Interestingly, ELK-Desa also has a furniture trading business, which commenced operations in mid-2015. This business is currently focused on wholesale home furniture sales, domestically. Contribution from this segment, however, is minute at the moment with the company’s profits from hire-purchase forming more than 90% of the entire group’s earnings
Non-bank lender ELK-Desa Resources Bhd
may not be on the radar of that many investors.
But unknown to them, the company has been charting decent enough growth over the past few years.
And, amid the current headwinds such as slower economic growth and poorer consumer sentiment, the firm which makes money by lending funds to consumers who want to buy used vehicles, is looking at a 15%-20% CAGR over a five-year period.
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