External broker reports(aggregated public sources), Hong Leong Investment Bank Berhad

Hong Leong Investment Bank Berhad

External broker reports(aggregated public sources)

Hong Leong Investment Bank Berhad operates as an investment banking company. The Company provides debt and equity funding, private debt securities issuance, merger and acquisitions, initial public offerings, corporate restructuring, and stockbroking services. 

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Equity Bottom-Up

<ul><li>Evergreen recorded 2Q23 core net profit of RM2.9m (1Q23: -RM20.6; YoY: - 82.1%), which brought 1H23’s sum to -RM17.7m (1H22: RM32.8m).</li><li>This came in below our full year net loss forecast of -RM4.9m. The negative deviation was due to lower sales volume recovery from the Malaysian segment.</li><li>Despite the group recording an improvement from the previous quarter, it is unclear if they are able to sustain this recovery in subsequent quarters as uncertainties remain in the US and EU regions, clouding visibility on furniture demand recovery from both regions and thus, its Malaysian segment’s performance. </li></ul>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.

Evergreen recorded 2Q23 core net profit of RM2.9m (1Q23: -RM20.6; YoY: - 82.1%), which brought 1H23’s sum to -RM17.7m (1H22: RM32.8m).This came in below our full year net loss forecast of -RM4.9m. The negative deviation was due to lower sales volume recovery from the Malaysian segment.Despite the group recording an improvement from the previous quarter, it is unclear if they are able to sustain this recovery in subsequent quarters as uncertainties remain in the US and EU regions, clouding visibility on furniture demand recovery from both regions and thus, its Malaysian segment’s performance. 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.

Evergreen Fibreboard - Turnaround but Uncertainties Remain

<ul><li>Evergreen should record an improvement in 2Q23 earnings due to a demand recovery from the Middle East as a result of increasing commercial and residential projects requiring panel boards for furnishing and renovation activities.</li><li>However, the improvement should be partially mitigated by the continued lacklustre performance from the Malaysian segment.</li><li>Operational costs in Malaysia remain elevated from the increase in minimum wage and higher electricity tariffs, while demand for furniture from the US is expected to remain bleak.</li></ul>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.

Evergreen should record an improvement in 2Q23 earnings due to a demand recovery from the Middle East as a result of increasing commercial and residential projects requiring panel boards for furnishing and renovation activities.However, the improvement should be partially mitigated by the continued lacklustre performance from the Malaysian segment.Operational costs in Malaysia remain elevated from the increase in minimum wage and higher electricity tariffs, while demand for furniture from the US is expected to remain bleak.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.

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Thematic (Sector/Industry)

<ul>
<li>SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold mining stocks. These 11 stocks are at different stages in the exploration, development, production cycle and have averaged a 19.0% gain in 2017 YTD.</li>
<li>
Of the three segments, mining industrial minerals has been the strongest performer in the 2017 YTD with an average 30.4% gain, led Alliance Minerals Assets. Coal was the next best performer with the four stocks…</li>
</ul>


SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold mining stocks. These 11 stocks are at different stages in the exploration, development, production cycle and have averaged a 19.0% gain in 2017 YTD.

Of the three segments, mining industrial minerals has been the strongest performer in the 2017 YTD with an average 30.4% gain, led Alliance Minerals Assets. Coal was the next best performer with the four stocks…


Average 19% YTD Gain in Key Mining Stocks

Malaysia

Evergreen Fibreboard Bhd. manufactures medium density fiberboard (MDF), knocked-down wooden furniture, and doors. The Company, through its subsidiaries, also manufactures particle board and MDF and laminates MDF, particleboard, and plywood.

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Evergreen Fibreboard (EVF MK)

Evergreen Fibreboard - Turnaround but Uncertainties Remain

Evergreen recorded 2Q23 core net profit of RM2.9m (1Q23: -RM20.6; YoY: - 82.1%), which brought 1H23’s sum to -RM17.7m (1H22: RM32.8m).

Hong Leong Investment Bank Berhad

Evergreen 20230628 Company Update - HLIB

Evergreen should record an improvement in 2Q23 earnings due to a demand recovery from the Middle East as a result of increasing commercial and...

Hong Leong Investment Bank Berhad

Average 19% YTD Gain in Key Mining Stocks

SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold...

Singapore Exchange Ltd (SGX)

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