UMW Holdings expects to enter three new ASEAN markets in 2014, namely, the Philippines, Laos and Cambodia, to further expand business and increase market share.

President and Group Chief Executive Officer said the company has at present operations in seven countries in the region.

"We are looking at various segments of the business, including lubricants, manufacturing and engineering. The reason we are remaining in ASEAN is because it is closer to home, and familiarity with the market," he told a media briefing.

UMW registered a lower pre-tax profit of MYR 245.6 million (US$ 76.3 million) for the third quarter ended September 30th, 2013, compared to MYR 595.8 million for the same period last year.

Revenue declined to MYR 3.46 billion from MYR 3.96 billion previously.

He said the dip in pre-tax profit was due to lower contributions from the automotive and manufacturing and equipment segments.

"But this was offset by higher contributions from the equipment and oil and gas segments. The lower revenue was mainly contributed by the lower sales in automotive and equipment segments," he added.

Meanwhile, he target sales of the new Toyota Vios to be around 36,000 in 2014, considering the positive demand from customers at present and the upcoming Chinese New Year in February.

"We have to date, received about 16,000 bookings for the model and delivered about 3,000 models. We are optimistic about the Vios and confident that sales will rise further next year," he added.