Post removed.Why?

Post removed.Why?

For Q4FY2016, the Group recorded a Revenue of RM33.92 million and PBT of RM5.547 million representing decreases of 11% and 38% respectively, compared with Q4FY15. The less favourable result for Q4FY2016 was attributed to the reduction in volume sold of 8% compared with Q4FY2015.

further headwinds to Homeritz as indicated in their latest quarterly report:

The volume sold declined, arising from reduction of manpower stemming from the government’s decision to temporarily freeze the intake of foreign workers for all sector announced in February 2016. The shortage of foreign workers had affected the performance of the Group in Q4FY2016.

等不到外劳心灰．麻坡家具业酝酿撤资
引进外劳问题何时解？

麻坡家具业面对超过1年的劳力短缺问题，令业者们望穿秋水苦盼不来，心灰意冷下，酝酿撤资或迁厂另谋出路。

麻坡家具业者已尽可能依赖机械化生产，惟机械仍须人力才可运作。（图：星洲日报）
（柔佛．麻坡15日讯）引进外劳问题何时解？

麻坡家具业面对超过1年的劳力短缺问题，令业者们望穿秋水苦盼不来，心灰意冷下，酝酿撤资或迁厂另谋出路。

麻坡是全国最主要的家具出口重镇，设有逾600家大小不一的家具厂，外劳短缺的问题，已造成不少厂家关闭或面临亏损，让白手起家的他们倍感受挫。

家具业者向《星洲日报》表示，制造业并非如某些部长所说的不喜欢聘请本地人，而是应聘的本地人工作态度不负责任，当局根本不了解制造业所面对的问题，导致业者们一年过得比一年更辛苦，造成不少小型家具厂因此倒闭。


打击马家具业信誉

他们指出，家具厂外劳主要来自尼泊尔、孟加拉及巴基斯坦等国家，尼泊尔外劳大多数在两三年的合约到期就不会再续约，只有孟加拉外劳会做得比较长久，但是目前却面对政府不开放引进外劳，以致家具厂面临外劳“有出无进”的窘境，导致厂内生产部大受影响，严重影响出货期及外国订单量，打击我国家具业在国际间的良好信誉。

他们说，外劳政策朝令夕改，导致外劳短缺问题出现恶性循环状态，严重打击制造业的运作，以致外资厂业者无所适从，不少业者曾谈及撤厂事宜，若再无法解决劳力问题，不排除会撤资迁厂。

他们直言，一旦迁厂，势必会大量减少本地人的就职机会，以致更多人处于失业状态。


黄胤洧：自动化仍需人操作

创立已25年的家具出口厂董事经理黄胤洧坦言，家具厂属于制造业，就算是自动化生产也需有人操作，而外劳是维持制造业的根基。

他举例说，就如该厂需要大约400名外劳才能正常运作，但如今仅剩近300名员工，就算眼前有无数的订单，也不敢随意答应顾客交货期，这不仅令他们倍感辛苦与压力，也对政府引进外劳的政策感到心灰意冷。


外劳短缺导致不少家具厂的生产部呈“休业”状态，严重影响工厂的出货效率。（图：星洲日报）

本地人不愿加班

“我们也希望聘请长期的本地劳工，但是，本地人的工作责任感不强，经常请假、旷工或不愿加班，严重影响工厂运作。

“反之，外劳则以赚钱为目标，愿意刻苦耐劳地工作及加班，但政策因素造成外劳刚刚熟悉生产线的工作，就会因合约到期而返乡或朝更高薪的国家谋生，以致我国家具厂成了培训外劳的基地，让受训后外劳在其他国家更具竞争力。”

他强调，为了继续维持工厂正常运作，他们都根据政府的程序，通过正规管道申请外劳，但是当局为何仍不愿提供外劳给业者？

他认为，外劳短缺问题已带来连串性后果，包括交货期被拖延、顾客流失向其他国家订货，如已设家具厂的中国、土耳其、巴西及越南等地，促使我国成熟的家具业者蒙受信誉及信用损失。


