Posted by yfchong > 2019-09-22 19:47 | Report Abuse

Ok huat is near now...

Posted by ahbah > 2019-09-23 15:54 | Report Abuse

Poh Huat ... Buy

Posted by cherry88 > 2019-09-24 08:47 | Report Abuse

@anti_otb. I think we need to respect the market. It is "proven" that the warrants is trading at 2sen (theoretically) discount against the mother shares, due to its coming 2 sen dividend on 30/10. We should continue take profit (or avoid) warrants if trading within 2 sen discounts against the mother shares. Given its rather high price level, we should take profit anyway. No point to hold long term for warrants. If really want to have position in warrants, then wait to buy after 30/10. Because the share price will "adjust" 2 sen downward on 30/10.
Again, BUY on rumour and SELL on fact still prevail in the market.

Posted by cherry88 > 2019-09-24 10:39 | Report Abuse

Wah...Affin maintain its target price at RM1.48 while TA upgrade to RM2.06. why so much difference ? Let's take average of RM1.77 with our target (revise downward from RM2)

Posted by lloydlim > 2019-09-24 13:41 | Report Abuse

Affin shall set target price at 1.38

Posted by ahbah > 2019-09-24 15:18 | Report Abuse

Poh Huat ... a darling here but a nobody's child today, down 3 sen now.

Posted by Fabien "The Efficient Capital Allocater" > 2019-09-24 16:22 | Report Abuse

Posted by cherry88 > Sep 24, 2019 10:39 AM | Report Abuse

Wah...Affin maintain its target price at RM1.48 while TA upgrade to RM2.06. why so much difference ? Let's take average of RM1.77 with our target (revise downward from RM2)


What you should focus from their reports is their earnings forecast.

FY2021
Affin 23.7sen
TA 22.7sen
AmInvest 22sen

FY2020
Affin 21.8sen
TA 20.5sen

The forecasts are fairly similar. what differs in their target price is the choice of PE multiple, which is driven by market sentiment.

as highlighted by AmInvest, very likely a favourable bias towards market perception for furniture stocks given the positive structural change i.e. trade diversion from the trade war benefiting furniture companies, particularly PoHuat.

do their valuations deserve a 7x, 8x or 10x? is anyone guess. but what is certain positive catalysts is in place. their earnings for FY2019 would be significantly better.

Management sounds positive too.
"The protracted trade war has resulted in the shift in the global supply chain and bought about some positive surprises to several countries in the South East Asia region. For the global furniture trade, Vietnam is expected to benefit the most, with furniture exports increasing by 30% this year, followed by Malaysia as orders shift to
these South East Asia exporters. There are now clear indications of permanent structural changes in the supply chain as more and more manufacturers relocate out of China to this region.

As part of the global supply chain, we have registered increased orders for both our Malaysian and Vietnamese operations. We have adapted our production activities to accommodate a wider range of products for our US customers. We are beginning to see improved operational results, particularly from Vietnam where we have
enjoyed smoother production runs following the adjustment period."

net cash of 43sen, valuation is dirt cheap considering current PE is only 6-7x.

Posted by Fabien "The Efficient Capital Allocater" > 2019-09-24 16:28 | Report Abuse

@cherry88

i believe PoHuat has the potential to increase their dividend payout. over the last 2 years, they have spent a substantial amount of capex. moving forward, capex is lower hence higher FCF supporting higher dividend. look at latest quarter, their FCF has increased substantially, amount to 8% cash yield.

Posted by Davidl > 2019-09-25 14:26 | Report Abuse

Market sentiment turns bad

Posted by ahbah > 2019-09-25 17:20 | Report Abuse

FURNITURE from China to the US is on the long list of goods that have been slapped with tariffs by the US Commerce Department since a year ago. The tariffs have increased from 10% in September 2018 to 25% in June 2019. Another round of increase to 30% is expected in December, should there be no change of heart by the US president.

With no resolution between the two economic superpowers expected to happen anytime soon, there are views that Malaysian furniture makers are emerging as big beneficiaries of a trade diversion as a result of the trade war.

