Hafary: No recent news on Hafary to explain rise in stock but note counter’s lack of liquidity. Semi-annual reported results are expected on 23rd Aug. Latest report by CIMB on 21st June notes that stock’s P/E is cheap and has strong earnings growth although liquidity is an issue, est fair value of $0.26-0.33…
Incidentally, co has major shareholders similar to that of Oxley with Oxley’s Ching Chiat Kwong holding a 9.8% stake in Hafary and See Ching Low with a 41.9% stake in Hafary and 27.1% stake in Oxley. The tile supplier co now trades at 5.0 trailing P/E and has mere mkt cap of $38.2m.
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