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KLSE: WTHORSE       WHITE HORSE BHD
Last Price Avg Target Price   Upside/Downside Price Call
1.40 1.52     +0.12 (8.57%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
08/02/2019 1.47 1.33 -0.14 (9.52%) SELL MAYBANK Price Target News
23/11/2018 1.60 1.44 -0.16 (10.00%) SELL MAYBANK Price Target News
23/11/2018 1.60 1.50 -0.10 (6.25%) SELL KENANGA Price Target News
24/08/2018 1.75 1.82 +0.07 (4.00%) HOLD MAYBANK Price Target News


Price Target Research Article/News (past 6 months)
08/02/2019  MAYBANK White Horse - No Recovery Yet
23/11/2018  MAYBANK White Horse - a Cracked Tile
23/11/2018  KENANGA White Horse Berhad - 9M18 Missed Expectations
24/08/2018  MAYBANK White Horse - 2Q18 Results Disappointed



  2 people like this.
 
AyamTua congrats to those whom rides on white horse..
tunggang kuda putih, sampai putih mata

kikikikiki
29/10/2015 22:53
calvintaneng AND ONE MORE DEFENSIVE FACTOR FOR WHITE HORSE.

A BUILT IN MARGIN OF SAFETY IN WHITE HORSE‘ HIGHLY VALUABLE STRATEGIC ASSETS.

ITS LARGE SPRAWLING FACTORIES IN TMN AIR BIRU ARE WORTH FAR MORE IN VALUE NOW DUE TO ISKANDAR PROPERTY BOOM.

THESE FACTORIES ARE BUILT ON PRIME LANDS OF TREMENDOUS VALUE.

S CLOSE TO PENGERANG AND PROPOSED THIRD BRIDGE TO EASTERN ISKANDAR WHITE HORSE PRECIOUS MAIN ROAD FRONTAGE LANDS WILL ALSO SKYROCKET IN PRICES.
29/10/2015 22:58
ahmoi782 Try harder ha ha he he. How much you try also. Ppl alert already. They will wait.
30/10/2015 10:39
ahmoi782 Wait for Christmas Sale. Cheaper price coming soon.
30/10/2015 10:43
calvintaneng Last time Calvin Tan recommended

JAKS at 39 cents. Then Jaks Jacked Up. Then jumped over Rm1.00

Also Super at Rm1.25. SUPER WENT INTO SUPERSONIC POWER - Up 200% AND TAKEN PRIVATE AT RM3.80

Then Calvin went to ICapbiz Forum and told TTB and all zombie investors to buy AJIYA at Rm2.05

Ah Jumping YA!!!

AJIYA DOUBLED TO RM4.20 (UP 100% IN 10 MONTHS)

Check them out whether true or not.


YIPPEE!!!
30/10/2015 14:05
30/10/2015 15:27
guozhenyao From what had been gathered by Calvin Tan,Whitehorse could hit more rm4.00 easily !you will be seeing us laughing all the way to the bank,mind you ahmoi782!
30/10/2015 15:30
guozhenyao Buy now b4 it's too late!
30/10/2015 15:31
ahmoi782 Go ahead guys! i'll wait for Christmas Sale to grab cheaper. More ppl need money. Sale coming soon! LAI ! LAI !
30/10/2015 15:42
ahmoi782 Try harder !!
30/10/2015 15:44
calvintaneng No need to try.

At Rm4.50 for 1 by 2 feet tiles White Horse is the clear winner
03/11/2015 20:18
calvintaneng Latest News Update About White Horse,

According to Sales Staff of Tiles Distributors & Retailers in Johor

1) White Horse is a leading Brand in Johor - and among Top Performer in the Iskandar Region.

2) Why Top Builders in Iskandar chose White Horse Tiles more than those from other parts of Malaysia or imported tiles from China?
Answer: Because With Its Sprawling Factories Nearby in Tmn Air Biru and Pasir Gudang it is very convenient to get more stocks faster & cheaper than from other states.

3) White Horse Also Expanded Its Production to Vietnam like Pohuat did with furniture.
And White Horse is now even importing Its Own Tiles from White Horse (Vietnam)

4) LATEST NEWS ABOUT TILES IMPORTED
DUE TO THE DEPRECIATION OF RINGGIT AGAINST CHINESE YUAN & US DOLLAR THERE WILL BE A 10% INCREASE IN PRICE FOR ALL IMPORTED TILES SOON!!

THIS WILL FURTHER BOOST WHITE HORSE SALES!

Another Company that should also benefit is YILAI.

How?

Go to Yilai Forum site to see updates on Yilai

Regards,

Calvin Tan
Jurong West,
Singapore
14/11/2015 17:23
ahmoi782 Hold on boys.. Christmas sale coming soon. USD/RM struggling.
16/11/2015 14:16
ahmoi782 TP 2.15 ~ RM 2.20
16/11/2015 14:20
ahmoi782 Don't panic .hold on now.. grab more later !
16/11/2015 14:21
LACHARSINGH haha boost sales??..... negative EPS bro....huge losses!!
24/11/2015 19:31
Vizhai What happen in to the latest report? Huge loss..
24/11/2015 19:44
LACHARSINGH kimhin will follow white Horse soon....
24/11/2015 19:45
birkincollector calvintaneng?
24/11/2015 19:55
iiinvestsmart Our dear Calvin never cease to amaze us with "story" plucked out of the air. Calvin has set an insurmountable height for bedtime stories. :D
24/11/2015 20:16
calvintaneng A Reality Check on White Horse.

