Excerpts from CGSCIMB report

Enviro-Hub Holdings Ltd (SGX: L23)

Enviro-Hub Holdings Ltd (ENVH) plans to focus on growing its e-waste recycling and healthcare (gloves/pharmacies) segments from FY22F onwards. ENVH is trading at 0.9x CY22F P/BV, vs. e-waste recycling peers at 1.5x CY22F P/BV and glove peers at 0.8x CY22F P/BV.

A mini conglomerate with e-waste recycling as its core driver

ENVH owns four segments: Trading, recycling, and refining of e-waste/metals Manufacturing and trading of healthcare products Property investments and management, and Piling contracts, construction, rental, and servicing of machinery. In FY21, ENVH penetrated the glove manufacturing and healthcare consumable sectors through the 100% acquisition of Pastel Glove Sdn Bhd, a Malaysian glove company.

Revenue for e-waste recycling could jump 50% yoy in FY22F

ENVH is a leading service provider of trading, recycling, and refining of e-waste. It derives revenue through the sale of precious metals and...