Posted by Fabien "The Efficient Capital Allocater" > 2019-09-11 11:29 | Report Abuse

Based on our estimates, key Malaysian furniture companies now trade at 7–8x their forward earnings, which is rather consistent with their average historical forward P/Es. Given the positive structural change driven by the trade diversion from the US-China trade war, we believe that their valuations should be re-rated 8–10x higher (Exhibit 9).

Posted by cherry88 > 2019-09-11 14:06 | Report Abuse

https://www.thestar.com.my/business/business-news/2019/09/11/furniture-makers-benefiting-from-trade-diversion-aminvest-research-says

Posted by Fabien "The Efficient Capital Allocater" > 2019-09-11 16:55 | Report Abuse

22sen is achievable. i believe Pohuat is able to pay out 8 sen dividend, similar to 2 years ago.

at 10x PE which is not excessive given its net cash position and growth rate, we should be looking at 2.20

Posted by lloydlim > 2019-09-11 20:09 | Report Abuse

Time to rebound!

Posted by tftey > 2019-09-12 10:38 | Report Abuse

Trade war and weak Ringgit would bring benefits to Pohuat. Similar result like Magni is highly possible,

Posted by lcng123 > 2019-09-12 17:23 | Report Abuse

looking forward excellent result

Posted by cherry88 > 2019-09-13 09:12 | Report Abuse

https://www.klsescreener.com/v2/news/view/578216

Posted by cherry88 > 2019-09-13 09:12 | Report Abuse

Target : RM1.88. Buy now before too late

Posted by acs4339268 > 2019-09-13 19:11 | Report Abuse

Wow. 1.50 already

Posted by LiimInvest > 2019-09-14 08:54 | Report Abuse

Huat huat together. Cheers.

Posted by LiimInvest > 2019-09-14 10:20 | Report Abuse

Netcash position of RM76M as 2QFY19 & hope good dividend.

Posted by yfchong > 2019-09-14 12:03 | Report Abuse

Quarter results must be chun chun

Posted by cheoky > 2019-09-14 16:09 | Report Abuse

ah fatt gor ah... u perform a bit la. hold until white hair out de

Posted by Davidl > 2019-09-16 15:08 | Report Abuse

https://klse.i3investor.com/blogs/kianweiaritcles/225011.jsp

Posted by cherry88 > 2019-09-18 08:50 | Report Abuse

All technical signal are showing bullish signal. When it combine with fundamental strength, it will move toward RM1.88 as targeted by TA Research recently. Should release results next week.

Posted by lcng123 > 2019-09-18 09:14 | Report Abuse

Price up in advance at pre-release of quarterly result

Posted by Davidl > 2019-09-18 13:59 | Report Abuse

https://klse.i3investor.com/blogs/sinchew_company_story/225416.jsp

Posted by cherry88 > 2019-09-18 15:43 | Report Abuse

Once break RM1.54...will start fly. Buyers and seller are still fighting now. Alternatively, buy Poh Huat-WB. It is trading at discount. Should trade at premium by now given bullish sentiment in furniture. Buy now before too late.

Posted by BeAmillionaire > 2019-09-18 16:32 | Report Abuse

Hi friend...the traded volume was too small daily...hard to fly

Posted by cherry88 > 2019-09-18 16:52 | Report Abuse

It is much easier to fly given small volume. As mentioned, the syndicates have "nothing to buy" but export furniture stocks.

Posted by cherry88 > 2019-09-18 17:02 | Report Abuse

I have finished with my Ah Huat Coffee with CX5. Let's huat again here before I holidaying during Xmas.

Posted by cooldownguy86 > 2019-09-18 21:16 | Report Abuse

Walao never give chance to buy. WB also quietly went up

Posted by Cf81 > 2019-09-18 22:33 | Report Abuse

Hoho

Posted by Davidl > 2019-09-19 00:43 | Report Abuse

Time to load more!

Posted by lcng123 > 2019-09-19 09:32 | Report Abuse

Looks like Pohuat going to post a excellent quarterly result

Posted by lloydlim > 2019-09-19 16:33 | Report Abuse

Furniture theme is back!

Posted by LiimInvest > 2019-09-19 21:55 | Report Abuse

Add oil

Posted by cherry88 > 2019-09-20 08:50 | Report Abuse

I apologise to my comments on 18/9 where I urge you guys to buy into warrants. I just realize that the warrants is expiring Oct next year which do not deserve any premium. It is "fair" to trade par with its mother share. We should not chase after the warrants, and should focus on the mother shares. Furthermore, given TA research report where Poh Huat will declare 8 sen dividend annually, the warrants should actually trade at a discount to mother now as warrants holders are not entitled the dividends. Guys and gals, take note on this point if you want buy into warrants. We should buy the warrants if there are 4 to 8 sen discount against the mother share. In fact we should SELL the warrants now and buy into mother share.
Given current bearish market sentiments, dividend / cash is king now. Poh Huat is sitting with around RM90mil cash (or 40 sen per share), if they did not declare dividend to shareholders....we may forget it. It is like another Genting where sitting with cash and stingy to shareholders.

