The automotive, agricultural and heavy equipment distributor RMA Cambodia (RMAC) has earned an after-tax profit of $11.8 million for the first quarter of this year, a decline of 2.5 percent compared to the same period last year, according to its latest report.
Meanwhile, its total assets amounted to $105 million for the first quarter of the year, going down by 10.8 percent compared to $118 million for the same period last year.
Ngorn Saing, CEO/Country Manager at RMA Cambodia told Khmer Times that the company’s profits fell due to decreasing car sales.
“The decline in the car sales was due to the impact of Covid-19 on Ford’s supply chain. Secondly, there was a shortage of cars after the government banned Euro 2 fuel engines in January 2022,” he explained.
He went on to add that for the first five months of 2022, the number of cars decreased marginally. “But we hope that from July 2022 the situation will improve, with the number of cars sales expected to go up.”
As expected, for car assembly companies in Pursat province, the demand for new cars is expected to increase and it helps a lot of Cambodians.
“We get support from Cambodians as we promote local products and create jobs,” he said.
RMA Cambodia Chairman Kevin Whitcraft said that for the first quarter it accomplished solid sales performance.
However, compared to 2021 sales of vehicles have gone down due to limited inventory – resulting from a combination of the temporary impact of new governmental regulation enforcing Euro 4 compatible vehicles and global logistic challenges.
“RMAC’s pipeline of orders from end-customers remains at high levels demonstrating the loyal customer base and excellent product line up in the RMA Group portfolio.
“RMAC has been very active with the organisation of multiple VIP trips and entertaining road shows to gain greater proximity with customers,” he pointed out.
RMAC has, meanwhile, invested in two new showrooms and workshop facilities (Pursat and Kampong Thom provinces) for its agricultural and heavy-equipment divisions.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