林丽兰：基层垮上层也失业

麻坡巴力加米尔工业区外资家具厂执行董事林丽兰则说，政府要求制造业朝自动化生产固然是一件好事，但是家具产品始终需要人力移动板块，就算业者尝试购买了许多价格高昂的生产机器，期盼能减少对劳力的依赖，但他们发现家具成品最终仍须人手处理，并非能像电子业般全权交给机器代工。

也是马来西亚家具总会总财政的林丽兰认为，在制造业方面，外劳属于基层员工，若没有外劳做好基层工作，上面的管理及行政人员也会失业，因此外劳并非是来抢走本地人的工作，反而是为本地人创造更多的就业机会，继续维持制造业的需求平衡状态，否则基层垮了、上层也就倒了。

她期盼外界可了解业者们的处境，同时吁请当局听取业者们的心声，尽快开放引进外劳，恢复制造业者们的信心，而非以自动化生产、聘请本地员工等诸多藉口作为推搪，导致我国家具业在国际间的竞争力越来越低。


陈文海：制定明确外劳制度

麻坡家具同业商会执行顾问陈文海则认为，当局应在引进外劳的政策上制定明确的制度，让业者可视乎所需的人力依据程序提交申请。

他说，当局应尽快处理业者的诉求，而非让业者面对模棱两可的情况，影响业者原有的营运规划与投资计划。

他说，本地家具业一直有新血加入，而且我国家具在国际享有盛名，只要当局在外劳问题上妥善处理，业者就能迎合政府预设的百亿出口目标迈进。


傅良亚：近30年最严重灾难

麻坡家具同业商会秘书长傅良亚表示，我国家具业发展稳定，而且出口率名列全球第八，目前面对万事俱备严欠人力的问题，以致家具厂出现不延续的情况，可谓麻坡家具业近30年来最严重的灾难。

他说，家具业是政府鼓励发展的行业，而公会为了延续家具业的竞争及稳定，积极与当局配合开办技职发展、规划家具工业地等，但却面对劳工短缺的问题，超乎他们所能控制，直接影响整个行业的后续发展及现在的操作。

他相信，种植与原产业部长拿督斯里马袖强10月间亲睹家具厂生产部停顿情况后，已了解业者们所面对的情况并着手处理，希望政府可尽快回应业者的诉求，解决劳力短缺的问题。

文章来源：
星洲日報‧2016.12.15

i3 admin, pls delete this Bangladesh advertisement here.. it is annoying.. thanks..

star-what joker, this is all fact about the declining profit of Hevea, right?
Do you still want to buy in a share that has been fully valued (after 2 years of growth, and unlikely to grow much in future)?
Hevea is no doubt a well managed company, but the point is about timing. Buying a share at high price is not wise, looking into the fact that their growth is not seen anymore.

in fact, we can see that Hevea has almost hit their bottleneck and the net profit starts to drop:

https://3.bp.blogspot.com/-pumNiHY8EFs/WDQpldJtKwI/AAAAAAAARZY/rzslmtxyowg-GU6QycfAuTZTeLi5JANQQCLcB/s1600/2.png

you can see that their best performance was last year and i believe the growth has stopped

star-what joker, this is all fact about the declining profit of Hevea, right?
Do you still want to buy in a share that has been fully valued (after 2 years of growth, and unlikely to grow much in future)?
Hevea is no doubt a well managed company, but the point is about timing. Buying a share at high price is not wise, looking into the fact that their growth is not seen anymore.

in fact, we can see that Hevea has almost hit their bottleneck and the net profit starts to drop:

https://3.bp.blogspot.com/-pumNiHY8EFs/WDQpldJtKwI/AAAAAAAARZY/rzslmtxyowg-GU6QycfAuTZTeLi5JANQQCLcB/s1600/2.png

you can see that their best performance was last year and i believe the growth has stopped

star-wat joker argued about the dividend of evergreen.
Let me explain here:
in the latest AGM, evergreen management has announced at least 40% dividend payout ratio (vs net profit) starting this year.

