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Overview
Financial Highlight
Headlines
Business Background Latitude Tree Holdings Bhd is a Malaysian based company operates as an integrated household furniture manufacturer. The business activity of the group is organised into business units based on their products and services and has three reportable operating segments which are Manufacturing, Rental of Property, Plant and Equipment and Investment Holding. The company derives the majority of revenue from manufacturing activities which is operated from it's over four factories in Malaysia, approximately two factories in Vietnam and over one factory in Thailand and it is engaged in the manufacturing and sale of wooden furniture and components particularly rubber-wood furniture. It offers products related to bedroom collection sets, dinning collection sets, and living room collection sets.
  WarrenBuffalo Not necessary, this company big loss due to Fire Incident this quarter. Causing Inventory and plant write off rm13.9 Million, which is one off expenses and might able to get claim from insurance in coming quarters. 29/08/2018 12:18 AM  deepsea Warren B, you are good reader, able to analyse properly...…..unlike others who failed to read properly...…hmmm due to poor understanding of English??? Waiting to collect from today onward, hopefully there are many stupid sellers who failed read properly....... 29/08/2018 9:14 AM cherry88 http://www.bursamalaysia.com/market/listed-companies/company-announcements/5796985 29/08/2018 10:41 AM deepsea too many buyers were buying/collecting ...........the company manages to buy back few lots only. Ha ha ha ..........anyway, few kiasi/stupig fools sold at below 3.20........thank you for selling below 3.20....he hee hee 29/08/2018 5:54 PM deepsea Good results compared to previous qtr (Q4/2018) Revenue increased by 23% and GP increased by 54% to RM24.6mil. 28/11/2018 11:07 AM commonsense At first glance, investor would think that Latitud Tree has a very rich valuation at almost 20x trailing PE. However, if you look closely at their financials, the PE actually went up substantially due the the very weak quarter of 3Q18 and 4Q18 (FY end in June), where the company only managed to record a profit of RM2.4mil and a loss of RM13.4mil respectively. FY19 seems to be a lot better given that market demand from US for furniture has increase substantially due to the US govt decision to imposed a 10% tariff on all furniture coming from China in the middle of 2018. Management has actually indicated that they were forced to reject some of the orders from their US customers due to the fact that they are already running at almost full capacity. At the moment, they only accept orders that commands higher profit margins which actually bodes really well for investors. Given that more than 90% of their sales are for the US market, the strengthening of the USD vs RM would only help increase the margins even further. Investors should expect a sharp rebound of the company's profit in 3Q19 (expected to be out this month) due to higher demands for higher profit margins products and also a more favorable forex exchange rate during the period (average 3Q19 for USD is 4.09 vs 3Q18 of only 3.92). Total profit should reach at least RM50mil in FY19. At the current share price the company is being valued at only 7.5x PE. PB is also low at only 0.7x. The company has a very strong balance sheet with a net cash position of RM123mil as of Dec 2018. Best Regards. 02/05/2019 5:02 PM commonsense This company is actually a beneficiary from the escalation of the trade war between US and China. (Actually most furniture companies are beneficiaries. But in particular those with high US concentration sales like Lii Hen and Latitude) 65% of US import of furniture comes from china (amounting to around USD 30bil ) Since mid of last year most US furniture companies has started to diversify their value chain for furniture outside of China of which Vietnam is the main beneficiaries of this. The difference between Latitude and other Malaysia listed companies is that Latitude main plant is actually located in Vietnam. Since end of last year, the company had received substantial increased of orders from their US customers (US market consist of 95% of the group revenue and profit). This has forced the company to only accept high margins order. refer to article: https://www.thestar.com.my/business/business-news/2019/04/11/trump-trade-war-turns-vietnamese-furniture-maker-into-a-winner/ Now since the tariff imposed by US to Chinese furnitures increased from 10% to 25%, investors should expect that there will be more orders from the US customers. Anyway, investors should expect Latitude to deliver a substantial jump in profit for the next 2 quarterly result at least. Regards. 13/05/2019 11:53 AM RainT LATITUDE kiamsiap in dividend go invest in LIIHEN better , high and consistent dividend payment 18/05/2019 12:12 PM swordwa2 Administrative expenses increased by 2.7m(49%),from 5.6m to 8.4m. This amount is even greater than total loss in current quarter(2m) but there is no explanation provided in qtr report regarding the hike 31/05/2019 12:19 AM value88 Bought some today bcos it is selling cheap. The last quarter's loss was actually not that much if the tax rate was not so high. The 1H of the year is always seasonally weak quarter for Latitude. The coming 2H will perform better. In addition, USD has strengthened in 3QCY19, forex gain will boost the earnings. At current price level, Latitude is selling at merely 0.49x P/BV for a net cash and low L/E company. 13/09/2019 5:13 PM  positiontrader In spite of Company aggresive share buy back, Latitude Tree is still plunging like mad. Chart wise, it is very BEARISH. Any reasons for this plunge? It appear the really bad news haven't surface yet. 16/09/2019 3:19 PM remus Most furniture companies, Liihen, Homeritz, Poh Huat last few quarters revenue & profit all on up trend, benefit from trade war and strong USD. how come Latitude perform so badly ? Isn't it in same industry and shld benefit the same ... ? 20/09/2019 3:44 PM shpg22 Downgrade LATITUD to 1.85. Big dive in revenue a sign of worst yet to come. Shift to other furniture stock like LIIHEN or POHUAT 25/11/2019 7:43 PM Bursababy Year 2020..... Latitude is waking up now.... LiiHen and PohHuat are stepping aside now..... 21/01/2020 6:19 PM cherry88 Latitude used to be the largest furniture stock in Bursa, but now...The falling of the founder really hit this company. 26/02/2020 8:52 AM  |
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