Banks are moving towards direction of spinning off their insurance stakes. Foresee maybank will also sell its biggest insurance & takaful arm (Etiqa). This will potentially result in special dividend or capital repayment. BUY!!!

Recent reports in the US showed that new-home sales in April 2016 surged to the highest level in more than
eight years, pointing to a robust spring selling season for homebuilders. The prospects of a rate hike did not
deterred home sales but instead bolstered confidence as it suggests the economy is doing better. Homebuyers
took advantage of easy financing amidst raising household income and historically low mortgage rates.
The US Commerce Department said gross domestic product (GDP) grew at an annual pace of 1.1% in the
quarter, up from an earlier estimate of 0.8% and that the general picture of economic growth remains. With
better economic indicators and pickup in the housing sector in the US, we expect demand from the North
America market to be sustained. The prospects of US interest rate hikes and the continued strength of the US
Dollars also means better purchasing power and better pricing for our products which, if sustained, will also
translate to better bottom-line for the Group in the coming months.

He said Malaysia’s furniture products, for example, had a wide acceptance in the US market. “We are seen as suppliers of quality home and office furniture. Indeed, US buyers often visit the Malaysian International Furniture Fair to directly source their requirements of high-quality functional furniture suited to US consumers’ tastes.

Read More : http://www.nst.com.my/news/2016/04/139673/malaysias-exports-us-surge-although-overall-imports-us-decline

He said Malaysia’s furniture products, for example, had a wide acceptance in the US market. “We are seen as suppliers of quality home and office furniture. Indeed, US buyers often visit the Malaysian International Furniture Fair to directly source their requirements of high-quality functional furniture suited to US consumers’ tastes.

Read More : http://www.nst.com.my/news/2016/04/139673/malaysias-exports-us-surge-although-overall-imports-us-decline

Agree with Kak Rosmah. Increase in home sales and low interest rate will augur well for furniture stocks..

Notwithstanding the above challenges, we are optimistic with regard to our performance for the coming year.
With the buoyant US housing sector and increases in discretionary spending, furniture spending should
continue to improve through the remainder of the year. The positive outlook amongst furniture importers and
retailers in the US and Canada will translate to higher orders and shipment of furniture, both from our
Malaysian and Vietnamese factories. For this, we are proceeding to upgrade the machinery, particularly in
Malaysia to capitalise on the opportunities in the office segment following the Group’s rationalisation efforts.

Mieco Q4 2015 is better than Q4 2014 becos there was one off gain on disposal booked in Q4 2015 result. Read the commentary by management below.

"Despite a stronger fourth quarter revenue, the Group registered a lower pre-tax profit of RM2.5 million when
compared to RM15.4 million a year ago, mainly due to a RM16.1 million gain on disposal of land and buildings in
Semambu, Pahang upon completion of sale in November 2014. The fourth quarter of 2015 saw increased selling
prices as well as higher sale volume whilst raw material costs particularly for wood and diesel, were lower.


The Group achieved a pre-tax profit of RM18.7 million against RM19.4 million in 2014. The strong operational
performance in 2015 was derived from higher plainboard selling prices and increased sales of value-added products,
helped by lower wood and diesel prices

One Q making loss. yoy still better than last year.

As for the nine months period, the Group registered profit before taxation of RM8.4 million as
compared to RM3.0 million in the preceding year corresponding period. The increased in
profit before taxation was mainly attributable to higher sales volume achieved and recognition
of foreign exchange gain.

I guess this counter is under selling pressure bcos of the margin call. As long as the fundamental is good, we should not worry. Ultimately it will go back to its fundamental.

No worries. The co's fundamental is still intact. Good dividend yield.

http://www.theedgemarkets.com/my/article/strong-us-housing-data-offers-ray-hope-slowing-economy

Furniture business will continue to do well. No worries

High dividend yield stock. As the price going lower, it becomes even more attractive. Be greedy when others are fearful.

Apparently panic selling. should buy on weakness.

