PROTON TO POST FAVOURABLE RESULTS ONE BACK OF NEW MODEL, SAYS OSK

KUALA LUMPUR, Aug 30 (Bernama) -- OSK Research Sdn Bhd expects Proton Holdings
Bhd to post favourable results in the shorter term on the back of its new model
pipeline going forward in addition of the much improved operating landscape.

It is maintaining its "buy call" on Proton being the cheapest auto stock under
its coverage which is only trading at forward price-per-earning of 7.2 times
versus the sector average of 10 times.

Proton shares are hovering five sen higher to RM4.56 as at 10.20am on Bursa
Malaysia.

"We make no changes to our earnings estimates for Proton pending more
clarification from the management on how the injection to Lotus will be
structured (whether a new issuance of shares will be involved)," it said in a
research note Monday.

On Proton's foray into the Indian market, OSK Research said: "We believe it is
too early to tell how this would contribute to earnings although we are still
generally positive on whatever the outcome given the market potential."
-- BERNAMA