Today I would like to have a look at latest financial result of PANAMY which was released at end of May:
Aiks..........
Worse than last year............
The result was quite bad........><
Both the Home Appliance and Fan products segment were doing badly:
Geographical segment:
Except Malaysia local market,
other areas were not doing well,
especially the Middle East market.
Review by the management:
The main problem was export market,
especially Middle East market which affected by trade sanctions imposed by US and liquidity issues faced by a major distributor.
Following the droping of revenue,
reversal of foreign exchange gain and SST effect,
the profit also dropped.
Outlook by management:
The management expected that Middle East market will slowly recover,
and more efforts will be put into seeking new markets especially Vietnam and Philippines.
Also,
cost reduction measures are being implemented.
I believe that for those who followed my investment portfolio,
already know that I sold most of my PANAMY shares.
Reason?
I expected that the financial result will be quite bad,
thus the dividend will be greatly reduced.
Out of my expectation,
PANAMY gave a slap on my face:
211 sen per share!
The dividend for whole year will be 226 sen per share!
I felt sad that I am missing out this generous dividend.............
That's all for the financial report,
for more details please feel free to download it from BURSA website and read it.
As for whether PANAMY is worthy to invest or not?
Investment is about doing own thinking, making own decision.
Thanks for reading.
I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.
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