This quarter result WhiteHorse recorded a lower revenue.
However its gross profit increased to Rm51 millions from Rm50 millions.

So why there is a loss?

Is it solely due to forex losses?

No.

Then what?

If you check carefully there is over Rm40 millions used for Admin & Expenses.

What are these expenses?

Buying Assets over Rm14 millions. Sept.2014 was a purchase of Rm37 milllion assets.
Buying New Machinery to meet ever increasing demand for better quality tiles
Expansion into setting up White Horse Factories in Vietnam.

As you can see CASH POSITION Has Even Increased &

Company Declares a Rm50 Tax Free Dividend this Quarter.

So Actually If You Read Carefully White Horse Did Pretty Well!

One More Thing
The Prospects of WhiteHorse in Iskandar & Whitehorse (Vietnam) are getting brighter due to TPP. Vietnam will benefit by more than 11 % while Malaysia more than 5%

And with FDI For ISKANDAR Almost Reaching Rm30 Billlions for year 2015 there will be a mushrooming of New Factories Requiring More New Tiles from White Horse.

Plus Many Condos Launched in Year 2012, 2013 Will be completed soon in year 2016,2017 & 2018. This means that Lots of Tiles Will Be Needed at their final stage of Completion.

Then Rm170 Billions Project in Pengerang's RAPID Plus Rm6 Billions Microsoft Investment in Sedenak augurs well For White Horse.

So Take a Macro Overall View of the Great Prospect of this Great Company now selling at undemanding value.

Those who missed AJIYA at Rm2.05 will have the opportunity to buy on weakness.

Why?

Because of iiinvestsmart who only has tunnel vision and Cannot SEE the Overall picture. Therefore they will sell instead of buy. No wonder the people of Investlah are led astray by one who is so myopic in vision.
24/11/2015 22:29
calvintaneng One more thing in case you overlooked.

Seacera Tiles turned in a great set of result even though its results are mediocre.

How?

Seacera Gained by Revaluation of its assets & Even booked them as profits.

Its NTA JUMPED FROM Rm1.10 to Over Rm2.70 As A Result.

Take Just One White Horse Factory in Jalan Gangsa, Pasir Gudang.

1.5 million sq ft Book Value since 1990 was Rm38 millions

About Rm25 psf?

How Much Is A FULLY BUILT UP FACTORY WORTH PSF?

So if White Horse follows the footstep of Seacera & revalue its assets & then book them as profits HOW MUCH DO YOU THING WHITE HORSE PRIME ASSETS WILL RISE UP TO?
24/11/2015 22:54
tksw the horse jatuh dalam longkang liao.
25/11/2015 09:35
ahmoi782 Ha ha dropped even lower than my forecast . hi hi 2.11 lowest
25/11/2015 17:08
ahmoi782 So as mentioned, Uncle(s) tried to bull shit to clear their stock for Christmas shopping. ha ha
25/11/2015 17:09
ahmoi782 Already told you guys there will be Christmas discount sale. Those love this stock is time!
25/11/2015 17:13
BlackHorse Hahahaaaa, you all kena conned by Singapore Crooks claimed himself as Eagle.
25/11/2015 20:55
ljmeng Post removed. Why?
25/11/2015 20:57
calvintaneng Almost bought more at Rm2.20 but some wise guy blocked me at Rm2.21.

You see, Ben Graham used to tell his sudents about good stocks which he is still buying. But once his students got wind of the "tip" they bought it up even before Ben Graham could built up his position.

See how Johotin's bottom fell off? While Whitehorse is still well supported?

WHITEHORSE HAS STRONG BUILT IN MARGIN OF SAFETY!!

JUST BUY WITH CALVIN ON WEAKNESS!!
25/11/2015 21:00
ahmoi782 Whatever it is let see the performance. If are confident or interested. Now good time to grab low price.
25/11/2015 21:28
ahmoi782 So many tiles distributor @ 3rd Party@ Tringular Sales, nowadays. Current ERP System even can plan demand so advance, HQ in overseas but sales office in Malaysia. Delivery from other country. These ppl also can submit tender as long as they supply according to customer spec regardless the brand "white" or "black" horse. Vendor only concerns about their profit & affordability later to buy the "red color" vehicle with "black horse" logo. Remember we also have cheap supplier from resourceful & cheaper labour country like Thailand& Indonesia.
26/11/2015 08:53
Sapiee Jamel Target Price RM 4.40
26/11/2015 13:06
ahmoi782 Maybe RM4.40 year 2018/2019?
26/11/2015 21:21
calvintaneng Can foreign tiles be sold in Malaysia?

Can China dump tiles like they dump steel?

Yes for steel BUT NOT FOR TILES.

