Highlights

KL Trader Investment Research Articles

Author: kltrader   |   Latest post: Fri, 4 Dec 2020, 12:16 PM

 

Tien Wah Press Holdings Bhd- 2Q20 – Below Expectation, Revenue Downtrend Continues

Author:   |    Publish date:


2Q20 below expectation, revenue down, barely breakeven

TWPH’s posted another weak quarter, revenue lower at RM73.5 (yoy:-20.8%) and PATMI of RM0.2m (yoy:-82.6%). Six (6) months cumulative results, revenue and PATMI of RM157.5m and RM2.3m accounted for 40.0% and 28.3% of our forecast respectively.

The lower revenue was due to reduction in sales under a major customer’s contract while margin improve from Indonesian operation from the revised pricing, PBT lower in line with lower revenue.

Management commented the adverse effect of Covid-19 on business shows no signs of abating in the next six months and bound for further cost saving measures and restructuring.

Recovery 2020 hampered by Covid-19 outbreak

Management’s effort to turnaround the Group appears to be hampered by Covid-19 which is still largely uncertain and remain a risk. Given the uncertainties, challenging outlook and low earnings visibility, we maintain sell recommendation with lower TP at RM 0.84 pegged at P/B of 0.4x of FY20F NTA for TWPH.

Source: Mercury Research - 25 Aug 2020

Share this
Labels: TIENWAH

Related Stocks

Chart Stock Name Last Change Volume 
TIENWAH 0.92 -0.03 (3.16%) 2,800 

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View Trading Signals and run Live Backtest
MQ Affiliate
Earn rewards with MQ Affiliate Program
 
 

395  610  596  818 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 YONGTAI 0.355+0.06 
 MTRONIC 0.14+0.02 
 HWGB 0.96+0.115 
 MTRONIC-WA 0.09+0.015 
 SAPNRG 0.125+0.005 
 PHB 0.035+0.005 
 EAH 0.03-0.005 
 INIX 0.345+0.08 
 KNM 0.225+0.015 
 KANGER 0.1750.00 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!

TOP ARTICLES

1. Vivocom’s V-Shape Recovery still intact, and a sharp rally upwards to RM1.22/RM1.48/RM2.20 can take off anytime See Jovin
2. Vivocom’s Steady and Calm Rally to RM1.12 Today. Will It Surge to Break RM1.22 Soon? See Jovin
3. 商业高峰(PUNCAK,6807)股价低于产值 。。。。 jjjmoney
4. Shipping out VACCINE timely? Forwarders see their cargo bumped as vaccine shipments take off. gloveharicut
5. AN UNDISCOVERED GEM UPDATE: NEW HOT HOT SELLING PRODUCT FLYING OFF THE SHELVES !! Chongkh888
6. TOPGLOV hints HR ministry’s action does not match stated stand gloveharicut
7. CIMB Retain Add on TOPGLOV; awaiting further updates on Act 446 gloveharicut
8. I SEE GREAT DANGER FOR THOSE WHO BLINDLY CHASED VACCINE STOCKS WILL EVENTUALLY HIT A WALL, Calvin Tan Research THE INVESTMENT APPROACH OF CALVIN TAN
PARTNERS & BROKERS