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.

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

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