Phillip Capital Management Sdn Bhd chief strategist Phua Lee Kerk told theedgemarkets.com that the correction in the tech-related counters today was due to the fall in US technology shares, and also investors switching out from technology stocks to recovery plays such as consumer and services related sectors, as the economy recovery gained momentum.
Work-from-home boom is a bust for big office furniture makers
Major corporations such as Google, Microsoft and Facebook have adopted work-from-home (WFH) policies to help contain the spread of the virus. Some have even gone to the extent of providing employees with one-off cash allowances to purchase home office furniture. Also, the cash handouts as part of the stimulus from the US government are reported to have spurred consumer spending on items such as home furnishing. This bodes well for furniture companies operating out of Muar, Johor, deemed the “heartland” of the local industry.
Public Invest Research expects the growth in demand for Malaysian furniture to resume once the global economy recovers and returns to normal in 2021, with potential earnings growth of 37% and 20% in FY21 and FY22 respectively.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
dompeilee
11,888 posts
Posted by dompeilee > 2021-01-08 17:27 | Report Abuse
dompeilee Bought SYF @ 23.5c just now.
07/09/2020 4:35 PM
SOLD all my remaining SYF @ 35c