Total auction items in October reached a new low this year due to the auction price has been dropping continuously.
However, this month’s auction price adjusts slightly better than the previous month.
The buying power from both international and local bidders reflects the overall economy is slowly recovering from its lowest point.
We expect the auction items to increase in November due to the Government’s news of economic stimulus.
October’s auction price as compares to Septembers’
Civil work equipment, forklifts and wheel loaders prices showed sign of improvement from being sluggish for the past few months.
Diesel Engines, Factory machinery and construction tools’ prices also showed sign of improvement as a result from the Government measures to support the SMEs credits.
Our company is still confident in the Government measures that are being implemented to improve the overall economy.
This analysis is for JSSR Auction results only which may differ from the general market]
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