haha... confirmed this wahahaha is the abcb who had been banned, based on what he wrote... simply stupid...

harloooooo wahahaha a.k.a abcb a.k.a. clown:

Evergreen is NOT a furniture maker... if u dunno anything, pls just shut up... it is very stupid of you to compare Evergreen with furniture makers like Liihen, Pohuat, Latitud or Homeritz...

You know nothing about Evergreen but act like an expert.. that makes us here really sick of you...

Admin of i3, can you please ban this clown again... we strongly demand for banning this joker who posted wrong and misleading info...

wow... today went down a lot.. any reason?

2017 net profit is expected to break RM100m (more than its peak in 2015 of RM93m)...

is this possible?
let's review:

in 2015, USD/MYR is around 4.2-4.4
in 1st half of 2016, USD/MYR dropped significantly to around 3.8-3.9.
in 2017, USD/MYR is expected to return to 4.4-4.5 or even higher... with this, plus the new expansion of RTA, MDF & particleboard (premium grade)... i think net profit of RM100m is achievable... this 100m has taken into account of lower average selling price (ASP).. else it will be more... and in 2015, the adjusted share price hit as high as RM1.70 (after adjustment from bonus issue of 2:1)... so by end of 2017, it is not hard to see the price to go back to this value or higher if the performance catches up... can you hold for one year? no, then pls skip this share...

btw, i dunno from where you got that analysis... i showed u one from RHB:

29 November 2016
Looking Forward To 2017

We expect Evergreen to fare better in 2017 as its new capacity expansion,
coupled with our revised USD/MYR assumption of 4.15 (from 3.80), would
help to boost earnings visibility over the medium term. Maintain BUY with
our TP tweaked to MYR1.24 (from MYR1.30, 23% upside, 10x 2017F P/E)
following our earnings revision. This is as we factor in lower ASPs going
forward to take into account the current stiffening pricing competition.

Victimised by low oil prices. In our view, the current low oil price environment
has caused some of Evergreen Fibreboard’s (Evergreen) Middle East clients
(which makes up close to 50% of total group sales) to defer/cancel their orders
for its medium-density fibreboard (MDF) products in 2016. To mitigate this, we
gathered that management has been channelling its products to other markets,
such as the developing South-East Asia region. We see this as an interim
measure to help offset the negative impact to its bottomline. As we anticipate
crude oil to trade at a higher average of USD60/bbl in 2017, we believe demand
for MDFs would pick up accordingly.

2017 to benefit from capacity expansion. Housed under its Batu Pahat plant,
the group’s maiden ready-to-assemble (RTA) furniture line is currently in rampup
mode after being commissioned in June. We expect delivery and installation
of the proposed second RTA line in due course, with official commissioning by
mid-2017. On top of that, we gather that the installation of its new integrated
particleboard/MDF production line is currently ongoing at its Segamat plant. We
expect commercial production to kick-start come 2Q17. Upon commissioning,
Evergreen would be able to produce premium particleboards at quality grades
of E1, E0 and Super E0.

Forecast revisions. We cut our FY16F-18F EPS by 3-15% as we revamp our
model to take into account several key assumptions, including:
i. Revised USD/MYR of 4.15 going forward (from 3.80);
ii. Lower ASPs of USD170-180/cu m (from USD180-190);
iii. Higher effective tax rate of 24% for 2016 (from 20%).

Maintain BUY. Our TP dips slightly to MYR1.24 (from MYR1.30, 23% upside)
following our earnings revisions, which are based on an unchanged 10x 2017F
target P/E. We expect earnings to rebound in 2017, as its ongoing capacity
expansion would likely propel earnings to break the MYR100m threshold.
Valuations are undemanding. Maintain BUY.

wahahaha.. thanks for posting the above analysis.. in fact, it says that 2017 will be a better year for evergreen and that is why we are investing in it... it seems like you were trying to sabotage evergreen but actually help to promote it.. haha...

the way this wahahaha wrote reminds me of abcb, who had been banned by i3.
I think this is his second identity (as abcb also thought that Hevea is the leading MDF player.. that is very funny)...
come on, wahahaha (abcb multiple), pls dun create more joke with your ignorance... thanks.

wahahaha.. thanks for playing the role of the joker/clown here with your statement:

