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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Press Metal Aluminium Holdings    PMETAL   MYL8869OO009

PRESS METAL ALUMINIUM HOLDINGS

(PMETAL)
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Press Metal : European Union Duties on Products Have Minimal Business Impact

10/14/2020 | 08:57pm EST

By Chester Tay

Press Metal Aluminium Holdings Bhd. said that the 38% tariff imposed by the European Commission on products manufactured by its China subsidiaries will have minimal impact on its business.

The company's Malaysian extrusion business isn't affected by the duties, hence the current direct impact to Press Metal is minimal, the aluminum producer said in a stock exchange filing late Wednesday.

The duty has only been imposed on extrusion products from its Chinese subsidiaries--Press Metal International Ltd. and Press Metal International Technology Ltd., it said.

Press Metal said extrusion revenue to the European Union in 2019 accounted for approximately 4.6% of the group's revenue and about 2.8% to profit after tax.

The company said it would be able to substitute any shortfall in China extrusion facilities with other ready markets. Aside from China, Press Metal said it has extrusion facilities in Malaysia's state of Selangor, which is able to cater to international orders.

Write to Chester Tay at chester.tay@wsj.com

(END) Dow Jones Newswires

10-14-20 2056ET

Stocks mentioned in the article
ChangeLast1st jan.
PRESS METAL ALUMINIUM HOLDINGS 4.69% 6.7 End-of-day quote.44.09%
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Financials
Sales 2020 7 756 M 1 907 M 1 907 M
Net income 2020 439 M 108 M 108 M
Net Debt 2020 1 457 M 358 M 358 M
P/E ratio 2020 64,2x
Yield 2020 0,65%
Capitalization 28 267 M 6 956 M 6 950 M
EV / Sales 2020 3,83x
EV / Sales 2021 2,69x
Nbr of Employees 5 703
Free-Float 29,2%
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Technical analysis trends PRESS METAL ALUMINIUM HOLDINGS
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 7,18 MYR
Last Close Price 7,00 MYR
Spread / Highest target 14,3%
Spread / Average Target 2,57%
Spread / Lowest Target -29,0%
EPS Revisions
Managers
NameTitle
Poh Keong Koon Group Chief Executive Officer & Director
Abdul Rahman bin Ahmad Non-Executive Chairman
Poh Ming Koon Executive Vice Chairman
Poh Tat Koon Executive Director
Poh Weng Koon Executive Director