Vriddhi Consulting

Punit Khanna

Independent Insight Provider

Equity Bottom-Up

Poh Huat Resources Holdings / Equity Bottom-Up

Poh Huat Resources Holdings Berhad is an investment holding company.  The Company, through its subsidiaries, manufactures and trades furniture and parts.

<ul>
<li>Operations did not make any money. other income led to profits.</li>
<li>Cash per share is MYR 1.11 and the company trades below Cash.</li>
<li>The company is cautious on outlook due to increasing cost, weak demand , supply chain issue and tariffs.</li>
</ul>
    <div class="content-highlight">
    <h2>Raising Money for Persons with Disabilities in Singapore</h2>
    <p><strong><em>For your kind consideration</em></strong></p>
    <p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
    <p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
    <p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a> </p>
    </div>
    


Operations did not make any money. other income led to profits.
Cash per share is MYR 1.11 and the company trades below Cash.
The company is cautious on outlook due to increasing cost, weak demand , supply chain issue and tariffs.

    
    Raising Money for Persons with Disabilities in Singapore
    For your kind consideration
    This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
    All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
    To contribute, please visit this URL. 
    
    

Poh Huat Full Year Results:  Deep Value Situation

<ul>
<li>Market capitalisation is less than cash on its books implying negative enterprise valkue</li>
<li>Leading integrated wooden furniture manufacturer from Malaysia with factories in Vietnam and Malaysia</li>
<li>Consistently profitable including COVID and has Balance Sheet to face downturn</li>
</ul>
    <div class="content-highlight">
    <h2>Raising Money for Persons with Disabilities in Singapore</h2>
    <p><strong><em>For your kind consideration</em></strong></p>
    <p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
    <p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
    <p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a> </p>
    </div>
    


Market capitalisation is less than cash on its books implying negative enterprise valkue
Leading integrated wooden furniture manufacturer from Malaysia with factories in Vietnam and Malaysia
Consistently profitable including COVID and has Balance Sheet to face downturn

    
    Raising Money for Persons with Disabilities in Singapore
    For your kind consideration
    This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
    All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
    To contribute, please visit this URL. 
    
    

Poh Huat Resources: Deep Value Propsition

DKSH Holdings Malaysia / Equity Bottom-Up

DKSH Holdings Malaysia Berhad is principally an investment holding company. The principal activity of the Group is the provisioning of Market Expansion Services, which range from marketing, to sales force management, distribution and logistics, invoicing and credit management, inventory and returned goods management, and other services.

<ul>
<li>The parent has requested DKSH Malaysia to propose DKSH Malaysia to do capital reduction</li>
<li>The capital reduction price is set at at MYR 6.15 </li>
<li>We think this is a very low price and below our fair value. We are not experts, but we believe most of the minority shareholders may not accept this  offer. </li>
</ul>
<div class="content-highlight">
<h2>Raising Money for Persons with Disabilities in Singapore</h2>
<p><strong><em>For your kind consideration</em></strong></p>
<p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
<p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
<p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a> </p>
</div>


The parent has requested DKSH Malaysia to propose DKSH Malaysia to do capital reduction
The capital reduction price is set at at MYR 6.15 
We think this is a very low price and below our fair value. We are not experts, but we believe most of the minority shareholders may not accept this  offer. 


Raising Money for Persons with Disabilities in Singapore
For your kind consideration
This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
To contribute, please visit this URL. 


DKSH Malaysia ( Selective Capital Reduction)

<ul>
<li>Revenues for 9 months up 7% while profits are up 7.5%</li>
<li>Margins improved across both divisions, Healthcare and Consumer. Working capital marginally increased.</li>
<li>4th quarter is the best quarter for the company due to the festive season.</li>
</ul>
<div class="content-highlight">
<h2>Raising Money for Persons with Disabilities in Singapore</h2>
<p><strong><em>For your kind consideration</em></strong></p>
<p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum. We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
<p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
<p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a></p>
</div>


Revenues for 9 months up 7% while profits are up 7.5%
Margins improved across both divisions, Healthcare and Consumer. Working capital marginally increased.
4th quarter is the best quarter for the company due to the festive season.


