POH HUAT RESOURCES HOLDINGS

KLSE (MYR): POHUAT (7088)

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Last Price

1.32

Today's Change

+0.02 (1.54%)

Day's Change

1.31 - 1.32

Trading Volume

56,800

Financial

Show?
Last 10 FY Result
AQR T4Q 31/10/24 31/10/23 31/10/22 31/10/21 31/10/20 31/10/19 31/10/18 31/10/17 31/10/16 31/10/15 CAGR
Revenue 475,703 475,704 475,703 428,111 703,152 554,739 659,505 700,997 621,926 614,269 535,219 453,932 0.52%
PBT 37,854 37,854 37,854 35,571 106,449 37,377 65,490 64,135 57,529 67,214 58,614 47,373 -2.45%
Tax -8,498 -8,498 -8,498 -8,860 -22,397 -5,159 -13,580 -13,236 -10,263 -11,437 -11,851 -8,794 -0.37%
NP 29,356 29,356 29,356 26,711 84,052 32,218 51,910 50,899 47,266 55,777 46,763 38,579 -2.98%
-
NP to SH 29,356 29,356 29,356 26,711 84,052 32,218 51,910 50,899 47,138 55,772 47,064 39,185 -3.15%
-
Tax Rate 22.45% 22.45% 22.45% 24.91% 21.04% 13.80% 20.74% 20.64% 17.84% 17.02% 20.22% 18.56% -
Total Cost 446,347 446,348 446,347 401,400 619,100 522,521 607,595 650,098 574,660 558,492 488,456 415,353 0.80%
-
Net Worth 515,399 515,504 515,399 535,004 521,809 450,770 436,794 368,956 316,985 284,904 243,294 213,703 10.26%
Dividend
AQR T4Q 31/10/24 31/10/23 31/10/22 31/10/21 31/10/20 31/10/19 31/10/18 31/10/17 31/10/16 31/10/15 CAGR
Div 21,195 21,198 21,195 18,548 21,197 13,248 21,600 15,841 13,173 17,088 17,077 17,074 2.42%
Div Payout % 72.20% 72.21% 72.20% 69.44% 25.22% 41.12% 41.61% 31.12% 27.95% 30.64% 36.29% 43.57% -
Equity
AQR T4Q 31/10/24 31/10/23 31/10/22 31/10/21 31/10/20 31/10/19 31/10/18 31/10/17 31/10/16 31/10/15 CAGR
Net Worth 515,399 515,504 515,399 535,004 521,809 450,770 436,794 368,956 316,985 284,904 243,294 213,703 10.26%
NOSH 264,945 265,000 264,945 278,299 278,299 278,299 278,299 242,105 233,232 213,603 226,805 213,425 2.42%
Ratio Analysis
AQR T4Q 31/10/24 31/10/23 31/10/22 31/10/21 31/10/20 31/10/19 31/10/18 31/10/17 31/10/16 31/10/15 CAGR
NP Margin 6.17% 6.17% 6.17% 6.24% 11.95% 5.81% 7.87% 7.26% 7.60% 9.08% 8.74% 8.50% -
ROE 5.70% 5.69% 5.70% 4.99% 16.11% 7.15% 11.88% 13.80% 14.87% 19.58% 19.34% 18.34% -
Per Share
AQR T4Q 31/10/24 31/10/23 31/10/22 31/10/21 31/10/20 31/10/19 31/10/18 31/10/17 31/10/16 31/10/15 CAGR
RPS 179.55 179.51 179.55 161.57 265.37 209.36 274.78 309.75 283.25 287.57 250.72 212.69 -1.86%
EPS 11.08 11.08 11.08 10.08 31.72 12.16 22.14 22.91 21.47 26.11 22.05 18.36 -5.45%
DPS 8.00 8.00 8.00 7.00 8.00 5.00 9.00 7.00 6.00 8.00 8.00 8.00 0.00%
NAPS 1.9453 1.9453 1.9453 2.0191 1.9693 1.7012 1.8199 1.6303 1.4437 1.3338 1.1397 1.0013 7.65%
Adjusted Per Share Value based on latest NOSH - 264,945
AQR T4Q 31/10/24 31/10/23 31/10/22 31/10/21 31/10/20 31/10/19 31/10/18 31/10/17 31/10/16 31/10/15 CAGR
RPS 179.51 179.51 179.51 161.55 265.34 209.34 248.87 264.53 234.69 231.80 201.97 171.30 0.52%
EPS 11.08 11.08 11.08 10.08 31.72 12.16 19.59 19.21 17.79 21.05 17.76 14.79 -3.15%
DPS 8.00 8.00 8.00 7.00 8.00 5.00 8.15 5.98 4.97 6.45 6.44 6.44 2.43%
NAPS 1.9449 1.9453 1.9449 2.0189 1.9691 1.701 1.6483 1.3923 1.1962 1.0751 0.9181 0.8064 10.26%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/10/24 31/10/23 31/10/22 31/10/21 31/10/20 31/10/19 31/10/18 31/10/17 31/10/16 31/10/15 CAGR
Date 30/10/24 30/10/24 30/10/24 31/10/23 31/10/22 29/10/21 30/10/20 31/10/19 31/10/18 31/10/17 31/10/16 30/10/15 -
Price 1.38 1.38 1.38 1.39 1.36 1.46 1.77 1.51 1.46 2.01 1.57 1.49 -
P/RPS 0.77 0.77 0.77 0.86 0.51 0.70 0.64 0.49 0.52 0.70 0.63 0.70 1.06%
P/EPS 12.45 12.46 12.45 13.79 4.29 12.01 8.18 6.71 6.80 7.70 7.12 8.12 4.85%
EY 8.03 8.03 8.03 7.25 23.32 8.33 12.22 14.89 14.70 12.99 14.04 12.32 -4.64%
DY 5.80 5.80 5.80 5.04 5.88 3.42 5.08 4.64 4.11 3.98 5.10 5.37 0.85%
P/NAPS 0.71 0.71 0.71 0.69 0.69 0.86 0.97 0.93 1.01 1.51 1.38 1.49 -7.89%
Price Multiplier on Announcement Date
AQR T4Q 31/10/24 31/10/23 31/10/22 31/10/21 31/10/20 31/10/19 31/10/18 31/10/17 31/10/16 31/10/15 CAGR
Date 19/12/24 19/12/24 19/12/24 14/12/23 30/12/22 30/12/21 23/12/20 31/12/19 12/12/18 20/12/17 22/12/16 31/12/15 -
Price 1.32 1.32 1.32 1.36 1.37 1.36 1.78 1.52 1.48 1.74 1.68 2.05 -
P/RPS 0.74 0.74 0.74 0.84 0.52 0.65 0.65 0.49 0.52 0.61 0.67 0.96 -2.84%
P/EPS 11.91 11.92 11.91 13.49 4.32 11.19 8.23 6.76 6.89 6.66 7.62 11.17 0.71%
EY 8.39 8.39 8.39 7.41 23.15 8.94 12.15 14.80 14.51 15.01 13.12 8.96 -0.72%
DY 6.06 6.06 6.06 5.15 5.84 3.68 5.06 4.61 4.05 4.60 4.76 3.90 5.01%
P/NAPS 0.68 0.68 0.68 0.67 0.70 0.80 0.98 0.93 1.03 1.30 1.47 2.05 -11.52%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
14 people like this. Showing 50 of 9,914 comments

