Stock Name: Eratat
Company Name: ERATAT LIFESTYLE LIMITED
Eratat Lifestyle (ERAT SP; S$0.122 -HOLD) - A surprise RMB 51.7m sales incentive offset against outstandingreceivables caused 4Q11 net profit to fall 82% yoy. Expect further write-offof receivables in 1Q12/1H12 for renovation subsidy. We continue to advocatecaution.
Source: CIMB 24 February 2012
Company Name: ERATAT LIFESTYLE LIMITED
| Research House: CIMB | Price Call: HOLD | Target Price: 0.122 |
Eratat Lifestyle (ERAT SP; S$0.122 -HOLD) - A surprise RMB 51.7m sales incentive offset against outstandingreceivables caused 4Q11 net profit to fall 82% yoy. Expect further write-offof receivables in 1Q12/1H12 for renovation subsidy. We continue to advocatecaution.
Source: CIMB 24 February 2012
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