Let Calvin explain while.

Steel, be they long steel or flat steel, is used in construction work. They form beams, foundations, pillars all covered in cement, sand and concrete. So they are lumped as one and not visible to the eyes.

Not for Tiles.

Tiles are laid on the surface of floors and walls. They come in different sizes 6" by 6", 8" by 10", 12' by 12" "12" by 24", "24" by "24" or "32" by "32" specifications.

They also come in many finishings - Rough, Smooth, Glazed or others.

And they come in many, many colours. And also mixed colours.

And also in many designs & patterns.

So there may be a thousand different types of tiles.

What is used in the kitchen may not be suitable in the dining hall or the water closets. On Car porch or drive ways we use another type of tiles that is heavy duty.

Sometimes tiles are in fashion - they sell like hot cakes. For some - they are slow moving stocks - so they are only manufactured by demand.

No demand - the line is discontinued.

Ha! Imagine installing foreign made tiles in the kitchen!

If due to damage (tiles can pop up if you don't use enough cement gum).

And if not available in the local market you either change ALL THE WHOLE KITCHEN FLOORING (very costly). Or take an airplane to China? (Also very costly & time consuming). And there is no guarantee that you will get the same replacement tiles.

So?

So just buy local Whitehorse tiles.

If you are short of any just go to a White Horse Tile Distributor or Retailer. If they don't have stock they will place an order for you.

Delivery might take 3 days to one week.

If you need it urgently?

Then they will give you a letter.

You can go straight to WhiteHorse Factory in Jalan Gangsa, Pasir Gudang and collect it yourself.

So next time be wise!

Just use Malaysian Made Tiles by Whitehorse or Yilai

Do YOU get it?
26/11/2015 21:40
ahmoi782 illogical to use imported construction material ?

Hmmm.. many competitor too especially when big guys in Iskandar Project attend this kinda conference :

http://aseanceramics.com/asean-ceramics-established-as-the-regions-1-ceramic-event/
27/11/2015 11:19
maro As far as I remember, before white horse became as famous as what it is today, the company used to import tiles from China.

Nowadays if you go to their showroom, you can see that there are some imported from China, some from Vietnam and some made in Malaysia.

Within this year I had a few trips to their showroom, and bought tiles for renovation
06/12/2015 22:00
sarahdeaton woa, very detailed explanation from calvin.

my uncle is a contractor for the construction in johor, he read what calvin wrote and he said he is right. the amount of tiles being ordered are overwhelming. the problem is the transportation needed to transport them. tiles are in shortage now. white horse and yilai are struggling to meet demand. contractor 's order are put on queueing line for some specific design of tiles. my uncle also screwed already, need to recommend some other design for customer tiles he ordered for customers like 6 months ago have still not arrived. and those are just normal tiles.

even poorer quality tiles are being snatched up fast. with new development everywhere in johor, materials and transportation fees are gonna shoot up. JPJ are kept busy giving summons to overload trucks carrying materials. the bad thing about all this is: if materials demands are not met fast, some companies are gonna lose lots of money. now the transportation company are planning to increase their fare. contractors are gonna jump up and down like monkeys.

the above are what my uncle told me while i was in johor for holiday. hehehe. and i broke 1 tiles from yilai because i sat on it in my uncle's house. hehehehe. believe it at your own risk.

Experience : Very nice.
Cost: 1 broken tiles @ RM5.50
Food: YUMMY!!!
07/12/2015 08:28
ahmoi782 TP might go down further ~ RM1.90 < RM2.05. So hold on & buy later when stabilised.
22/12/2015 10:56
ahmoi782 Two weeks ago, 1st delivery via sea by huge ship carrying tiles from China arrived at Gelang Patah Port (PTP) for Iskandar project. Guess one big guys already importing tiles cheaper from China.
12/04/2016 13:03
familybusiness Any good news on this stock?
25/07/2016 20:07
FourEyes Gonna rock?
02/08/2016 11:36
FourEyes So silent here???
24/11/2016 14:43
kentooi what happened today spike?
06/06/2017 17:41
junclj what the hell keep pop-up this message?
http://i.imgur.com/drpx6Ne.jpg
09/06/2017 15:34
junclj So many times, 主力吸筹吗?so annoying
http://i.imgur.com/5GSD4Ub.jpg
http://i.imgur.com/SAtIKVY.jpg
09/06/2017 15:36
newbies95y calvin buy call. kc said calvin sincere. buy!
09/07/2017 16:30
hongweigiet88 https://hongweigiet222.wixsite.com/website/single-post/2017/08/06/WTHORSE-5009
06/08/2017 00:17
Stockgod8 Good luck guys, this is owned by Zahid Hamidi! SELL SELL SELL SELL SELL
14/05/2018 22:44
KLCI King Oh, Calvin is here.........

Then this stock is NTA play for him, and not profit driven investment.

Better run now before regret later, follow Calvin is like waiting durian to be dropped from pokok rambutan, may happen but rare.
25/08/2018 02:02
calvintaneng Merry Christmas

Whitehorse still give dividends
25/12/2018 21:34

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