They were not paying much dividend in the past as they required the money for capex for expansion. starting 2017, their expansion is done and they can free up more cash for dividend.
if 2016 EPS is around 9sen, 40% would be 3.6sen. that is about 3.7% dividend yield (not bad).

this dividend will increase as they are improving EPS in 2017-2018. So you will get even higher dividend yield if you invest at current price

haha raider.. wallop or not, that is another story.
We are more concerned for Evergreen to prove to shareholders that 2017 onwards they will see much improvement in earning

what a bargain to buy AA now...

read this:
http://klse.i3investor.com/blogs/valuegrowth/

nice sharing... i am buying more AA now...

stockraider, i think a "fair" comment would be:

- we do not know if Evergreen will eat into Hevea share market or not in terms of particleboard and RTA as there are different specs and types of these products. Market is huge so they may not be competing with each other. Moreover, Hevea's main markets are Japan and China but Evergreen is Middle East and SEA. So they are competing in different products and different countries. - but the fair comment would be, Hevea has seen its growth reach a certain level since 2012-2013 and the room for improvement is limited. The current share price is fairly stated. unless you buy the share before the "growth".

- but evergreen is in the "growing" mode and you can expect huge earning improvement in 1-2 years. So you should buy while it is undervalued now, before too late. So the room for share price appreciation is much more compared to Hevea. Got my point?

Everyone here, let me give you another example:

it is about timing...

If you bought Hevea 2 years ago (before they transformed into a high earning company), yes, your timing is right as they started to grow.. you invested in a growing company at undervalued price. today, you gain handsome reward. But if you are buying hevea today (fairly priced in now), the share price appreciation is limited as there may not be much growth as before..

If you buy Evergreen today, 1-2 years later, they improved revenue and net profit hugely.. You are buying at undervalued price now. Is this a good investment?
Some star-wat joker said: wait till they fully transform and when earning improves, then only you buy (after 1-2 years), ok, then you will be buying at high price (fair price), not current price anymore.. See, this is value investment...

Star-wat joker, you have been a joker all this while... i would advise you to stop your crap as investors are smart to know your bad intention.. thank you... as I have been pointing out, your info has been misleading...

Please read the article by Easy Wong (he attended the AGM this year):

http://klse.i3investor.com/blogs/kianweiaritcles/111968.jsp

借此增加2017年Q1与Q2的盈利。

Management has indicated that starting 2017 Q1 & Q2, net profit will start to increase... as they started the internal restructure late 2015/early 2016 and will see the results in 2017...

star-what joker, you wrote something yourself but you are still not clear... 5 consecutive quarters with downward profit?

This is what you wrote right?

Financial quarter 30 Jun 2016: PBT 16,459,000 Net Profit 16,459,000 EPS 2.04 sen
Financial quarter 30 Sep 2016: PBT 16,880,000 Net Profit 16,880,000 EPS 2.06 sen

Can't you see the profit is improving now after the internal re-structure and expansion which started early this year?

You are indeed a joker.. isn't that misleading?

Kingsley Looi, well done...

did i say you can see the result immediately in early 2017? I say starting 2017, they will grow stronger. If you are trading for short term, then i have nothing to say. if u invest for future, evergreen is the one to pick

the one who has lost his credibility is?? haha.. wrong "fact" to mislead ppl here, starperformer, pls stop this

guys, this fellow keeps giving misleading "fact" as we all know that 2016 will be a flat year for evergreen in terms of "operating" PATAMI (don't count in Forex)...

where is the sliding down of earning for 5 consecutive quarters? Here we can prove once again that you have personal agenda to maliciously attack evergreen

the fact:
Q2 net profit = RM16.459mil / EPS = 2.04

Q3 net profit = RM16.880 mil / EPS = 2.06

starperformer, can you understand the fact?

