Posted by Jupiter > 2018-02-27 19:32 | Report Abuse

I would say a pretty good 4Q result. Sure it is lower than last year's 4Q by about RM3mil but 4Q2016 benefited from forex gain of RM7mil whereas there is no such paper gain in 4Q2017. Interest expenses is also lower by half. This qtr saw RM strengthening against USD plus many comments about MDF and Particleboard prices falling off the cliff. But if after falling off the cliff Evergreen only suffered some scratches, this means Evergreen's earnings are resilient. They managed to find a way to sustain their profit in such tough times and at such short notice (remember the RM suddenly appreciated so much in so little time).

This result really give me confidence of Evergreen's resilience and show their management can respond to changing environment quickly. This is unlike say Heveaboard who kept bemoaning shortage of workers even though it has been more than 6 months that it happened.

Posted by moneykj > 2018-02-27 20:21 | Report Abuse

Wah....Earn 13m....Worth at least 0.40...haha

Posted by value88 > 2018-02-27 20:45 | Report Abuse

Evergreen's earning in this quarter is relatively okay if compared against other furniture and export-oriented companies. It is definitely not considered as good since high log price issue still persist and Thailand plant again has one production line stoppage issue.
The management claimed that in Jan'18, the weather and log supply are okay. If such situation can continue in Feb & Mar'18, the coming quarter's earning will see improvement.

Posted by kasinathan > 2018-02-27 20:45 | Report Abuse

Compared to mieco, hevea and syf..evergreen Qtr 4 result is fairly good...deserve. for a better price

Posted by value88 > 2018-02-27 20:46 | Report Abuse

Read the quarterly report, the management's comment can be found there.

Posted by moneykj > 2018-02-27 20:50 | Report Abuse

Want play turnaround stock?
Go for T7global. If its coming results no good oso, dare2 go n hantam.

Posted by Malatlou > 2018-02-28 00:56 | Report Abuse

Should worth only 0.3cents as their earning is so little if do not subject in the one time gain 8mil haha.. Gg

Posted by joekit > 2018-02-28 09:13 | Report Abuse

looks like evergreen result quite stable. might buy some. ..

Posted by Jupiter > 2018-02-28 12:50 | Report Abuse

Malatlou..... which one time gain of RM8mil are you talking about? Is that the insurance compensation for their fire? If you take out compensation, you need to take out their losses due to a whole production line sitting there not producing but Evergreen still need to incur the fixed cost for the entire 3Q and 4Q. That big a line, I think just depreciation alone is probably like a RM1mil a month. If add in salary, add in general maintenance costs etc, how much fixed cost incurred every month? If talk about one time issues, then need to take out the deferred tax asset write off of RM7mil in 4Q alone. This is Evergreen mgmt being prudent in recognizing all potential losses first. So you can imagine if there was no fire and no deferred tax impact, Evergreen could easily announce a PAT of RM20mil this quarter! And this Q is where all the negative stuff like USD depreciate, particleboard price war, high log and glue costs all come in.

This shows how resilient Evergreen's earnings are and how their management is able to plan ahead and smooth out their earnings to avoid shocks to the investors.

If you compare with Hevea, sure they announced RM15mil PAT but RM5mil is from deferred tax ADDED IN! This is directly opposite from what Evergreen did by being conservative. If particleboard price war continues, Hevea may not be able to show high enough profit in 2018 and they might then need to write off their deferred tax assets in 2018. They also have additional OTHER INCOME of RM3mil which was not properly explained in the notes. What are these? one off items? More accounting magic like the deferred tax asset creation? Hevea explained away their bad result by focusing on the labor issue on the furniture segment. Ignoring the fact that Hevea's mgmt was not able to resolve the labor issues even after six months, Hevea's 3Q PARTICLEBOARD segment did not do well. Reason given was annual maintenance. In the past, their maintenance never had such a huge impact on their result where particleboard segment PBT dropped from RM11mil in 2Q to RM5mil in 3Q, a drop of more than 50%! In 4Q, we see the PBT is reported at RM8mil but if we take out the mysterious RM3mil in OTHER INCOME, we are left with RM5mil PBT, exactly similar PBT to 3Q. Cannot be due to 'annual maintenance' again right? I think their mgmt has been less than truthful on this because the market is rife with news of particleboard price wars but Hevea has told analysts that they are not affected since they do premium products. From the result, it is clear they are hit as well. I dont blame them for market vulgarities but they should have been honest to admit and come up with ways to smooth out their results like what Evergreen's mgmt did.

