M+ Online
23rd May 2022

Stock Digest - Elk-Desa Resources Bhd - Higher Impairment Allowance Pressured Margin

ELK’s hire purchase receivables stood at RM468.1m as at 4Q22, representing a 10.5% decrease from the previous corresponding quarter. Although Malaysia is transitioning into endemic phase and recovering economy bodes well for ELK’s hire purchase portfolio expansion, we reckon the expansion might be gradual as ELK remained cautious to preserve its asset quality. For the furniture segment, we foresee marginal growth in the near term with more work forces returning to office.

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