresponding quarter ( �4���15”). The increase in revenue is mainly attributed by the higher delivery volume from the Groupâ€s Auto Parts Manufacturing division, contributing 13.2% to the Groupâ€s total revenue for Q4FY16. �ѵ��Ѹ�â€s Profit Before Tax (“PBT”) for the quarter under review dropped by 58.1% to RM7.8 million from RM18.7 million in Q4FY15, upon recognising  one-off impairments of RM30.3 million. The PBT was however supported by the share of results of associates and the Joint Venture (“JV”) as a result of better margin, new model sales as well as the recovery of foreign exchange related costs. Excluding its one-off impairments, the PBT for Q4FY16 would have been higher by RM19.4 million as compared to Q4FY15.

�ѵ��Ѹ�â€s Motor Trading Division, on the other hand, experienced a marginal decrease of 0.1% in revenue at RM388.7 million for Q4FY16 as compared to RM389.1 million recorded in Q4FY15, due to softer demand in the passenger vehicle market as reflected by a 10.8% contraction in Malaysiaâ€s Total Industry Volume (“T����”) against the preceding yearâ€s corresponding quarter. The reduction, however, was mitigated by the continuing strong demand for the Volvo XC90.

Commenting on the Groupâ€s results, Executive Chairman of MBMR, �ٲ��ٴ�†Abd Rahim Abd Halim (“D���ٴ�†Abd Rahim”) expressed, “We are pleased that the Group remained resilient and continued to deliver operational growth despite the drop in TIV for Q4FY16 against the corresponding quarter. Due to the challenging economic environment, we have also made assessment on our investments and assets, and recognised some impairments on prudent ground. Looking forward, the outlook for the passenger vehicle market is expected to remain challenging subjected to factors such as continuous market uncertainty, lower consumer sentiment, stringent hire-purchase loan approval process as well as the volatility of Ringgit.”

For the full financial year review (“F�۷�16”), MBMR registered reduced revenue of 7.4% at RM1.7 billion and a contracted PBT of 39.0% at RM79.4 million as compared to RM1.8 billlion and RM130.2 million respectively for FYE15. The decline was mainly due to a one-off property contribution accounted for in FYE15. By excluding the one-off contribution, MBMR posted a marginal improvement of 0.6% in revenue and a contraction of PBT by only 5.8% for the financial year under review. Earnings per share stood at 15.9 sen per share for FYE16.

In respect of the financial year under review, the Board has declared a second single tier interim dividend of 3.0 sen per share, amounting to approximately RM11.7 million payable to all shareholders.

�ٲ��ٴ�†Abd Rahim added, “Notwithstanding the challenging economic landscape ahead, the Group will continue to streamline our operations through efforts in driving sales with new car models, providing improved aftersales service as well as cost management initiatives. We are optimistic for the growth of our Motor Trading division moving forward, fuelled by new and upcoming car models carried by automotive brands offered by the Group. We believe that the Auto Parts Manufacturing division will also be able to leverage on this aspect to deliver higher volume contribution as we kick off the new financial year.”

***

_{ABOUT MBM RESOURCES BERHAD}

_{51���� and its subsidiaries (“M���Ѹ�” or “the Group”)is an automotive conglomerate with diverse investments in the automotive industry. The Group has two core business areas which are Motor Trading, where MBMR is involved in the distribution and dealership of major international and local vehicle brands in Malaysia; and Automotive Parts Manufacturing consisting of wheels (both steel and alloy wheels), safety restraint products (airbags, seat belts and steering wheels) and noise, vibration and harshness (NVH) products. The Group is a significant parts supplier to all major car manufacturers in the country as well as being well represented in all segments of the automotive retail market, from light trucks to medium and heavy duty trucks and buses in the commercial vehicle segment, and from compact entry level cars to luxury cars in the passenger vehicle sector. These include brands like Daihatsu, Hino and Iveco in the commercial sphere, and passenger vehicle brands like Perodua, Volvo, Volkswagen, and Mitsubishi.}

_{Issued by: Esente Communications (M) Sdn. Bhd. on behalf of 51����}

_{�ٲ��ٱ�:Â��22 February 2017}

_{For more information, please contact:}

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At 9.02am, MBMR rose 7 sen to RM2.50 with 3,600 shares traded.