Posted by ahbah > 2019-09-26 09:21 | Report Abuse

Malaysian furniture makers ... market darlings soon ?

Posted by cherry88 > 2019-09-26 11:06 | Report Abuse

Given the recent rather weakening of Ringgit (at RM/USD at 4.19 level compare to 4.15 level previously) + trade war (trade diversion), furniture sector should be in good position. What is fair value is multi-million question. On average it is at PE of 7x to 10x. Should Poh Huat continue to pay dividend (like LiiHen and Homeritz), Conservatively, it should valued at RM1.68 (based on PE of 7x at EPS of 24sen).
Technically, most selling (or profit taking) are almost over, witnessed but its rather low valoum for the last 2 days. whatever buying now is for longer term trade now. To me, it is time to load up or buy now at RM1.53.

Posted by Fabien "The Efficient Capital Allocater" > 2019-09-26 14:52 | Report Abuse

in my opinion, PE 7x is unreasonable. strip of 43sen net cash, we are talking about PE of 3-4x.

not like the company is destroyer of value. top and bottom line growth. strong balance sheet. healthy free cash flows. ROE >10%.

Posted by Fabien "The Efficient Capital Allocater" > 2019-09-26 14:55 | Report Abuse

John Neff and Peter Lynch would have endorse Poh Huat!

Posted by cherry88 > 2019-09-26 17:02 | Report Abuse

@Fabien, what's your value on PH ?

Posted by ahbah > 2019-09-26 21:27 | Report Abuse

PH's tp = Rm1.48 by Ah Fin Research. Silly research done by Ah Fin ?

Posted by ahbah > 2019-09-30 22:47 | Report Abuse

Poh Huat .... a hopeless counter lah.

Posted by ahbah > 2019-10-01 09:27 | Report Abuse

Stock Name: POHUAT (7088)
Entry: Buy above RM1.54
Target: RM1.60 (3.9%), RM1.64 (6.5%)
Stop: RM1.51 (-1.9%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

Posted by Cf81 > 2019-10-01 10:44 | Report Abuse

Jaycorp more power...

Posted by acs4339268 > 2019-10-01 11:41 | Report Abuse

If can break up 1. 60, po huat can fly high

Posted by Davidl > 2019-10-02 11:04 | Report Abuse

Time to accumulate!

Posted by skl_81 > 2019-10-02 14:40 | Report Abuse

What happen this stock price can't up?
Low PE
High net cash
High products demand
High currency US vs MYR
High dividends
High ROE

Posted by lcng123 > 2019-10-02 15:15 | Report Abuse

Low vol

Posted by ahbah > 2019-10-02 15:18 | Report Abuse

All players already given up hope on Poh Huat ?

Posted by lcng123 > 2019-10-02 16:54 | Report Abuse

Investors worry the China furniture players shift the factories to Vietnam and compete with Pohuat Vietnam factory.

Posted by lloydlim > 2019-10-02 18:04 | Report Abuse

It will shoot up after market makers taken profit from tech stocks rally recently.

Posted by skyea > 2019-10-03 15:03 | Report Abuse

director is selling woh

Posted by Cf81 > 2019-10-03 15:40 | Report Abuse

Where?

Posted by Fabien "The Efficient Capital Allocater" > 2019-10-04 13:20 | Report Abuse

assuming mean PE of 8x on lowest end earnings estimates 22sen = 1.76
plus net cash of 34sen, you should be looking at least 2.10

Posted by yfchong > 2019-10-05 11:04 | Report Abuse

Special 1cts.

Posted by cherry88 > 2019-10-05 11:32 | Report Abuse

Why they don't declare 3 sen directly at their recent results announcement ? So, we can expect 2 sen in Nov and 1 sen in Jan. Anyway, it is a good news. and we can expect it will declared at least full 8 sen per year from now, given their results could be much better than last year.

