Someone should push management to hike dividend as this will attract more investors and reward existing. This talks louder than giving many updates through various brokers and investment clubs. No to say giving update through broker should be scrapped if it does hike though.

The company could have done a better job by disclosing more information in its quarterly report.

Pls add me. Thanks.

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If I am management, I don't wait for oil price recovery. I focus on ship building.

Not one bit by our family but the market and directors are 'doing' it on our behalf by pushing the prices down. By the time it reaches 1cent, essentially everything of ours is considered 'SOLD'.

seriously if this company destines to fail, better do it quickly. I write off all my asset already. Better than keep feeding those bunch of top management and directors.

Has anybody attended agm? What were discussed?

I believe there are insiders here. And they already did the selling way before annoucement of result today.

It appears from the reading the management was expecting RM15-20m (assumption made in June after taking into account of 1st qtr?), so minus off RM7m in 2nd qtr, there remains RM13m.

Hng33 sifu, how do u derive max LAD of 10m to go? I read annual report + qtrly report also cannot derive that?

Great stuff. Thanks.

I particpated in a private placement by TSR Capital, a company listed in Bursa Malaysia. The stock price then was 1.10 and placement price was 1, which looked like a bargain. Little did I know that the price was artificially jerked up by manipulator to make it look like a bargain to unsuspected investor to ensure that there was good participation in the private placement. Upon completion of the private placement, the stock price started falling and what was worse was the volume was very thin. Even I wanted to sell all of my holdings, I would not be able to do so. I watched with despair that my stock value decreasing until only a few years was I able to successfully sell all of my holdings.

The action of the manipulators which I suspected linked to the directors and family still hurt me because of the pain of losing money and the trust I placed on them. I wished they had not done that.
I tried to elaborate why the manipulators did such a thing and came up with greediness. Perhaps the manipulators were desperate as the level of trust on the company was low and they would be unable to come to the financial markets for financing. All in, they were manipulated by greed.

I chose to move on and forgive them now because it is simply not worth the efforts to hold on the hatred and hurt myself while I have never met the manipulators myself and I also sympathize them for feeling desperate. I can afford to lose the money.

Profitable company subject to Japan HQ policies and keen competition all around. Excellent revenue and profit in FYE2016. Valuation yet attractive.

Positives

1) Despite lower revenue QoQ 16 and 15, PBT doubles.
2) Higher revenue 6M16 as compared to 15, despite lower postal and international segments revenue by 45m but single handedly pull-up by growth in courier.
3) Losses in postal by 69m but profit in courier by 83m.
4) Growth in revenue and profits in other segments.
5) Higher Net profit 2016 and 2015 of 39m vs 26m
6) Generally low fuel cost

Negatives

1) 6M revenue from postal service 2016 and 2015 decreased by 6%. Expect trend to continue.
2) 6M Losses from postal service is 60M against revenue of 383m. It was profitable last year. Most probable reasons for the change were staff costs and fuel expenses.

Unknown

1) Contribution from KLAS in 2015 is profit of 8m. Not significant and not expected to be material soon. Potential biz directly from Alibaba? Worth to look into this segment in the future to see whether the KLAS acquisition is worth the price.
2) Postal tariffs hike


Conclusion

Higher revenue and profit 6M 2016 vs 2015. Losses in postal to be mitigated by growth in courier, a sustainable growth. Potential hike in postal tariffs to make the picture better.

I sold my holdings at 3.17 yesterday at a loss. After analysing what to expect this qtr, I think it is highly probable that the result will lack + my analysis which revealed my short of info adding to the existing risks inherent in this stock.

I bought this stock after reading KYY's comment. When I purchased it, I did only superficial research, now I suffered.

Should I buy it now?


I would want to know whether I know what kind of risks I will be taking. I want to take minimal risk for high returns. I want to have my margin of safety or error factored in my decision.

Last year was exceptional due to higher USD. In fact, high USD shielded its from decline in bedding division in June quarter 2016. Do I expect higher USD going for bull run into the future, say 5-years? A sensible answer from anyone should be you don't know. Given the already high USD, any successive higher USD every year is akin to a bull climbing a wall. By the way, didn't BNM and minister said our RM is undervalue? So, forex risk is high.

How about the manufacturer's ability to raise price and production volume in the future? I don't have much info. Did Lii Hen raise price recently or due to revise it not too long into future? Was the improvement in the past years due to growth in volume exported? Who is main customers, how many % each contributes, how sticky they are, who do its customers target? I don't have a lot of info to analyse. But 3 positive points I noted. USA economy is growing albeit slowly in the past few years. Housing formation in the USA is still healthy. Trump existing known policy is expected to cause economy and inflation in USA to go up more rapidly in the next few years. Main risks I identify include increasing competition from furniture players, probable set-back in any of its division such as bedding as happened in June 16 quarter, commodity nature of the product and sudden decline of this cyclical industry.

Cost. Lii Hen said main concern is cost. Increasing cost and labour shortage. It is increasing automation. This is long run positive. In short run, the issues remain. Will cost increase unproportionately in the short run? Minimum wage has increased for one, and another is fuel cost. I don't know whether wood prices have increased or not and whether Lii Hen can pass the increase cost over to its customers? Even if it can, there is time lag. Lii Hen is right to go towards direction of automation.

ROE in 2015 is early teen. In 2014, in single digit. Not impressive.

Cash flow is good.

How about MOAT? Perhaps it has good in house designer which understands its customers really well which mitigates the commodity nature of its products? Long term relationship and management experiences? Doesn't seem to amount to a lot of moat to me.

So do I want to own Lii Hen? I got to check further some of the things I lacked info and why its ROE is low. But based on the results for the past 5 years, there hasn't been any downturn except in 2013. So business has been good. Furniture is considered quite a necessity but lack of moat. Net profit margins were 8% and 13% in 2014 and 2015, which reflects nature of business.

Now I know the risks based on imagination if I buy Lii Hen, what sort of return will I get? Is current PE of 8 to 10x considered low? What was its average PE in the past? What has been built in this price i.e. performance in 2015 is expected to repeat into many years in the future. So if I pay this price, I have to pray that the forex is favourable for that many years, USA continues to grow and market is happy paying current PE. To conclude, I will not buy at current price.

Dated 12.11.16

Why this sudden shoot up I have no idea. From fundamental view, I presume tt impariment has not been completed and is an on-going process. Banks stocks are not doing well except for PBB, so why the sudden love for this stock?

Tikus co

Ask the leadership and directors go f'ck themselves...