Endgame

Poh Huat management start the recruitment after improving order after headcount recruitment freeze after nearly half year. This is align with the improve order.

2023-03-23 11:06

Endgame

Breaking news: Pohuat to reward long term shareholders in term of bonus issue and special dividend in appreciation of the support

2023-03-23 16:55

observatory

Haha. Source?

2023-03-24 00:24

frankco

https://www.google.com/search?q=poh+huat+job+vacancy&ibp=htl;jobs&sa=X&ved=2ahUKEwiuvumOo_n9AhWXS2wGHW7dAIkQudcGKAF6BAgWEBo#htivrt=jobs&htidocid=bMKNAuhYKJ8AAAAAAAAAAA%3D%3D&fpstate=tldetail

2023-03-26 17:26

cherry88

Anybody attend the AGM next week ?

2023-04-09 17:32

yfchong

Cash in dividend cheers

2023-04-21 09:41

FinanceInRealLife

Post removed.Why?

2023-05-16 19:19

ITreeinvestor

We slash our earnings forecast for FY23F-25F by 23-42%, to account for the decline in household spending. Our TP is reduced to RM1.16

2023-06-27 11:56

frankco

https://tradingeconomics.com/calendar

2023-06-27 15:15

NatsukoMishima

https://www.klsescreener.com/v2/news/view/1173477

Malaysia furniture = glove 2.0!

2023-07-07 12:06

mlmkcomic

Several years ago, the Malaysian furniture sector profits were boosted with the weakening of the Ringgit. Refer to https://focusmalaysia.my/covid-19-doesnt-affect-performance-bursa-malaysia-listed-furniture-companies/. We may be going through the same forex situation. Does it mean that we can expect better performance from furniture companies like Poh Huat?