Raising Money for Persons with Disabilities in Singapore
For your kind consideration
This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum. We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
To contribute, please visit this URL.


Kimly Limited operates and manages coffee shops and food courts. The Company offers prepared foods and drinks for on-premise consumption. Kimly serves customers in Singapore.

<ul>
<li>No surprises in the results, margins better than our anticipation</li>
<li>Business continues to be steady &amp; the company has negative working capital</li>
<li>Kimly maintained dividend of 2 cents with a yield of 5.1% </li>
</ul>
<div class="content-highlight">
<h2>Raising Money for Persons with Disabilities in Singapore</h2>
<p><strong><em>For your kind consideration</em></strong></p>
<p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
<p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
<p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a> </p>
</div>


No surprises in the results, margins better than our anticipation
Business continues to be steady &amp; the company has negative working capital
Kimly maintained dividend of 2 cents with a yield of 5.1% 


Raising Money for Persons with Disabilities in Singapore
For your kind consideration
This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
To contribute, please visit this URL. 


Kimly: Results Slightly Better than Expected

Independent Insight Provider, Vriddhi Consulting

Focused on Asian Small-mid cap market space with long term investment horizon.

Punit Khanna
Independent Insight Provider
• Vriddhi Consulting

Poh Huat Full Year Results: Deep Value Situation

Company's operations are not profitable as demand is facing headwinds, but it has cash rich Balance Sheet which will support the company in downturn.

Punit Khanna

Poh Huat Resources: Deep Value Propsition

Malaysian wooden furniture manufacturer has strong balance sheet and market cap below cash reserves, suggesting negative enterprise value.priced...

Punit Khanna

DKSH Malaysia ( Selective Capital Reduction)

Parent requests DKSH Malaysia for capital reduction at MYR 6.15/share, but we believe it's undervalued and minority shareholders may not accept.

Punit Khanna

DKSH Malaysia: Good Set of 3 Q Results

Cheapest consumer stock in Malaysia and the region with good ROE and low P/E, where earnings growth looks sustainable.

Punit Khanna

Kimly: Results Slightly Better than Expected

Kimly's steady business performance and negative working capital. The company executed well with better-than-expected margins. Maintained a 2-cent...

Punit Khanna

Poh Huat Full Year Results: Deep Value Situation

​Company's operations are not profitable as demand is facing headwinds, but it has cash rich Balance Sheet which will support the company in downturn.

Punit Khanna

Poh Huat Resources: Deep Value Propsition

​Malaysian wooden furniture manufacturer has strong balance sheet and market cap below cash reserves, suggesting negative enterprise value.priced...

Punit Khanna

DKSH Malaysia ( Selective Capital Reduction)

​Parent requests DKSH Malaysia for capital reduction at MYR 6.15/share, but we believe it's undervalued and minority shareholders may not accept.

Punit Khanna

DKSH Malaysia: Good Set of 3 Q Results

Cheapest consumer stock in Malaysia and the region with good ROE and low P/E, where earnings growth looks sustainable. ​

Punit Khanna

Kimly: Results Slightly Better than Expected

​Kimly's steady business performance and negative working capital. The company executed well with better-than-expected margins. Maintained a 2-cent...

Punit Khanna

Company's operations are not profitable as demand is facing headwinds, but it has cash rich Balance Sheet which will support the company in downturn.

Malaysian wooden furniture manufacturer has strong balance sheet and market cap below cash reserves, suggesting negative enterprise value.priced...

Parent requests DKSH Malaysia for capital reduction at MYR 6.15/share, but we believe it's undervalued and minority shareholders may not accept.

Cheapest consumer stock in Malaysia and the region with good ROE and low P/E, where earnings growth looks sustainable.

Kimly's steady business performance and negative working capital. The company executed well with better-than-expected margins. Maintained a 2-cent...