Posted by Dolly_Chai2 > 2018-02-28 13:08 | Report Abuse

hi Mooxi, mauxi whichever duplicated ID it is... i thought you said you were ex-staff of Evergreen and you knew that Q4 2017 is in loss???
haha.. again, u r proven to be a joker and big big liar....

Q4 2017 results were pretty much within expectation and if not due to one stoppage line in the Thailand plant, it could have been better. Malaysia segment has actually improved, thanks for the new particleboard lines and improved margin from higher premium products...

when the upgradation work is done for that Thailand MDF line, we can expect the results to improve significantly...

after seeing Q4 results, it gives me more confidence to keep topping up...

Posted by Dolly_Chai2 > 2018-02-28 13:11 | Report Abuse

well analyzed Jupiter... kudos to you...

Posted by Dolly_Chai2 > 2018-02-28 13:12 | Report Abuse

i guess mooxi or mauxi whoever the heck he is.. is now hiding in the cave and dare not come out and play his clown show anymore...

mooxi.. where is ur crystal ball again ya? pls tell us the results for Q1 2018 pls... mr bomoh king... haha.. lmao

Posted by Dolly_Chai2 > 2018-02-28 13:24 | Report Abuse

as i have been saying.. Evergreen's current price has taken in all the previous + current negatives and it is fully reflected in its current price.. in fact, it is already undervalued...

U can also expect their cash flow to improve going forward, as they now only have very low capex/capital commitment of RM9.596 million (stated in Q4 2017 report) as compared to what they spent in the past 2 years (over hundreds of millions)...

the management said that most of the upgradation work has been completed in second half of 2017 (most capex done) and they are going to see improvement in efficiency and quality. This means that u will see better profit margin ahead...

and when they dont need much capex in future, they can use more cash from the operations to pay down loans... then they save loan interest charges too... cash flow will be better for them...

Posted by Dolly_Chai2 > 2018-02-28 13:29 | Report Abuse

hi moneykj joker... is 13+million net profit not good? r u expecting 130million?
let me know what is considered a good result?
pls la.. stop being joker here and hater here... as i said, all negatives have been priced in, in fact, overly done... i expect results and share price to improve going forward... but you have to be a bit patient... it may take until end of 2018 or even 2019 to see good return on the share price .... can u wait for 1-2 years? if yes, buy now.. if not, go speculate on other shares...

Posted by Malatlou > 2018-02-28 13:44 | Report Abuse

Leonfb result out... So you guys still dowan believe me.? Cut lost never green

Posted by Dolly_Chai2 > 2018-02-28 13:54 | Report Abuse

malatlou... we believe in results, not in crystal ball ^^

Posted by Malatlou > 2018-02-28 14:22 | Report Abuse

Thats the reason I cut lost instead of hugging the stock from like RM1 to now - 50% of it....?

Posted by Dolly_Chai2 > 2018-02-28 15:37 | Report Abuse

that gives u a good chance to average down...

Posted by Mooxi > 2018-02-28 16:24 | Report Abuse

Yawn~~ next flight to holland

Posted by Dartmaster > 2018-02-28 16:24 | Report Abuse

already in holland how to go holland somemore? can buy d loooo

Posted by maxlee0508 > 2018-02-28 18:49 | Report Abuse

@mooxi.... oledi is ur tp price mar.... how come u still said next flight to holland.... actually ur actual tp price is how much de... i want follow ur tp price to top up ler.... hehe... top up little bit...

Posted by freddiehero > 2018-02-28 21:30 | Report Abuse

?

Posted by freddiehero > 2018-02-28 21:30 | Report Abuse

tp below 0.4 wil b good

Posted by maxlee0508 > 2018-02-28 21:51 | Report Abuse

@freddiehero ok bro.... im waiting.... need average down my price..hehe....

Posted by Jupiter > 2018-03-01 09:15 | Report Abuse

For supporters, can see facts & figures being used to justify the position. For haters, cant see much aside from childish words and crude insults.

Value depends on price. Is Evergreen worth RM1? At current market environment, probably not. Is it only worth RM0.5 making market cap of RM450mil? With earnings of RM60mil forecasted for 2018, ABSOLUTELY.

So pls dont bring up history of RM1. If you invested in RM1 and didnt sell off when market condition changed, that's your problem, not Evergreen's management's problem. Their management's job is to make the best of the situation so that the company survives until the cycle turns again and reap the benefit.

