CIMB cuts profit forecast for Malaysia's Proton

Newswire

KUALA LUMPUR, July 21 (Reuters) - Malaysian brokerage CIMB Securities cut its earnings forecast on Thursday for the country's biggest carmaker, Proton Holdings Bhd , by 14-19 percent, citing poor sales bookings for its latest model. CIMB revealed the downgrade to its Proton earnings estimate for the year to end-March 2007 in a note emailed to clients. It did not publish the new estimates. In February, the broker had estimated 2006/07 net profit for the state-controlled firm at 1.022 ...

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