2023-07-12 08:13

ITreeinvestor

to account for the decline in household spending. Our TP is reduced to RM1.16 after rolling over our valuation base year to 7x

2023-08-10 14:39

DividendGuy67

IB like Public bank doesn't know how to value POHUAT. In March 23, its TP is 1.50. In June 23, it lowered its TP to 1.16, which is just silly, when Net cash+ST investment holding is worth 1.04. Nevertheless, thanks to IB, we are able to collect POHUAT on the cheap, where its investment thesis is a bit better than "FD+". Short term, POHUAT returns should be lower than EPF, but in the medium term, one day, the stock price should rise and give better returns than EPF over the next 3-5 years. Currently, stock unlike to rise fast, because: (1) Management is ultra conservative with its dividend policy and the way it runs its business, prefering to conserve cash, despite cash growing to record levels, and (2) Management anticipates soft market for its revenue in medium term (which is likely to be conservative). So, if you have extra funds (like my portfolio profits) to park at rates better than FD, then, POHUAT is a safe choice. Long term dividend is probably around 7-8 sen, so, at 7 sen, the annual Dividend Yield is solid 5.3%. Even at 1.33 current price, it is still an "Accumulate" in my book if one doesn't have an exposure, but must have 5 year out look at the least to earn higher than 5.3%. Short term like FYE2023, I think POHUAT will show the lowest earnings in past 8 years and so, DPS may drop to say 5 sen, hence, short term I think we will see a very conservative Dividend Yield by Management notwitstanding record level Net Cash, but should still beat FD rates.

2023-10-15 13:17

DividendGuy67

Here's a history of POHUAT Net Cash:
2015: 37m
2016: 43m
2017: 71m
2018: 71m
2019: 120m
2020: 199m
2021: 146m
2022: 249m
2023Q3: 288m.

IB can suppress price as much as they like, but eventually, that Net Cash is going to keep growing i.e. the yearly dividend of 5-8 sen should be extremely safe in the longer term.

The furniture business (home and office) is a solid one. They make money every year. Mr Market has been sleeping but one day, it's going to wake up. Even if it continues to sleep for next 5 years, we get FD+ returns and if 8 sen dividend, EPF returns and the downside is extremely limited long term, but the upside, despite Mr market tendency to sleep for years, will one day wake up and reward us with higher returns.

2023-10-15 13:41

DividendGuy67

Personally, I would not rush in to collect, because I think this year's EPS will look bad, potentially showing its worst EPS. So, looking forward to next 6 months, I think there's good chance for price to drop, hence, I would layer my entry if I didn't have any exposure. Just add at successively lower price. Simple investment thesis.

2023-10-15 13:44

DividendGuy67

So, in summary, I don't like this stock for 3 reasons:
1. I expect 2023FYE to report a low EPS, possibly record low EPS - it's going to cause a lot of people to feel pessimistic.
2. Volatile Net cash - typo, 2020 Net Cash is 182m. So, 2021, its Net Cash dropped quite a lot, from 182m down to 146m. Hence Net cash is not enough reason to invest, as Net Cash can drop.
3. Perpetually conservative company. Waiting for the company to become more realistic might never happen, hence, not good enough reason. Need catalysts to unlock this. The MSWG is still not asking the right questions, allowing Management to get away with being ultra conservative.

2023-10-15 13:56

DividendGuy67

Disclaimer: Some of my figures mentioned might have some minor typo errors, so, do your own diligence, if you are worried about figures that are more accurate. However, the big picture conclusions (based on 1 or 2 significant figures) should remain unchanged. Buffett always say - the best investment thesis should jump out to you. This one doesn't, but its safety jumps up to me as there's massive margin of safety. Still, I would keep this stock as a small % of my portfolio, probably not larger than 4% ever.

2023-10-15 13:59

DividendGuy67

In case you're wondering what happened to the huge drop in Net Cash at FYE2021, I note that its Inventory rose from 93m to 127m. But a year later, inventory drop from 127m to 84m, boosting its cash balances substantially. So, this company requires one to hold at least a 2 year view. So, things will be worse in the coming months, but if you have a long term view and trust its management to boost business value, eventually, odds are good you'll be alright. However, not many investors are really that patient as returns will get worse first, AND, when it recovers is UNCERTAIN.