your statement:Evergreen's PBT, net profit and EPS have been sliding down for 5 consecutive quarters and that is proof of losing market segment traction

the fact:
Q2 net profit = RM16.459mil / EPS = 2.04

Q3 net profit = RM16.880 mil / EPS = 2.06

and as mentioned, do not expect much for 2016 so that is the slight improvement.
But 2017 onwards will see huge growth in revenue and profit

where is your so-called fact?
Are you slapping your own face?

the email above should be able to shut someone's mouth

FYI i wrote that email to Evergreen COO after the release of Q2 2016 result

raider, i am not sure if Evergreen will eat into Hevea's share market.. but what i can tell is, evergreen will be going strong into 2017 as indicated by the executive director

we can see how Evergreen management is taking pro-active measures to improve profitability and growth.. that is what we as investors would like to see

there are nay-sayers who are trying to sabotage a certain share for their own benefit.
I could not bear with this anymore so I decide to share this email.
Smart investors can read and interpret on your own.
Thank you.

From here we can see that Evergreen management is sincere and they do not over-commit for 2016 performance as they expect 2016 operational PATAMI is flat (compared to 2015). That explains why 2016 is not a so good year for Evergreen. But note than 2017 onwards will be totally different.

Let's examine if 2017 improvement is achievable?

Q2 net profit = RM16.459mil / EPS = 2.04

Q3 net profit = RM16.880 mil / EPS = 2.06

Did the performance get worse? Nope, it is getting slightly better compared to Q2...

And I like the way the management told the real situation, instead of giving false hope like 2016 will be great etc...

So I feel that Evergreen management is sincere, honest and is telling the right situation.
I can't wait to see 2017 onwards..

I am in for Evergreen, what say you?

smart investors can tell

guys, no need argue, just read my email above

reply from evergreen:

Good Day.

I’m Mary the Executive Director replying on behalf of Mr Kuo who is out of office currently. Thank you for your email and my sincere apologies for the delay in replying as I needed to verify some details before replying.

Below are answer to your question :-

The Middle East market remains a bright spot in the MDF industry and despite all the challenges, it is a growing market as previously closed markets like Iran (with huge population and pent up demand) become more open. There is increasing stability resulting in more rebuilding. As you know, MDF is a key beneficiary of improving housing and furniture market there.
With an established regional presence, EFB is not overly reliant on any particular country. Our wide market presence means we can quickly divert our products to countries with improving fundamentals. The Group is also actively moving to more downstream mdf products including furniture in order to broaden our income stream and to expand our market as furniture can be marketed all over the world. With our downstream products, we will be less affected by pricing competition as product differentiation is more apparent. In fact the ASP has actually rebounded and remains quite stable so far.

During 2014/2015, we have identified 4 critical operational areas which needed major transformation. These are mainly dormant plants, the particleboard operation, an MDF plant in Masai, Johor plus sawmill operations. Non-performing operations are costing the Group approximately RM3mil in monthly losses, mostly due to depreciation expense and sawmill cost. Management decided on relocating the Masai MDF operation to Segamat to gain synergistic savings by operating together with the particleboard operation there. The particleboard operation itself is receiving completely new state-of-the-art machinery which is designed to produce premium boards at high capacity. Sawmill operations has been scaled down and turn around. Other efforts taken by the Group includes expanding our downstream capacity by running automated furniture production lines which requires minimum manpower but with high output capacity plus upgrading finishing sections of existing operations to improve product quality at reduced running cost. We invest in technology as we believe technology is an enabler and output multiplier while reducing dependency on low-skilled workforce which is in line with government’s objective of reducing dependency of foreign worker intake and striving to achieve high income status. The efforts are at various stages of completion with the final one being the MDF and particleboard operations which will come online by early 2017. Our simple assumption would be that even if all the non-performing operations simply broke even, it would mean ‘additional’ profits of RM36mil a year. When one factor in the profits to be generated from these new and upgraded production lines, 2017 is when the Group turns a new chapter in its operational capability.

