External broker reports(aggregated public sources), TA Securities Holdings Berhad

TA Securities Holdings Bhd

TA Securities Holdings Berhad (TASH) was incorporated in Malaysia on 1 July 1973 and is a wholly-owned subsidiary of TA Enterprise Berhad which is listed on the Main Market of Bursa Malaysia Securities Berhad (BMSB). Currently, the company has an issued and paid-up share capital of RM250 million.

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External broker reports(aggregated public sources)

Equity Bottom-Up

Poh Huat Resources Holdings / Equity Bottom-Up

<p>Excluding a net exceptional loss of RM0.3mn, POHUAT's 9MFY21 core profit of RM35.5mn was lower than expected, accounting for 67.2% and 66.7% of ours and consensus' full-year estimates, respectively. [...] The improved performance was primarily due to the robust earnings performance of the Vietnam operations, which were able to ramp up productivity and furniture shipment. [...] The higher earnings performance was primarily due to higher PBT from the Vietnam operations, while the lower revenue was attributed to lower turnover in the Malaysia operations as a result of FMCO. Following the weaker-than-expected results, we reduce our FY21 utilisation rate assumptions for Malaysia and Vietnam operations from 88% and 93%, respectively, to 78% and 85%.</p>
<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Excluding a net exceptional loss of RM0.3mn, POHUAT's 9MFY21 core profit of RM35.5mn was lower than expected, accounting for 67.2% and 66.7% of ours and consensus' full-year estimates, respectively. [...] The improved performance was primarily due to the robust earnings performance of the Vietnam operations, which were able to ramp up productivity and furniture shipment. [...] The higher earnings performance was primarily due to higher PBT from the Vietnam operations, while the lower revenue was attributed to lower turnover in the Malaysia operations as a result of FMCO. Following the weaker-than-expected results, we reduce our FY21 utilisation rate assumptions for Malaysia and Vietnam operations from 88% and 93%, respectively, to 78% and 85%.
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Earnings were Largely Driven by Vietnam Operations