My broker asked me to consider Hafary. Stock is strong, near 52-week high. The 25K HDB flats this year and 25K next year will need a lot of tiling, sanitary ware, etc.
Hafary is the No.1 in this. Surely, this is a defensive stock. and Growth Stock too!
Bad news recently about over-stating profit has had small effect. The US & Euro storms have not shaken this Hafary.
Just noticed, it's now at 28 cents. Volume of 220,000 -- not bad, in this bad market. Will Hafary touch 30 cents again?
Hafary will get a new catalyst from its property development ventures. Two mentioned in BT, seems like they will be very profitable. If that's the case, Hafary will become a property play and its boring but profitable biz of tiles/stones, etc will be the stable recurring revenue generator. At 24 cents.... mmmmm...... cheap at 6X PE.