A caution to warrants holders - it is "proven" that the warrants price will always trading in par or at some discount against mother shares. Because warrants holders will not entitle the dividend (now is 3 sen). Market has participated on the discount and will always trade 3 sen discount against the mother shares. Should switch to mother shares if possible, unless its discount is more than 3 sen.
Mother shares will adjust by 2 sen on 30/10 and 1 sen on 13/12 due to the ex-date of the dividend.

Posted by shareinvestor88 > 2019-10-06 13:06 | Report Abuse

SELL TP 50c

Posted by yfchong > 2019-10-09 12:56 | Report Abuse

Uncle Koon holds po huat...?

Posted by Davidl > 2019-10-11 13:00 | Report Abuse

首半年总额近50亿 家具出口同比增8.7%, 下半年有望达70亿

Posted by skyea > 2019-10-11 18:42 | Report Abuse

I have studied the details of Thong Guan, Guan Chong, Lii Hen, Poh Huat, PIE Industries and Kronology. They all complied with my golden rule for share selection which is that the company must report 2 consecutive quarters of increasing profit and the projected PE must be less than 10. Unfortunately, they are so illiquid and the daily volume traded for each counter is very small. For illustration just look at the current trading at 11.00 am. Thong Guan 69 lots traded, Guan Chong 112 lots, Lii Hen 34 lots and Poh Huat 67 lots. In fact, I have bought almost all the shares as mentioned.

https://klse.i3investor.com/blogs/koonyewyinblog/229048.jsp

Posted by yfchong > 2019-10-13 10:06 | Report Abuse

Po huat......uncke not intetested

Posted by chia88 > 2019-10-13 11:29 | Report Abuse

A few weeks ago, I bought 300,000 Poh Huat shares within 2 hours because many shareholders are waiting for buyers. It took me 5 trading days to sell them at lower prices than my cost. You may like to test this for yourself.

Posted by ahbah > 2019-10-13 11:36 | Report Abuse

Poh Huat is far too small for an dinosaur like kyy to get out lah after having a good meal on Poh Huat.

Posted by shpg22 > 2019-10-13 11:37 | Report Abuse

The golden rule of 2 consecutive quarter of increasing profit will not work for most stocks. If it is that simple, cow also can be rich. Only selective stock that KYY want to goreng will comply to this rule.

Posted by Davidl > 2019-10-13 15:10 | Report Abuse

His statement is misleading investors

Posted by skyea > 2019-10-13 15:47 | Report Abuse

Ya just saw his latest post clarifying. Well at least now we know qualified stock is pohuat. When pohuat become hot stock n volume comes....his last criteria is met...then only he help us push? Haha

Posted by skyea > 2019-10-13 15:48 | Report Abuse

Eitherway if its a good stock, n he cant buy it but we ikanbilis can...i dont see why we shd shun it.

Posted by skyea > 2019-10-13 15:49 | Report Abuse

Dont forget he bought liihen n latitude b4. Those were thinly traded b4. So, never say never...

Posted by ahbah > 2019-10-13 16:04 | Report Abuse

Poh Huat ... a buy for ikan bilis only, not for dinosaur like kyy

Posted by skyea > 2019-10-14 02:08 | Report Abuse

come to think of it, if company meet profit growth criteria, and kyy decides not to buy bcs of liquidity. thats totally up to him. but in bursa, there are so many more large investors who are just as rich, one or 2 of these decide to nibble a bit already the share price will increase. so we dont really need kyy lah. plenty of other sharks in the sea.

Posted by yfchong > 2019-10-15 09:47 | Report Abuse

Meat to others....

Posted by tftey > 2019-10-17 11:05 | Report Abuse

Good value at current price. KYY may start collecting slowly now. Who knows?

Posted by Cf81 > 2019-10-18 07:26 | Report Abuse

Woah...insider news

Posted by Davidl > 2019-10-18 11:41 | Report Abuse

Not insider news, is mentioned at de last quarter report.

Posted by Cf81 > 2019-10-18 14:48 | Report Abuse

Well the phrasing of the statement doesn't indicate that...oh well...