hevea is dominating in MDF segment which is more resilient and MDF price is less volatile.

~~~~~~~~~~~~

I am now 100% sure that you do not even know the nature of business for Evergreen and Heveaboard...

who is the 1st MDF exporter in ASEAN? You dunno
Is Hevea selling MDF or particleboards - you dunno...

I feel very sad for your ignorance (yet pretended like expert)...

And on the debt: per what Raider said (that is fact from quarterly report):

Shareholder funds Rm 1 billion
Got cash Rm 141 million
Borrowing Rm 215 million

go read Evergreen Q3 report before you make a fool of yourself here... that is very funny and silly

at current price of RM1.62, it gives potential return of 72.8%

assume full year revenue and profit from DOSB to GESHEN (at 70% stake) = RM29.476M & RM6.972M. Based on outstanding shares of 76.908M, the additional EPS contributed by DOSB alone (in 2017, assume annualized profit without any growth) = 9.07sen!!! So you now see why I said the DOSB acquisition is very interesting... assuming 2017 EPS = 17sen + 9 sen = 28sen...
this share is worth around RM2.80 at PE10 (simple calculation)...

so we can expect the revenue and profit from 100% Polyplas & 70% DOSB to contribute positively to GESHEN in the upcoming quarters even years...

if you read the Q3 2016 quarterly report, it says that:

The group has recorded a significant increase in profit before tax to RM8.75 million for the
current period from RM3.48 million in the immediate preceding quarter. Such increase is
also due to contribution from the newly acquired subsidiary as disclosed in Note A9 and
effective cost management.

This is a significant improvement from Q2 due to the acquisition of:

1) The Group have acquired the remaining 25% equity interest in Polyplas Sdn. Bhd
2) The Group have acquired 70% equity interest in Demand Options Sdn. Bhd. (“DOSB”)

But what is interesting is: (for 2nd acquisition):

The fair value of the identifiable net assets of DOSB at the date of acquisition were:-
RM’000
Fair value of identifiable net assets acquired 15,081
Less: Non-controlling interests (4,549)
Add: Goodwill on acquisition 2,468
------------------
Total purchase consideration 13,000
Cash and cash equivalents acquired 71
------------------
Net cash outflow for acquisition of a subsidiary 13,071
==========
The acquired subsidiary has contributed the following results to the Group:-
RM’000
Revenue 7,369
Profit after taxation 1,743
==========
If the acquisition had taken place at the beginning of the financial period, the Group’s
revenue and profit after taxation from continuing operations would have been
RM151.03 million and RM10.35 million respectively.

net cash flow generated from operation has doubled from 80M to 151M...

stockraider... yes, that is the current balance sheet of Evergreen... looks very healthy.. in fact, cash has grown from 116M to 141M...

Hi FreeAsABird, i agree with your statement. For different size of business and different type of business, we can't compare the debt directly as it is apple to orange comparison... Evergreen business scale is much larger and their MDF business is more capital intensive compared to Hevea's. It is just like you can't compare with Homeritz as well as Homeritz's furniture business does not require a lot of advanced & expensive machineries (Homeritz requires mainly skilled workers to assemble the sofa, dining chairs, bed frames etc)... so it is not fair to compare just like that... Evergreen has a lot of imported machines that are efficient (very much automated and require less direct labors), that are able to churn out high quality MDF/particleboards... furthermore, I feel that Evergreen's debt level is acceptable after considering all these factors...

wahahaha... i believe you do not understand Evergreen's business in details (perhaps you do not even understand what Hevea is doing too)... please do your homework before giving your comments... Hevea is not Evergreen's direct competitor as both are doing very different business even though there is a slight overlap of scope.
Evergreen is mainly doing MDF export while Hevea on particle boards. Although Evergreen is also selling some particle boards, but the amount is not significant. Evergreen also does value-added MDF like veneer, etc.. but Hevea does not... both are involved in RTA but they are very different type of RTA... pls la.. do ur homeword before you comment.. i guess u r diehard Hevea supporter and would like to sabotage evergreen without any good fact... ppl will laugh at you here...

If you study Evergreen in depth, you will know that 2017 will be a new chapter for this company... details and why i said so? do your homework.. i am not gonna spoon feed you...

wow... 652millions worth of contract.. not bad.. no wonder the price went up...

prince4, thanks for your observation

based on trailing 4 quarters EPS of 2sen, it is trading at 12x PE, which is deemed quite high for such a small cap like RGB... i think RGB is fairly priced in now... hard to go up more, partly due to the reason of a lot of profit taking from the huge amount of outstanding shares (1.32billion outstanding shares!!!)

Hi R40s, that could be one of the possible reasons (assumed)... ^^

Cold Eye also sold Prlexus, does that imply something bad? hmmm...

no vulgar words please

both Iloveshare88 and Dudu need to learn to improve their language

hi R40s, in the latest 2016 annual report, Fong Siling is no longer the 30 top shareholders.. he had sold his shares... i remembered he was promoting this share in a recent talk... i did not expect Cold Eye to have silently sold his shares... haiz...

seahteoh, i think you have a point there...

dividend yield is about 5%, a lot better than FD...

Yippy68, thanks for your sharing..

the trend of Zhulian is very much like HaiO... dropped a lot from the highest point, then will slowly pick up (when the sales and profit recovers)...

dividend play, not bad.. seems like it has bottomed out.. collecting now...

and also Zhulian... ZHulian has dropped a lot... dividend yield is good now

I just bought some PANSAR share today. as I noticed they have been giving consistent good dividends... market is volatile now, I am aiming dividend shares like Pansar & Uchitec...

Lincorn, 2sen/40sen (share price) still gives 5% Dividend Yield.. much better than bank FD, right?

yeah, i am also curious... anyone has other info to share?

Sales, I can only think of one reason: investors expect 2016 full year EPS to be less than 2015... and from the current trend, it is very likely to be that way...

anyone can share other info?

from my observation, Willow had fabulous 2015 Q4 result where the EPS was as high as 2.90sen (RM7million net profit). But this is a one time deal best result and it will unlikely happen again for Q4 2016... so I would expect full year 2016 EPS and net profit will be less than 2015.. perhaps that is why many are selling now...

wow... what happened to Willow today? drop so much!!! any insider news?

I have been watching the heated argument and bully in this forum for quite some time. I think it is time for me to provide a fair comment.

I must say that I do not agree 100% to what Iloveshare88 said. But by looking at what Dudu mentioned to him: called him Dog, cursed him to commit suicide, i have to say that this Dudu has a very problematic personality.

If someone has very low moral and ethic, we have to mind his intention. Today he can build up some number of followers, tomorrow he can betray them in stock market by using "pump & dump" method (just like someone mentioned above about the blogger Dali)

i also noticed that he silently sold his shares while he was promoting it to others.


人品有问题，就没有股品。介绍你买股就要小心。

Hi fishing_leg, one of my cousins is working for RGB and he told me that only the bosses and directors are getting all the benefits. they get nothing