The US economy continued to show strength during the quarter under review. The number of Americans who applied for unemployment benefits fell to a low of 253,000, matching the second-lowest level of a seven yearold economic expansion that shows no signs of flagging. Meanwhile, sales of previously owned homes rose in June 2016 to another cycle high, fresh evidence of housing market that continues to power through ongoing headwinds. In UK, many economic indicators including consumer confidence report, manufacturing and construction surveys and house price data have turned out stronger than predicted and has confounded some of the worst fears about how the economy would react to the referendum to leave the EU. The European Central Bank has also continued with its accommodative monetary policy to promote recovery in the European zone. All round improvement in economic sentiments and business confidence amongst our customers, coupled with the continued strength of the US Dollars, suggest better purchasing power and sustained demand for the Group’s products. The recent completion and commission of our reconstructed finishing line cum warehouse facilities in Binh Duong, Vietnam has added 20% to the capacity of the Binh Duong plant and more importantly enhanced our manufacturing capabilities and efficiency. Consistent with our efforts to move up the value of its products, the modernised finishing line will enable us to take on higher range products which will contribute more meaningfully to the Group’s bottom-line from FY2017 onwards.
btw, anyone has an idea how to calculate the tax rate of POHUAT? i notice that the tax they are paying in income statement is quite high as compared to previous year, but at the same time, the tax payable amount in balance sheet also reduce. does that mean they are paying more tax to cover the tax payable? or it is just simply a rise in income tax %?
Pohuat Income tax expenses consisted of Malaysian tax 24% and Foreign tax. Check details at annual report notes. 无关应缴税款 tax payable. Tax payable is amount need to pay to tax authorities but not yet. 没有影响 不用看的项目
It submitted claims of RM 15.57million for the fire incident but in total just got back RM 9.6mil, which isimilar to what it lost in the fire. No extra income incurred.
Poh Huat Vietnam received the final insurance compensation of VND12.13 billion on 10 October 2016 and recognised the compensation as "Other Income" in the final quarter ending 31 October 2016. The total fire insurance compensation (Other Income) recognised for the financial year ending 31 October 2016 is VND23.12 billion.
The chart is extremely good, BB open wider today and EMA 14 cross 21. with the good stable fundamental plus Dollars as catalyst.. The next show on furniture stock. Al da best
Ringgit likely to trade in the RM4.15-RM4.30 range
BY S. PUSPADEVI
KUALA LUMPUR: The ringgit is expected to trade between RM4.15 and RM4.30 against the US dollar by year-end, according to an economist and investment strategist.
IQI Group Holdings chief economist/investment strategist Shan Saeed said if China continues to lower the yuan, the ringgit including other currencies such as the rupiah, dong, baht, Philippine peso and Singapore dollar may trade lower.
He noted that market observers and policy makers were now adopting the wait-and-see approach based on China’s monetary policy changes, the looming US presidential elections on Nov 8 and likely interest rate hike by the US Federal Reserve.
“With market forces determining the ringgit rate, the currency will likely be in the long range and might trade between RM4 and RM4.30 in 2017 and this is still fair value. But this will depend on crude oil prices,” Shan told StarBiz.
Despite China’s economic slowdown, the country would still be the driver of the global economy, Shan said, adding that its recent move to lower the reference rate for the yuan was inevitable, as part of the process in revisiting its economic strategy to keep growth momentum. “The yuan will continue to stay low and we will not be surprised if it touches between 6.90 yuan and seven yuan against the US dollar in the first quarter of next year.
“We foresee a few changes in China’s monetary policy structure by the first quarter,” said Shan, adding that policy makers will be monitoring the yuan movements closely.
On Oct 10, the ringgit fell to a four-month low against the greenback following China’s move to lower its reference rate for the yuan, bringing the yuan to the lowest level against the US dollar in six years.
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....
lostwayinvestor
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Posted by lostwayinvestor > 2016-09-26 23:41 | Report Abuse
Note:if u read quarter report then u know next quarter foreign exchange gain is offset by fire acciddent in Vietnam factory.