remain strong as many countries continue to adopt the work-from-home practice to contain the spread of the Covid-19 virus.
The group has reportedly been receiving very strong sales orders for delivery until November 2021.
Demand for furniture has remained resilient as employees from around the globe continued to work from home.
Based on data from the Malaysia External Trade Statistics, furniture exports from Malaysia to north America have increased significantly.
This has prompted TA Research to maintain its upbeat view on the outlook for Poh Huat.
The research house also pointed out that both Poh Huat’s plants in Malaysia and Vietnam are currently operating at an average utilisation rate of more than 90%.
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PETALING JAYA: Analysts have raised their earnings projections for Sunway Bhd as the group, which is one of Malaysia’s largest conglomerates, enters financial year 2021 (FY21) with a bigger sales target and new property launch plans.
TA Securities Research said it has revised its FY21 and FY22 earnings forecasts higher by 1.6% and 2.8%, respectively, to reflect the change in property sales assumptions.
“The group is targeting new sales of RM1.6bil this year, underpinned by new projects worth RM2.8bil and other existing projects.
“Of the RM2.8bil new launches, 60% comprise projects overseas, namely, Singapore (32%) and China (28%) with the balance 40% from the Klang Valley, ” the research house stated in a note.
KUALA LUMPUR (Jan 6): Crude palm oil (CPO) futures contract, which has been on a rally, hit its highest level in nearly 12 years today, amid concerns heavy rains will hurt output and curb supplies in Malaysia, which in turn would further trim stockpiles.
The one-month CPO futures contract, deliverable for February 2021, was trading at RM4,017 per tonne today the first time CPO prices have breached the RM4,000-mark since the commodity boom in early 2008.
The previous all-time high for CPO futures was at RM4,321 per tonne back in March 2008, based on available data on Bloomberg.
According to Bursa Malaysia Derivatives, the CPO futures contract for March 2021 was RM122 higher at RM3,877 per tonne, while for April 2021, it was up RM118 at RM3,733 per tonne.