Therefore, we strongly believe it is the right time to relaunch our PB operations, as currently there is a general shortfall in PB supply, local Malaysian furniture manufacturers have been forced to source for PB from Thailand. Furthermore, our PB line is designed to run niche products which command better pricing with less competition. It will also support our diversification into furniture as raw material input. By 2017, EFB’s operations will be more complete and integrated. With a more comprehensive product range and efficient operations, EFB will be in a much stronger footing.

In the 1st half of 2015 (1H2015), the Group reported PATAMI of RM44mil, which is inclusive of RM3mil in forex gain. So PATAMI net of forex gain (operational PATAMI) is RM41mil. In 1H2016, the equivalent operational PATAMI is also around RM41mil. Barring significant economic or currency jolts, we should achieve comparable operational PATAMI in 2016 to 2015’s.
Should you have further questions, please feel free to forward us. Alternatively you could also contact our Head of Investor Relation – Mr Martin Leong who I have extended this email for any questions in relation to our operations and performance.

Thank you.

Regards,
Mary Henerietta Lim
Group Executive Director

starperformer, i do not know what is your intention of sabotaging evergreen here..
pls see my email that i have shared above

we can see how Evergreen management is taking pro-active measures to improve profitability and growth.. that is what we as investors would like to see

there are nay-sayers who are trying to sabotage a certain share for their own benefit.
I could not bear with this anymore so I decide to share this email.
Smart investors can read and interpret on your own.
Thank you.

From here we can see that Evergreen management is sincere and they do not over-commit for 2016 performance as they expect 2016 operational PATAMI is flat (compared to 2015). That explains why 2016 is not a so good year for Evergreen. But note than 2017 onwards will be totally different.

Let's examine if 2017 improvement is achievable?

Q2 net profit = RM16.459mil / EPS = 2.04

Q3 net profit = RM16.880 mil / EPS = 2.06

Did the performance get worse? Nope, it is getting slightly better compared to Q2...

And I like the way the management told the real situation, instead of giving false hope like 2016 will be great etc...

So I feel that Evergreen management is sincere, honest and is telling the right situation.
I can't wait to see 2017 onwards..

I am in for Evergreen, what say you?

reply from evergreen:

Good Day.

I’m Mary the Executive Director replying on behalf of Mr Kuo who is out of office currently. Thank you for your email and my sincere apologies for the delay in replying as I needed to verify some details before replying.

Below are answer to your question :-

The Middle East market remains a bright spot in the MDF industry and despite all the challenges, it is a growing market as previously closed markets like Iran (with huge population and pent up demand) become more open. There is increasing stability resulting in more rebuilding. As you know, MDF is a key beneficiary of improving housing and furniture market there.
With an established regional presence, EFB is not overly reliant on any particular country. Our wide market presence means we can quickly divert our products to countries with improving fundamentals. The Group is also actively moving to more downstream mdf products including furniture in order to broaden our income stream and to expand our market as furniture can be marketed all over the world. With our downstream products, we will be less affected by pricing competition as product differentiation is more apparent. In fact the ASP has actually rebounded and remains quite stable so far.

During 2014/2015, we have identified 4 critical operational areas which needed major transformation. These are mainly dormant plants, the particleboard operation, an MDF plant in Masai, Johor plus sawmill operations. Non-performing operations are costing the Group approximately RM3mil in monthly losses, mostly due to depreciation expense and sawmill cost. Management decided on relocating the Masai MDF operation to Segamat to gain synergistic savings by operating together with the particleboard operation there. The particleboard operation itself is receiving completely new state-of-the-art machinery which is designed to produce premium boards at high capacity. Sawmill operations has been scaled down and turn around. Other efforts taken by the Group includes expanding our downstream capacity by running automated furniture production lines which requires minimum manpower but with high output capacity plus upgrading finishing sections of existing operations to improve product quality at reduced running cost. We invest in technology as we believe technology is an enabler and output multiplier while reducing dependency on low-skilled workforce which is in line with government’s objective of reducing dependency of foreign worker intake and striving to achieve high income status. The efforts are at various stages of completion with the final one being the MDF and particleboard operations which will come online by early 2017. Our simple assumption would be that even if all the non-performing operations simply broke even, it would mean ‘additional’ profits of RM36mil a year. When one factor in the profits to be generated from these new and upgraded production lines, 2017 is when the Group turns a new chapter in its operational capability.