Posted by Malatlou > 2018-03-01 12:00 | Report Abuse

Again, that's why I say cut lost. And most funny supporter says average down. If I were to average down since RM1 I might as well as die.
Cutlost. Buy back in another 2 year time when it reach 4

Posted by onlyinvestment > 2018-03-01 12:54 | Report Abuse

Continue monitoring

Posted by TheLegend27 > 2018-03-01 12:59 | Report Abuse

hevea is better buy than evergreen. hevea=Starbucks evergreen=san Francisco. though Francisco is taste better than Starbucks but still Starbucks will have more business.

Posted by hua91 > 2018-03-02 11:35 | Report Abuse

Stupid stock, stupid management, keep dropping like no tomorrow, rubbish

Posted by kasinathan > 2018-03-03 14:57 | Report Abuse

@hua91, well said.

stupid stock today, price dropping like no tomorrow and rubbish...short term trader.

long term investor:

smart stock, price increasing day by day and a real diomand of tomorrow

Posted by kasinathan > 2018-03-03 15:00 | Report Abuse

you sold stupid stock at rotten.price today, i buy it for selling as a diomand tomorrow.

Posted by kasinathan > 2018-03-03 15:04 | Report Abuse

you were pretty right today but i prefer to be right for tomorrow

Posted by lance2688 > 2018-03-06 05:04 | Report Abuse

13mil earning got 9mil is sold land right?

Posted by Kevin Tam > 2018-03-06 12:39 | Report Abuse

Below 60 cents is under value for Evergreen n HOng Leong Investment Bank is quite ridiculous to adjust target price down 33 cents in 2-3 months time...

Posted by Kevin Tam > 2018-03-06 12:40 | Report Abuse

Anyone here how to check the log price of Asia? The main material for Evergreen ...

Posted by Malatlou > 2018-03-07 11:02 | Report Abuse

Those that mention undervalue please sell ur car ur hhouse ur wife to buy. Ill still wait below 4cents

Posted by Mauxi > 2018-03-07 11:46 | Report Abuse

Heard evergreen going bankrupt soon and management scrambling with major shareholders scolding

Posted by maxlee0508 > 2018-03-07 12:16 | Report Abuse

@malatlou.... bro... u waiting 4cents o 40 cents..... big different ler.... im still got hold tis stock... just consider need add on o keep only

Posted by kimkim85 > 2018-03-07 12:18 | Report Abuse

Evergreen going finish

Posted by maxlee0508 > 2018-03-07 12:18 | Report Abuse

@mauxi.... sure o not.... dont scary me ler.... i still got hold ler... hermmmmmm

Posted by kimkim85 > 2018-03-07 12:18 | Report Abuse

Chinaman will take over

Posted by maxlee0508 > 2018-03-07 13:37 | Report Abuse

@kimkim85 bro.... when will announcement out bout chinaman take over

Posted by Malatlou > 2018-03-07 15:33 | Report Abuse

40cents below bro

Posted by Martingale > 2018-03-07 17:11 | Report Abuse

Get another 10,000 units @0.505

Posted by ITreeinvestor > 2018-03-07 17:16 | Report Abuse

Hevea actually better than Evergreen intern of profit margin, cash flow. EPS, PE, ROE, ROA and etc.

Posted by TheLegend27 > 2018-03-07 18:03 | Report Abuse

hevea drop 0.5 cents impact a bit. evergreen drop 0.5 cents big impact. better swap to hevea.

Posted by Jupiter > 2018-03-07 20:48 | Report Abuse

Really amazed with this Mauxi. So thick skinned! Still dare to come here and claim insider information even though been proving wrong many times in the past.

Which major shareholders scold management? The major shareholders are the founding family members who are also holding the top mgmt positions. You mean they scold themselves ah? The fact that you have multiple personalities shown by your multiple avatars doesn't mean everyone else have split personalities as well.

Also the first time I hear that a profitable company is going bankrupt. I guess in mauxi's world nonsense is the norm.

Posted by maxlee0508 > 2018-03-07 22:40 | Report Abuse

@malatlou ths bro..... 4cents really scared me ler.... kk... 40cents i follow ur tp... 40cents tambah.... hehe...

Posted by maxlee0508 > 2018-03-07 22:45 | Report Abuse

@jupiter bro..... just forgive him lar.... dun scold him lar..... maybe he sai lang on this counter in early jor.... lost too much... now hate nevergreen lor.... hehe

Posted by moneykj > 2018-03-07 23:57 | Report Abuse

Bad. Tomorrow sure close below 0.50. Your chance to add till 0.30.
I call it man man sei