Stocks In Focus SG (Cacola Furniture, Midas Hldgs, Wee Hur Hldgs) – 18/11/14

Cacola Furniture International saw a 38.8 percent drop in revenue to Rmb5.7 million for the third quarter ended 30 September, attributable to decline in sales across all product segments. Despite the weaker performance, as the company was able to cut overall expenses especially a 47 percent reduction in administrative expenses, caused losses to minimise 53.4 percent to Rmb5.1 million. For the nine months, revenue fell 30.9 percent to Rmb17.9 million while losses shrank 31.6 percent to Rmb24.7 million.

Midas Holdings bagged Rmb151.7 million worth of contracts for the supply of high-speed train car body components. These components are slated for delivery in 2014 and 2015 and will subsequently lift the company’s order book to Rmb615.7 million.

Wee Hur Holdings booked a multi-fold gain in revenue to $455.3 million for the third quarter ended 30 September, helped by the full recognition of revenue and gross profit for its industrial development property, Premier@Kaki Bukit. Subsequently, net earnings shifted up to $88.8 million from $4.7 million. For the nine months, revenue grew 145.5 percent to $603 million and earnings jumped 679.8 percent to $102.5 million.

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