Highlights
KLSE: ELKDESA (5228)       ELK-DESA RESOURCES BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
1.70   0.00 (0.00%)  1.66 - 1.70  95,100
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General Meeting

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Ann. Date Date Time Type Venue View
09-Jul-2019 08-Aug-2019 10:00 AGM Berjaya Times Square Hotel Kuala Lumpur, Bronx VI Ballroom, Level 14 West, No. 1, Jalan Imbi, 55100 Kuala Lumpur. Meeting Detail
09-Jul-2018 09-Aug-2018 10:00 AGM Berjaya Times Square Hotel Kuala Lumpur, Manhattan V Ballroom, Level 14 West, No. 1, Jalan Imbi, 55100 Kuala Lumpur. Meeting Detail
10-Jul-2017 02-Aug-2017 10:00 AGM The Melia Hotel Kuala Lumpur, Alhambra Ballroom, Level M1, No. 16, Jalan Imbi, 55100 Kuala Lumpur. Meeting Detail
02-Jun-2017 22-Jun-2017 10:00 EGM Melia Hotel Kuala Lumpur, Alhambra Ballroom, Level M1, No. 16, Jalan Imbi, 55100 Kuala Lumpur Meeting Detail
27-Jul-2016 26-Aug-2016 10:00 AGM The Melia Hotel Kuala Lumpur, Alhambra Ballroom, Level M1, No. 16, Jalan Imbi, 55100 Kuala Lumpur. Meeting Detail
22-Jul-2015 21-Aug-2015 11:00 EGM The Melia Hotel Kuala Lumpur, Alhambra Ballroom, Level M1, No. 16, Jalan Imbi, 55100 Kuala Lumpur Meeting Detail
22-Jul-2015 21-Aug-2015 09:30 AGM The Melia Hotel Kuala Lumpur, Alhambra Ballroom, Level M1, No. 16, Jalan Imbi, 55100 Kuala Lumpur. Meeting Detail
21-Jul-2014 13-Aug-2014 14:30 AGM The Melia Hotel Kuala Lumpur, Alhambra Ballroom, Level M1, No. 16, Jalan Imbi, 55100 Kuala Lumpur. Meeting Detail
29-Jan-2014 21-Feb-2014 14:30 EGM The Melia Hotel Kuala Lumpur, Alhambra Ballroom, Level M1, No. 16, Jalan Imbi, 55100 Kuala Lumpur Meeting Detail
07-Aug-2013 28-Aug-2013 14:30 AGM The Melia Hotel Kuala Lumpur, Alhambra Ballroom, Level M1, No. 16, Jalan Imbi, 55100 Kuala Lumpur. Remark: (Inserted name of the hotel) Meeting Detail
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crazy127 Buy TGUAN, now 4.50, next yr 8.88
29/03/2017 6:43 AM
wisdomtot so exciting, yet forum is so quiet
08/06/2017 4:00 PM
wisdomtot syiok sendiri... explode soon
14/06/2017 4:44 PM
wei007 These 2 days volume are extremely huge. Please dun explode so soon....I am still collecting.
14/06/2017 5:13 PM
gforce2 http://www.theedgemarkets.com/article/elkdesa-posts-8-drop-1q-net-profit

KUALA LUMPUR (Aug 18): ELK-Desa Resources Bhd reported an 8.1% drop in net profit for its first quarter ended June 30, 2017 (1QFY18) RM5.05 million from RM5.5 million a year earlier.
...
The group’s revenue for the quarter rose 16.2% to RM25.57 million from RM21.99 million in 1QFY17, thanks to higher sales contribution from both business segments.
Revenue for its hire purchase segment grew 15% to 17.64 million, whereas that of the furniture segment rose 20% to RM7.94 million.
ELK-Desa said impairment allowance for its hire purchase segment rose 46% to RM6.45 million, primarily due to higher delinquent accounts and cost of debt recoveries.
...
Similarly, the impairment allowance for its furniture segment jumped by 100% to about RM160,000 due to long outstanding trade receivables.
...

"The board is confident that the group's profit for the financial year ending 31 March 2018 will be better than financial year ended 31 March 2017," it added.

