CWG – in a tough stationery sector

The stationery sector is facing potential digital disruption. This is best reflected by the ROE of the 4 players in Bursa. You can see that since 2018, except for Pelikan, they have incurred declining ROE.

CWG is no exception with its ROE declining from 14.5 % for FYE 2016 to 5.8 % for FYE 2023. Not surprisingly, its market price declined from RM 0.71 in Dec 2016 to RM 0.34 currently.