Tag: CIMB

Rising Oil Prices Expected to Boost EV Adoption in Malaysia, Says CIMB Securities

KUALA LUMPUR: Malaysia’s transition towards electric vehicles (EVs) is likely to gain momentum בעקבות rising global crude oil prices, particularly among buyers in the premium internal combustion engine (ICE) segment, according to CIMB Securities Sdn Bhd. In a research note released today, the firm projected that EV adoption across the country will accelerate in 2026, driven in part by the anticipated launch of the Proton e.MAS 5. Continued tax incentives for locally assembled (CKD) EVs are also expected to support this growth. At the same time, CIMB Securities noted that the recent temporary adjustment to the BUDI95 fuel quota is unlikely to significantly impact the mass market segment. This is because most national car models are designed with smaller engines and are more fuel-efficient. Based on estimates from the Malaysian Road Safety Research Institute, private vehicles in Malaysia average about 28,000 kilometres annually. Looking at the country’s top-selling models in 2025—Perodua Bezza, Axia, Myvi, Alza, and Proton Saga—the firm estimates yearly fuel consumption to range between 1,100 and 1,500 litres. Even when accounting for higher usage, CIMB Securities said the revised BUDI95 quota still provides sufficient capacity for most drivers. Prime Minister Datuk Seri Anwar Ibrahim recently announced that the monthly individual limit for BUDI95 fuel purchases will be temporarily reduced from 300 litres to 200 litres starting April 1, citing ongoing geopolitical tensions in West Asia. He added that the adjustment is expected to have minimal impact on the public, as average monthly fuel consumption is حوالي 100 litres, with nearly 90 percent of consumers using less than 200 litres per month.

KUALA LUMPUR — Malaysia’s transition towards electric vehicles (EVs) is likely to gain momentum rising global crude oil prices, particularly among buyers in the premium internal combustion engine (ICE) segment, according to CIMB Securities Sdn Bhd. In a research note released today, the firm projected that EV adoption across the country will accelerate in 2026, […]