No worries, this counter also fulfills KYY's selection. Evetually it will go up. http://klse.i3investor.com/blogs/koonyewyinblog/87206.jsp

FLB is one of the stock that fulfills KYY's selection. http://klse.i3investor.com/blogs/koonyewyinblog/87206.jsp

Buy on co's fundamental not based on market sentiment.

No worries, there is no reason to sell as long as co continues doing well with increasing profit each year. Furthermore, this is evidenced by higher dividend payout to reward loyal shareholders.

The Vietnam other plants increase capacity to cope with the demand due to fire incident. So it should be able to continue generating revenue.

Good profit and good dividend!

hyteo1992, The co is doing very well with positive growth in revenue and net profit each year. Not sure what do you mean by structure expansion?

Almost 200% increase in profit and paying another 10 sen dividend. Fantastic!

Mieco's management is taking proactive measures to optimise their costs and operational efficiencies. Take a look at their AR on chairman's statement and you will be able to gauge their potential....

2.6 mil negative goodwill recorded which is non cash item.

The co is making higher profit by 30% as compared to same period last year. Despite higher profit but EPS remains at 0.7 i guess it's because they issued additional share under ESOS. There is also one item called forex translation difference (unrealised gains) of RM1.4 mil as compared to unrealised loss of RM0.7 mil in last year. Conclusion, profit rose and co is benefiting from strengthening USD.

No reason to sell when the co is making more profit this year than last year.

very good co.

Lamborghini, 5 sen or 0.05 sen?

Yeah TP RM2.50

This co is disposing of its core business?

Trending up...

Patience is the game!

at least RM2.5...hehe

Lamborghini, mind to share yours if you disagree? hehe

the latest Q earnings has spillover from Q1 earnings. Therefore, I would say annualised earning should be around 20 sen. With that, PE of 10 will give a TP of RM2. My view only :)

Zzas, how to arrive at rm3?

If you look at income statement, expenses are deducted from gross profit to arrive at PBT. However, when comes to tax comp. certain expenses are not allowable and therefore they need to add back to arrive the adjusted income. For this double deduction, it simply means these expenses are not only allowable but it can further deduct one time. That means company is paying lesser tax. Hope this can help you.

agree with tksw. And US home sale data also on uptrend :-)

Impressive set of quarter result. Higher average selling price as a result of stronger USD!

Hi Mr. OTB, what's your TP for YSPSAH? Mind to share? Thanks. Although I'm not your subscriber but I do agree with your investment philosophy. :-)

Q2 2015 Q2 2014, there were big increase in terms of profit. It shows the company is doing well. Of cos if compare with Q1 2015, there were decrease. I would say it should compare with same period last year instead of Q1 2015. Bcos, this will eliminate the seasonal factors.

With the weakening Ringgit against USD, no doubt this stock will outperform. Extracts from Annual Report 2014 Chairman’s statement below:

“The overall improvement in the financial performance was mainly due to the weakening of Ringgit against USD which favours our export sale and the result of a better production yield.”

“Though the increasing cost of production has pressured the Group’s performance during the FY2014, however the Group managed to achieve growth in its earnings mainly benefitting from the strengthening of the USD against the Ringgit and the increasing demand for plywood from the US market.”

65% of FY 2014 revenue were from US market.

Hopefully they will give bonus share.

Hi Lim Elson, where to get the kenanga report?

I'm still upbeat on Pmetal :)

Key take aways from Press Metal Conference Call

1. Removal of export tax is applicable mainly on wire rods- semi-finished product

2. Despite removal of export tax, VAT of 17% is still applicable (no rebate) and therefore not competitive for the China players to export larger amount than they already have.

3. Aluminum wire rods from China are of lower quality and less in demand by regional buyers.

4. China's energy cost is still higher compared to PMetal.

5. Coy not expecting China producers to flood the market with this change of ruling.

6. Current Japan premium at USD250/tonne is seen as healthy. It should also help to deter China players from exporting aggressively at current premium.

stockworm, but the aluminium price still at 19k ++. Not a big drop

why drop so much?

Hobbit, where u heard the news? hehe.

perhaps the merger deal is imminent. :-)

my remisier said the management still recommending to buy