Stock Digest - Elk-Desa Resources Bhd - Eyeing Further Expansion In The Hire Purchase Portfolio

In line with the ELKDESA’s strategic direction to grow its hire purchase portfolio amidst economic recovery environment, the group increased its hire purchase receivables 19.4% YoY and 7.5% QoQ to RM560.3m. Liabilities wise, the group’s bank borrowings increased by 51.9% YoY to RM198.6m as a result of higher drawdown of block discounting facilities to support the increased hire purchase receivables.