Therefore, we strongly believe it is the right time to relaunch our PB operations, as currently there is a general shortfall in PB supply, local Malaysian furniture manufacturers have been forced to source for PB from Thailand. Furthermore, our PB line is designed to run niche products which command better pricing with less competition. It will also support our diversification into furniture as raw material input. By 2017, EFB’s operations will be more complete and integrated. With a more comprehensive product range and efficient operations, EFB will be in a much stronger footing.

In the 1st half of 2015 (1H2015), the Group reported PATAMI of RM44mil, which is inclusive of RM3mil in forex gain. So PATAMI net of forex gain (operational PATAMI) is RM41mil. In 1H2016, the equivalent operational PATAMI is also around RM41mil. Barring significant economic or currency jolts, we should achieve comparable operational PATAMI in 2016 to 2015’s.
Should you have further questions, please feel free to forward us. Alternatively you could also contact our Head of Investor Relation – Mr Martin Leong who I have extended this email for any questions in relation to our operations and performance.

Thank you.

Regards,
Mary Henerietta Lim
Group Executive Director

hi dolly, i did not start the WAR, if you scroll up and read from the beginning, I was merely giving my point of view but that fellow started the personal attack... i did not want to argue in the beginning but he was getting more and more offensive so i had to defend myself...

haha... nocindycat... yes, SUCCESS is definitely undervalued.. if u want success, buy SUCCESS now!!!! hahaha....

anyone knows why recently it has dropped so much?

Banana John... i think the main problem with Opensys is - the revenue growth is not attractive, but the net profit has been badly impacted by the weakened MYR vs YEN... revenue grow a bit, but net profit drop a lot due to weak MYR currency... profit margin is an issue...
the increase of CRM sales is not that promising if you look at the current market... many banks do not want to change to CRM due to various reasons i mentioned above... so i think it is good to watch this share but only buy when it drop a lot... KIV first.... now too expensive..

thanks both... i will read the annual report too...

from 1st day I did not say RGB is a bad company, I was only using other valuations to see how much it should worth... and then this DOG and his followers started to personally attack me... I started with opinion sharing, they started with WAR...

Ehome009, unfortunately that so-called "GOD", actually = DOG would not agree to disagree.. when I disagreed to what he said, he started the personal attack, which showed how low class he is.. and of course, his doggie blind followers as well.. in fact, this DOG is not the first one to intro RGB.. he was also some sort of copycat but pretended to be the "pioneer" who introduced good shares to others..


back in Sept 2016, someone else has recommended this share when it was trading at much lower price... then this DOG copied his analysis and "used with pride"...
http://www.investalks.com/forum/forum.php?mod=redirect&goto=findpost&ptid=34&pid=3887862&fromuid=558

Current year prospects
Margin squeeze due to intense competition and cost pressures are the main challenges of the Group. With the current projects at hand, the financial results of the Group for the fourth quarter is expected to be satisfactory.

For the current quarter, the Group recorded lower revenue of RM29.41 million compared to RM32.77 million recorded in the preceding quarter. The profit before tax reduced to RM4.61 million from RM6.21 million recorded in the last quarter. The decrease in profit before tax is mainly due to lower turnover and losses incurred by our associate company in Canada.

everything looks good just that the directors are a bit stingy with the dividend... they have plenty of cash (more than enough for Capex and dividend payout) but are only willing to pay peanuts for dividends...

dudu, can you speak some human language? I don't understand your last statement...