On Tuesday at 11:00 AM (Bangkok time), the share price of Malee Group Public Company Limited (SET: MALEE) dropped by 9.40% or THB 1.10 to THB 10.60, with a trading value of THB 236.14 million.
Finansia Syrus Securities (FSS) has characterized the sentiment of the analyst meeting regarding MALEE as pessimistic, attributing it to mounting pressure from adverse factors. The escalating raw material expenses related to orange and coconut, coupled with dwindling orders from two OEM clients commencing in the third quarter of 2024, is anticipated to impact MALEE’s revenue and gross profit margins negatively.
This downward trend in financial performance has been evident since the second quarter of 2024. Furthermore, while the company posted satisfactory earnings in the first quarter of 2024, it is believed to represent the peak level for the year.
Meanwhile, FSS expected an improved performance outlook for MALEE in the fiscal year 2024 compared to 2023, attributing to the company’s low base, while also closely monitoring the company’s trajectory under new management. There is optimism regarding MALEE’s potential to enhance its market share and ascend to the leading position in Thailand, alongside securing additional deals with OEM clients.