===
Quick Analysis:
The recent rights issue to raise ~RM59m was timed to provide additional funds to grow their hire purchase & furniture businesses. This should hopefully counter the higher impairments to be expected in a slowing domestic economy.
Revenue is up, but profit is down. Overall, it seems like there are more headwinds ahead. Dividend yield is around 4.5% pa, so if you're a yield seeker, some selected REITs might be a better bet.
18/08/2017 7:15 PM
PenguinDad Has right issue completed and right transfer to cds a/c?
06/09/2017 5:17 PM
EVO118 Some big player out there with a huge blocker everytime it gets close to 1.21, as well blocking it from going down below 1.17. This can only happen if they have huge volume. The order gets placed whenever it gets close. It's not there now. Was there yesterday as a buyer before cancelling it, & there before lunch as a seller today but has since pulled the order. Not sure what is going on.
09/11/2017 2:54 PM
EVO118 Someone is making sure the loan stock conversion price of 1.18 is not breached. The big order appears when the price is threaten. Just doesn't understand whoever it is having a road block at 1.21 on a potential 3% profit. Maybe a fake selling order..
09/11/2017 3:46 PM
Choivo Capital This is a good company.

Problem is that use too much equity, so much share issue etc, that really dilute the share base.

This is a financing company, which means you need to leverage up. Other non deposit taking financial institutions leverage up 3-5.5 times. While Elkdesa only has leverage of 0.1 times.

My suggestion, take a loan and give a fat div. Leverage it up to at least 2 times.
16/11/2017 11:33 PM
PenguinDad vinchain.io for second car sales with cryptocurrency!
07/03/2018 10:46 AM
Meng 这公司还真冷门,赚了钱也没人理
17/08/2018 1:47 PM
wei007 唯有继续累积拿股息。。。
18/08/2018 12:05 AM
wei007 Rakuten Trade recommend with target price RM 1.38
31/08/2018 12:41 AM
Kiryu88 rakuten sinkalan got la
01/09/2018 12:25 AM
Meng suddenly got some volume today
09/10/2018 4:04 PM
Meng another quarter with nice results. seems like they are pushing sales now. profits should be higher next year
13/11/2018 6:35 PM
UnicornP https://www.thestar.com.my/metro/metro-news/2018/07/03/prices-for-used-cars-expected-to-remain-low-secondhand-dealers-say-sst-only-applicable-to-manufactur/
17/11/2018 11:45 AM
Meng 2 years new high. can it sustain?
11/01/2019 5:57 PM
foreverchung If drop = buy 99
15/01/2019 10:28 AM
zigua 99?now 132 !
29/01/2019 11:33 PM
tracylim This is a long term counter. It eliminates opportunists and sharks, at least until now... both are not seen or not obvious in the counter. I have great trust for Elkdesa with long term target price 2.00-3.00 says in 3-5 years time if the current growth continues.
31/01/2019 10:49 AM
Meng hi tracy, mind to share why you so confident to the company?
31/01/2019 9:49 PM
RainT this counter is loan to car so the biz prospect is not really good, dont have competitive advantage , need depend on car sales for increase loan etc