2023-10-15 14:08

Nemesis1093

I'm coming across this name for the first time. Can i check with fellow investors out there, has this company conducted share buybacks+cancellations in the past before?

2023-11-03 18:17

zen_2k

not that I recall, holding since covid started

2023-11-16 02:03

yfchong

Ok at ada 0.02

2024-02-09 07:58

DividendGuy67

Post removed.Why?

2024-02-17 14:46

lcng123

USD-MYR hits 4.79 will benefit Pohuat in coming QR

2024-02-20 22:56

frankco

Poh huat enter Bull territoary

2024-02-26 10:14

EngineeringProfit

Parking 1 mil here. Cheers!!

2024-03-13 12:05

EngineeringProfit

Pohuat is my favourite

2024-03-13 15:54

EngineeringProfit

Lai....lai.....lai.....

Big or small?

2024-03-14 08:23

EngineeringProfit

The furniture sector shines as a bastion of stability, driven by consistent demand, diverse customer base, home improvement trends, e-commerce growth, innovation, and the inherent value of long-term investments. As consumers continue to prioritize comfort, functionality, and aesthetics in their living spaces, the furniture sector is poised to remain resilient and thrive in the years to come.

2024-03-14 08:27

lcng123

Pohuat share price slowly up. Sign of good coming result ?

2024-03-20 16:35

EngineeringProfit

Downside well taken care of. This counter can only go....hehe

2024-03-20 16:39

Cash99isKing

Finally.
Need 2 catalyst for higher TP
1) good quarter
2) furniture wind

2024-03-20 22:28

kimchuant8

Good quarter results today!

2024-03-29 23:14

yfchong

Last league, final lap to check into, after so many years in value ......

2024-04-06 22:10

yfchong

Apa macam furniture

2024-04-07 18:46

DividendGuy67

POHUAT closed highest for the week (1.51) since last swing high in May 2022. Enough to edge my portfolio to make new all time high again today. Thank-you Mr Market!

2024-04-12 22:03

yfchong

Last league.............................. can beat 1.75 ?

2024-04-13 08:08

yfchong

apa macam....... goes back to 1.35 lah... may be next round to cabut ?

2024-04-21 19:54

cherry88

Who will be attending the AGM this Thur (25/4) ? Please share. thanks...

2024-04-22 11:10

Cash99isKing

Attended. In summary, company is not planning to distribute higher dividend as they are facing a lot of challenges, so need reserve more cash to cope with the potential risks 😕

2024-04-25 23:58

cherry88

No divident + Callenges = SELL

2024-04-26 09:50

Cash99isKing

Still have Dividend, just don't expect significant increment or special dividend despite pohuat having huge cash (at least for short term). Based on their answer is like this

2024-04-26 20:50

yfchong

masak lar...........just wait lor if have bonus issue can also at least temporary jack up the share price

2024-05-01 07:31

calvintaneng

Time to buy Pohuat (Power Huat) was 2014

Now is time for Hexcap

Blog: CATALYSTS: FOR STOCKS TO GO UP THERE MUST BE STRONG CATALYSTS: THE MORE POWERFUL THE CATALYSTS THE MORE POWERFUL THE UPSURGE!

https://klse.i3investor.com/web/forum/forum-thread/608930947

2024-06-17 07:49

NatsukoMishima

Ikea has implemented a global pricing strategy that includes Ingka Group, an Ikea franchisee. It announced that it would invest 6.3 billion yuan in China over the next three years to lower its prices in the country.

Inter Ikea’s supply chain, which covers everything from raw materials up to the final mile – production, procurement, raw materials sourcing, in-house manufacturing, transport and logistics – makes products affordable without compromising on quality, sustainability, form or function, said the company.

“Our primary objective is to reduce costs across our supply chain,” said Waidzunas.

The goal is expected to be pursued through enhancing efficiencies, better utilisation of materials and accelerating automation initiatives

Malaysia furniture sector just like glove , beaten by China , hopeless !

2024-06-20 07:24

NatsukoMishima

Vstecs , ramhill , dnex , swify haulage , iwcity all are multibagger stocks , u should have in your portfolio not sunset furniture srctor just like malaysia glove !

2024-06-20 07:27

yfchong

Can fetch some

2024-08-05 17:33

yfchong

yeah maybe try luck below 1.30

2024-08-11 13:54

curiousq

24Q3 23Q3
Effects on foreign exchange translation (9,996,737) 232,713

Reversing forex gain

2024-09-12 21:08

yfchong

lets get back to RM1.28

2 weeks ago

yfchong

any good for 2025 ?

1 week ago

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