Posted by lcng123 > 2019-09-20 13:12 | Report Abuse

@Cherry88, my opinion is since WB still got 13 months to go and if you are confident with mother share, not harm to buy WB at current price because any upwards of price in mother share will follow by WB. If not, WB should has -ve premium and it's worth to exercise WB to mother share. Like current stage, mother price 1.57 and WB 0.55, with exercise price 1.00, the premium is -2sen .
Once you convert, you gain 2sen.

Posted by lloydlim > 2019-09-20 14:08 | Report Abuse

Time to accumulate!

Posted by cherry88 > 2019-09-20 15:21 | Report Abuse

Theatrically correct LCNg123. Practically, it may very troublesome and after taking commission and time into consideration. Thanks.

Posted by cherry88 > 2019-09-20 17:12 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6287585

Posted by anti_otb > 2019-09-20 17:34 | Report Abuse

Good Results, cheers!

Posted by yfchong > 2019-09-20 19:49 | Report Abuse

Yum seng

Posted by Davidl > 2019-09-20 20:06 | Report Abuse

Cheers! Better than my expectation! Welldone Pohuat

Posted by cheoky > 2019-09-20 20:15 | Report Abuse

Ah fatt gor. Royal flush. A chocolate for you.

Posted by OOMMGG > 2019-09-20 20:49 | Report Abuse

https://www.theedgemarkets.com/article/poh-huat-3q-earnings-22-furniture-orders-shift-southeast-asia-exporters-amid-trade-war

Posted by Fabien "The Efficient Capital Allocater" > 2019-09-20 21:17 | Report Abuse

historically, Q4 is their strongest earnings. even a modest 8 sen would resulted in full year EPS of 24sen above my expectation of 22sen.

Posted by Musangkingfarmer > 2019-09-21 09:09 | Report Abuse

Biggest profit for third quarter. Cheers!

Posted by cherry88 > 2019-09-21 10:45 | Report Abuse

I believed most of you guys have read its latest results, I am not going to repeat here. In short, its cumulative EPS has reached 16.3sen. Let's assume this coming 4th quarter will perform the same as per 4th quarter of last year (at EPS of 9.5 sen). We can expect its full year EPS to record 25.8sen. Give "discount" a bit, to 24 sen lah as per @Fabien. Even at low PE valuation of 7x, we should expect price to reach RM1.68. Given recent trade war benefit, both AM and TA research has revised its PE target to 10x. Again, we "discount" a bit to 9x lah. We should expect a target price of RM2.16. Aiyaa....discount some more lah...target price to reach RM2.00 or another 27% growth toward Xmas (where Poh Huat will announce its final quarter results then). I don't see any reason not to long with this stock, given its net cash position of RM93 mil or 42sen cash per share. the only "problem" is this company a bit stingy to reward shareholders (payout at 25%) as compare to LiiHen and Homeritz (around 40~50%).

Given its coming 2 sen dividend, it is not advisable to buy into its warrants, and the warrants should consistently trade 2 to 3 sen discount against its mother given the fact that warrants holders will not entitle the dividend and the warrants is expiring Oct next year. Don't forget that the mother share price will adjust downward by the dividend amount after 30/10 (ex-date).

Good Luck !

Posted by cherry88 > 2019-09-21 11:20 | Report Abuse

@Musangking Sorry. My calculation mistake. Have deleted the para. I should not compare PH with Homeritz WB

Posted by lcng123 > 2019-09-21 11:31 | Report Abuse

My point of view is very simple, if you confident with Pohuat mother share, it's worth to buy WB. Otherwise keep away from mother and WB

Posted by Dericlock > 2019-09-21 11:47 | Report Abuse

Daughter have 1 year before the dateline, and that money difference between mother and daughter can be used to invest somewhere else. So with time value of money, it actually can earning somewhere else for higher rate of return.
And please dont forgot, daughter can always convert to mother to entitled for dividend.
Lastly, the leverage effect on daughter is also better, paying 1/3 of the price and owning a part of pohuat.

So dont really see why daughter need to be discounted by few cents.
It is up to each's risk appetite and confidence level on pohuat for long term

Posted by Musangkingfarmer > 2019-09-21 11:50 | Report Abuse

@cherry88, actually this is my mistake, I don't even know Homeritz-WB exist. And I want to change my comment but ends up remove it.

Posted by cherry88 > 2019-09-21 11:53 | Report Abuse

@ Musangking. Don't worry. Sharing is learning

Posted by anti_otb > 2019-09-21 11:56 | Report Abuse

buy both mother and son la. enjoy dividen and capital gain from mother, and enjoy gear of 3x from son

Posted by cherry88 > 2019-09-21 12:12 | Report Abuse

@anti_otb. Good idea. Why I never think of it ? Don't argue. Haha. Anyway, my exposure to furniture stocks (Poh Huat, LiiHen, Homeritz) could last toward end of Dec. Personally (just gut feeling, no proper justification), market may be in a perfect storm next year. Hold more cash....

Posted by Davidl > 2019-09-21 15:55 | Report Abuse

Time to load more!

Posted by WhiteWolf > 2019-09-22 08:38 | Report Abuse

Super dangerous when one has to make investment decisions based on the whims and fancies of Donald Trump.

If he decides to continue on with trade war, then it might actually benefit ASEAN countries. But what if tomorrow they come to an agreement and he pulls back the tariffs? Headache woooo investing like this..

Posted by Davidl > 2019-09-22 13:45 | Report Abuse

Believe it or not, trade war is a never ending story b4 2021