also it venture into furniture biz which is also a bad idea
furniture biz is very crowded now with other big players ...this all will not help in ELKDESA profit growth
01/02/2019 11:24 AM
RainT ELKDESA also is in negative operating cash flow which is bad
01/02/2019 11:27 AM
tracylim If this coming announcement good result or at least maintain, then I expect it to go above 1.50, and if all quarters in 2019 good results then above 2.00 is for certain.
10/02/2019 12:28 AM
Meng wow, i didn't expect we have same thought! last agm management set a new direction, i see their are really doing well on that from last quarterly result. i have confidence the company will have good results this year
10/02/2019 9:43 PM
tracylim True. Not too many investors realise the value of ELKDESA, and don't you think that's a good thing? That's the reason why we still can buy in at the current price, and I really feel good accumulating along side with the big boss, if you understand what I mean.. I rather do it now than start accumulating when it is 2.00 3.00..
14/02/2019 9:55 AM
Yi Heng just drop more please, u all know what i mean haha
17/02/2019 9:37 PM
Yi Heng chairman allocate 2000000 shares within 2 months :)
18/02/2019 8:11 PM
tracylim Wow, not bad! Cancellation of treasury shares! This shows that Elkdesa has strong cash flow.. it reduces the total of shares available in the market which is definitely a good thing! Yes!
24/02/2019 3:31 PM
Meng i disagree the action on cancellation of treasury shares. they can make good use from it instead of just cancelled it. it is worth more then RM17m. the company was right issues few times in the past, but why not they just sell the treasury shares to get more fund? if that conflict with the chairman buying share from open market recently, they can look for funds institution or other investor to buy over. now the shares are wasted just to push up the share price slightly. im surely going to address out the issue in agm
25/02/2019 1:12 PM
James Yeo Elk-Desa Resources Bhd has a track record of consistent dividend payouts over last 5 years. Check out other 2 similar stocks at https://klse.i3investor.com/blogs/small_cap_asia/195122.jsp
26/02/2019 11:01 AM
tracylim Well Meng, I guess the boss has his own planning on this. You may voice up your opinion in the AGM, but for me, it's definitely a good sign and I hope they will cancel more share in the future.. anyway for the time being, let's wait and see what's in the boss's head..
08/03/2019 11:22 PM
Meng i personally think that the management want to improve the company reputation and strengthen the confidence of share holders. i have seen them have intention to improve the awareness of the public to the company too. but still i think they can have better use of the treasury share.
11/03/2019 2:14 PM
Meng im happy to see the share price go up, but im more happy to see the net profit go up and the cost go down
11/03/2019 2:17 PM
sleang There are 3 things that the co. can do with treasury shares, 1. re-sell to the market at higher price to gain profit; 2. distribute to shareholders as share dividends; 3. cancel it off. Among the 3, the only option which will reduce the number of shares is #3 as the first 2 options will release the shares back to the market...
11/03/2019 2:29 PM
Meng as a financing institution, funds is important to company. there was a few times company having rights issue to increase the funds. although the treasury is not a big amount as past rights issue, but still worth good amount of money which can help the company business. if they can make use of it, selling to get some funds drive more sells or reduce financing cost, i think that is much better option
11/03/2019 4:51 PM
smissions Rights issue, rights issue, rights issue, cancel shares. Also advertises on Google Ads.
04/04/2019 2:54 PM
tracylim If not mistaken the management already promised no more right issue...
04/04/2019 6:28 PM
sleang another set of fantastic results! well done~!
21/05/2019 6:22 PM
tracylim Really proud of ELK, particularly in the midst of uncertainties. Now we know why the boss kept on buying. Well done!
23/05/2019 7:52 AM
Meng profit can be go higher but drag down by the furniture business. they can maintain a lower impairment on the hire purchase business, i think they should be able to do the same to the furniture business too.
23/05/2019 9:32 AM
Meng by comparing the annually result, the hire purchase business really doing great which revenue and profit before tax increased 16% and 23% from financial year 2018. the company really doing well to improve the loan quality and significant reduce the impairment allowance. total hire purchase receivables grow 23% but the impairment reduced instead, well done. block discounting increase intact with company direction. but there is not perfection, the increase of workforce recently not yet see to have any positive effect to the business yet.

for furniture business, i think after all these years, although see the improvement, but still the profit margin still very low, just passed 2.5% this year, most of the expenses go to cost 60%+ and other expenses 30%+. now the impairment allowance come to a concern level 1.5% from the revenue, this is quite high if compare to the profit margin 2.5%.. hopefully the management will put some effort in the furniture business, improve the dealership, or find other better dealers.

overall the business seems to be positive, wish coming year business can grow more and stable
23/05/2019 5:33 PM
thanaraj ELK- RESOUCES BHD share is a worthwhile investment in terms of its dividend Dy=4.61% and ROE at 8.0% which is better than your bank FD interest rate at 3 to 4 %. The Agm is on 8/8/2019.The annual report for year 2019 will not be mailed to you ( lazy lot these days) unlike other years and you have to contact the company Registrar which is Tricor. Or you can request Tricor (at Bungsar South) by phone to mail to yr home address. A.David
10/07/2019 4:47 PM
EricHoe any special news about this share, last week till now keep on rise, nowI all time high
16/07/2019 11:09 AM
Meng business growing up...
16/07/2019 4:41 PM
tracylim It has been keep on rising since September last year already. Good performance in business, good cash flow, annual report, and the most recent one of course the bond.
16/07/2019 6:27 PM
chwong28 https://www.thestar.com.my/business/business-news/2019/07/16/elkdesa-establishes-rm1bil-mtn-programme/
16/07/2019 11:00 PM
chwong28 Elkdesa, same industry as Aeon Credit and Rcecap, providing Hp loan for used car. Going to issue MTN medium term note of RM100m to increase their business, high capacity for leveraging up
16/07/2019 11:01 PM
chwong28 TP 1.98, could be higher with issuance of MTN, expected revenue and profit growth 20% per year
16/07/2019 11:02 PM


 

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