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Overview
Financial Highlight
Headlines
Business Background Euro Holdings Bhd is a Malaysian based company engaged in the manufacturing and trading of office furniture. The business activity of the firm is functioned through Manufacturing, Property development, and Investment holding segments. The company’s activities primarily include manufacturing and trading of office furniture, Property development of residential properties, and Investment holding operations. It offers products related to office furniture, fabric materials, partitions, steel furniture, chairs, and panels. Geographically the group has business across the region of Malaysia, India, Indonesia, Singapore, Europe, Middle East and in also in other countries of which Malaysian region accounts for the majority of revenue.
  whichone As long as we know you game over. We will roll out another game.... If you are still in game . We will not touch. 22/08/2018 17:53 whichone Buaya is panic....Seeing another BIG buaya..... He knew he is small fly only!! 23/08/2018 09:58 John1234 Every day, it generates so much vol to lure pp in. Result will be out these few days... 24/08/2018 18:19 Spyron_09 such an strong rebound counter for first day? anyone miss out? good luck` 20/09/2018 21:54 Jasper Coo Price will gap up this morning, good luck to all and enjoy the rollercoaster.... hehe 21/09/2018 10:43  butterflyeffect https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=7208 29/11/2018 19:22 commonsense This is a company that has never been able to deliver substantial enough profit to its shareholder for the past 10 years. In FY17 the company posted a net loss of RM3.4mil to its shareholder. In the 9m18 the losses were at RM2mil which is a bit better compared to last FY17. Expect 4Q to still deliver a net loss to investors. Those who think that Euro Holdings can suddenly deliver a substantial enough profit for its shareholder in FY 19 might be having some wishful thinking. I would define a substantial profit to be around RM4mil to give the company a PE of 12x at least. Given the challenging market outlook for both the furniture (due to higher operating cost environment) and property industries, I would think that the best result that the company can achieve is a very small profit of less than RM1mil in FY19. The most likely outcome would still be net profit loss to the shareholders. If you are looking to diversify your portfolio outside of Euro Holdings (due to its weak earnings outlook), I would recommend you to look at MBMR. MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.7x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. The recent announcement of closure and potential disposal of the loss-making alloy wheel manufacturing business alone is expected to boost the company’s profit by an additional RM20mil. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.7x PE. Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analysts is around RM3.50. Good luck. 12/02/2019 14:39  |
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