In a filing with Bursa Malaysia, it said the group’s share of associates’ results recorded a 120.1% rise to RM29.02 million as the Bezza, launched in July, was well received. It also registered improved sales volumes from Hino Motors Sales (M) Sdn Bhd.

MBMR holds a 20% stake in Perodua, or Perusahaan Otomobil Kedua Sdn Bhd, and a 42% stake in Hino Motors.

Revenue also climbed 5.05% to RM431.94 million in 3QFY16 from RM411.18 million a year ago on a better product mix.

However, its net profit for the cumulative nine-month period (9MFY16) was down 20% to RM58.5 million against RM72.99 million in the same period last year. Revenue was down 10% to RM1.23 billion from RM1.38 billion previously.

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KUALA LUMPUR, 23 NOVEMBER 2016&�Բ�����;â€�Ĝ&�Բ�����;51���� and its associates (“M���Ѹ�” or the â€œG���dzܱ�”), a leading domestic automotive group, today posted their financial results for the third quarter of the 2016 financial year ( �3���16”). The Group continued to show resilience amidst dampened market conditions, registering a Profit Before Tax (â€������”) for the quarter under review of RM 26.1 million, an increase of 109.4% from the previous yearâ€s corresponding period. The higher PBT was largely due to improved results from �ѵ��Ѹ�â€s associates, thanks to the successful launch of the Perodua Bezza in July, as well as higher sales volumes from Hino Motors Sales (M) Sdn Bhd (“H�ѳ���”).

Speaking on the Groupâ€s results, Looi Kok Loon, Group Managing Director of MBMR shared, “We are pleased to be posting improved results this quarter despite the sluggish conditions of the local automotive industry of the past year. Our Motor Trading Division for example, achieved increased revenue of 3.9% as compared to the same period last year, despite a contraction in Total Industry Volume (“T����”) of 12.4% against the same period. It affirms that the business strategy we have in place is firmly on track, as we continue to work on improving both our operations as well as enhancing our current capabilities.”

�ѵ��Ѹ�â€s Motor Trading Division registered a 28.6% improvement in PBT for Q3FY16, thanks to a favourable product mix from the launch of the Perodua Bezza as well as the Volvo XC90, which continue to enjoy popularity among consumers. Though still incurring losses, the Groupâ€s Auto Parts Manufacturing Division recorded higher deliveries of alloy wheels in the quarter under review, which boosted its revenue generation. Consequently, Earnings Per Share (“E�ʳ�”) attributable to shareholders of the Group for the year-to-date stands at 14.97 sen. Market conditions are expected to continue to remain challenging for automotive companies for the rest of 2016, with aggressive marketing campaigns and year-end sales expected to heighten as brands look to reduce their end-of-year stocks leading to sustained pressure on margins.

Looi added in closing, “Both the Board and the management of MBMR are firmly committed towards continuing to improve our efficiencies and margins moving forward, buoyed by new product launches and the sustained streamlining of our current operations. We believe that our strategic blueprint will continue to be viable, allowing us to ensure sustained value creation for all our shareholders, as we pursue our vision of becoming the Complete Automotive Group. The Group has an established track record in the automotive industry, so I believe we are ideally positioned to build upon our strengths to drive fiscally responsible growth.”

***

_{ABOUT MBM RESOURCES BERHAD}

_{51���� and its associates (“M���Ѹ�” or “the Group”) is an automotive conglomerate with diverse investments in the automotive industry. The Group has two core business areas which are Motor Trading, where MBMR is involved in the distribution and dealership of major international and local vehicle brands in Malaysia; and Automotive Parts Manufacturing consisting of wheels (both steel and alloy wheels), safety restraint products (airbags, seat belts and steering wheels) and noise, vibration and harshness (NVH) products. The Group is a significant parts supplier to all major car manufacturers in the country as well as being well represented in all segments of the automotive retail market, from light trucks to medium and heavy duty trucks and buses in the commercial vehicle segment, and from compact entry level cars to luxury cars in the passenger vehicle sector. These include brands like Daihatsu, Hino and Iveco in the commercial sphere, and passenger vehicle brands like Perodua, Volvo, Volkswagen, and Mitsubishi, as well as sports tuning brands, ABT and HeicoSportiv in addition to the Williams car care brand. Â} 

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